In the first quarter of 2025, The Travelers Companies Inc (0R03.L) reported a revenue of $11.81 billion, reflecting a 5.18% year-over-year increase, although it experienced a slight decline of 1.69% from the previous quarter. The company faced significant challenges with operating income dropping to $468 million, a staggering decline of 68.12% year-over-year and 81.96% quarter-over-quarter, primarily due to increased operating expenses and lower premium growth. Net income also saw a notable decline, down 64.83% year-over-year, leading to earnings per share (EPS) of $1.73, down 64.52% from the same quarter last year. Management acknowledged that while the revenue growth reflects strong demand in the insurance market, the company is grappling with rising costs and competitive pressures affecting profitability.