• Travelers average return on tangible equity for 2023 was 14.34, a 11.26% increase from 2022.
• Travelers average return on tangible equity for 2022 was 16.16, a 13.32% decline from 2021.
• Travelers average return on tangible equity for 2021 was 14.26, a 37.78% increase from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.