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Travelers Enhances Cyber Risk Capabilities with Symantec
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The Travelers Companies, Inc.’s (TRV - Free Report) recently announced that its cyber policyholders will now have access to the pre-breach cybersecurity services of Symantec Corp. Apart from benefitting from Symantec’s cybersecurity services, policyholders can also enjoy discounts on several Symantec products.
Symantec offers services like cyber resilience readiness assessment, cybersecurity awareness training videos and a security coach helpline. These will help policyholders safeguard themselves from cyber risks.
Cyber threat has evolved as a major insurable risk these days. Therefore, offering policyholders risk management services along with insurance coverage should increase demand for coverages, boosting premium revenues. For more than three decades, Travelers has been providing cyber-related insurance coverage with risk management services. We expect the collaboration with Symantec to enhance its service offerings.
Year to date, Travelers’ shares have lost 1%, underperforming the 6.12% increase for the Zacks categorized Property and Casualty Insurance industry. Also, the stock has been witnessing downward revisions in estimates over the last seven days. Nonetheless, a high retention rate, pricing gains, positive renewal rate changes, strong capital position, and inorganic growth position Travelers well for growth in the future.
The company is set to report first-quarter earnings on Apr 20, before the market opens. The Zacks Consensus Estimate is pegged at $2.39 on revenues of $599 million, which translates to a year-over-year increase of 2.05% for the top line and 2.72% for the bottom line. However, our proven model cannot conclusively state if the company will beat earnings. This is because the company has a Zacks Rank #3 (Hold) but an Earnings ESP of -1.26%.
American Financial Group engages primarily in property and casualty (P&C) insurance with focus on specialized commercial products for businesses. Shares of the company gained 7.74% year to date.
Infinity Property and Casualty, through its subsidiaries, provides personal automobile insurance products in the U.S. Shares of the company gained 8.48% year to date.
Progressive offers personal and commercial P&C insurance, and other specialty P&C insurance and related services, primarily in the U.S. Shares of the company gained 11.30% year to date.
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Travelers Enhances Cyber Risk Capabilities with Symantec
The Travelers Companies, Inc.’s (TRV - Free Report) recently announced that its cyber policyholders will now have access to the pre-breach cybersecurity services of Symantec Corp. Apart from benefitting from Symantec’s cybersecurity services, policyholders can also enjoy discounts on several Symantec products.
Symantec offers services like cyber resilience readiness assessment, cybersecurity awareness training videos and a security coach helpline. These will help policyholders safeguard themselves from cyber risks.
Cyber threat has evolved as a major insurable risk these days. Therefore, offering policyholders risk management services along with insurance coverage should increase demand for coverages, boosting premium revenues. For more than three decades, Travelers has been providing cyber-related insurance coverage with risk management services. We expect the collaboration with Symantec to enhance its service offerings.
Year to date, Travelers’ shares have lost 1%, underperforming the 6.12% increase for the Zacks categorized Property and Casualty Insurance industry. Also, the stock has been witnessing downward revisions in estimates over the last seven days. Nonetheless, a high retention rate, pricing gains, positive renewal rate changes, strong capital position, and inorganic growth position Travelers well for growth in the future.
The company is set to report first-quarter earnings on Apr 20, before the market opens. The Zacks Consensus Estimate is pegged at $2.39 on revenues of $599 million, which translates to a year-over-year increase of 2.05% for the top line and 2.72% for the bottom line. However, our proven model cannot conclusively state if the company will beat earnings. This is because the company has a Zacks Rank #3 (Hold) but an Earnings ESP of -1.26%.
Stocks to Consider
Some better-ranked stocks from the insurance industry include American Financial Group, Inc. (AFG - Free Report) , Progressice Corp. (PGR - Free Report) and Infinity Property and Casualty Corporation . Each stock sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
American Financial Group engages primarily in property and casualty (P&C) insurance with focus on specialized commercial products for businesses. Shares of the company gained 7.74% year to date.
Infinity Property and Casualty, through its subsidiaries, provides personal automobile insurance products in the U.S. Shares of the company gained 8.48% year to date.
Progressive offers personal and commercial P&C insurance, and other specialty P&C insurance and related services, primarily in the U.S. Shares of the company gained 11.30% year to date.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public. Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Click here for Zacks' private trades >>