• Travelers average debt/equity ratio for 2023 was 0.35, a 6.06% decline from 2022.
• Travelers average debt/equity ratio for 2022 was 0.33, a 32% increase from 2021.
• Travelers average debt/equity ratio for 2021 was 0.25, a 0% increase from 2020.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.