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(Reuters) -Insurance bellwether Travelers Companies reported a profit surge in the third quarter on Thursday, helped by lower catastrophe losses, stronger underwriting fees and higher investment returns. Resilient consumer spending, despite higher borrowing costs, has helped sustain insurance demand, as businesses and households continue to prioritize protection against financial risks, accidents, property damage and natural disasters. Travelers' results often serve as a bellwether for the property and casualty insurance sector, reflecting broader industry trends in underwriting, pricing and catastrophe losses. The New York-based company's core income climbed to $1.87 billion, or $8.14 per share, in the three months ended September 30. That compares with $1.22 billion, or $5.24 per share, a year earlier. Net written premiums, the total value of policies sold after accounting for reinsurance, rose 1% in the quarter to $11.47 billion, led by growth in business insurance. Catastrophe losses came in at $402 million on a pre-tax basis, compared with $939 million a year earlier. The 2025 Atlantic hurricane season marks the first time in a decade when no hurricanes had made landfall in the United States through the end of September, according to AccuWeather. The absence of major catastrophes can offer a tailwind to insurers, as losses from hurricanes, wildfires and severe storms – a key swing factor for the industry – often sharply affect quarterly earnings despite their efforts to price in risks and share them through reinsurance. Travelers' underlying combined ratio came in at 83.9% in the quarter. A ratio below 100 indicates that the insurer collected more in premiums than it paid out in claims and expenses. The company posted an underwriting income of $1.38 billion on a pre-tax basis, which more than doubled from a year earlier. Net investment income, which comes from bonds, stocks and other low-risk financial assets, rose 14.3% to $1.03 billion. (Reporting by Prakhar Srivastava in Bengaluru; Editing by Shinjini Ganguli)

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(Reuters) -BNY reported a 21% jump in third-quarter profit on Thursday, as it earned higher interest and fees, while soaring equity markets boosted the value of its client assets. U.S. stock markets hit record levels in the latest quarter as AI exuberance and hopes of interest rate cuts prompted investors to look past labor market weakness and inflation worries. BNY's assets under custody and administration rose 11% in the quarter ended Sept. 30 to $57.8 trillion from a year earlier. The Wall Street bank said the rise reflected higher market values and client inflows. Its total revenue jumped 9% to a record $5.08 billion in the quarter. Net interest income (NII) – the spread between earnings from assets and costs on liabilities – also rose 18%, smashing analysts expectations of 12.6% growth, according to estimates compiled by LSEG. The quarter saw BNY's NII grow at the highest pace since the second quarter of 2023, underscoring borrower resilience observed across the biggest U.S. banks' results this week. Profit applicable to BNY shareholders came in at $1.34 billion, or $1.88 per share, compared with $1.11 billion, or $1.50 per share, a year earlier. Assets under management remained flat over the same period as higher market values were offset by net outflows. (Reporting by Ateev Bhandari in Bengaluru; Editing by Anil D'Silva)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Reuters) -BNY reported a 21% jump in third-quarter profit on Thursday, as soaring equity markets boosted the value of its client assets, helping the world's largest custodian bank earn more in fees. BNY's assets under custody and administration rose 11% in the quarter ended Sept. 30 to $57.8 trillion from a year earlier. The Wall Street bank said the rise reflected higher market values and client inflows. Its total revenue jumped 9% to a record $5.08 billion in the quarter. Net interest income (NII) – the spread between earnings from assets and costs on liabilities – also rose 18%, smashing analysts expectations of 12.6% growth, according to estimates compiled by LSEG. (Reporting by Ateev Bhandari in Bengaluru; Editing by Anil D'Silva)

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(Corrects tariffs number to 100% from 00% in paragraph 10) (Reuters) -U.S. stock index futures rose on Thursday, boosted by strong quarterly update from TSMC that reinforced investor optimism around AI, extending a rally in chip stocks in the previous sessions. TSMC, the world's biggest producer of advanced chips, raised its full-year revenue forecast on a bullish outlook for spending on artificial intelligence. U.S.-listed shares of the company, which also posted a better-than-expected record quarterly profit, rose 2.2% premarket. Shares of some major U.S. chipmakers also advanced, building on gains from Wednesday when ASML's solid quarterly results and a $40 billion data center deal by BlackRock and a Nvidia-backed group fueled optimism around AI. Nvidia rose 1.1%, Micron Technology added 2.9% and Broadcom gained 1.8%. The AI-driven momentum and optimism around U.S. rate cuts have helped markets in recent months. AI-related tech stocks were among the biggest boosts to markets this week. Robust earnings from major U.S. banks also grabbed attention this week, offering fresh signs of economic resilience at a time when official macroeconomic reports remain delayed due to the government shutdown. At 05:27 a.m. ET, Dow E-minis were up 112 points, or 0.24%, S&P 500 E-minis were up 18 points, or 0.27%, and Nasdaq 100 E-minis were up 110.25 points, or 0.44%. Meanwhile, investors remained focused on the recent escalation of China-U.S. trade tensions. Top U.S. officials on Wednesday blasted China's major expansion of rare earth export controls as a threat to global supply chains, but said Beijing could still change course, stressing that Washington did not want to escalate the conflict. President Donald Trump's threat to cancel the U.S.-China meet and impose an additional 100% tariffs on Chinese goods capped investors' risk appetite last week. U.S. Treasury Secretary Scott Bessent emphasized that Trump is ready to meet Chinese President Xi Jinping in South Korea later this month. A slate of Fed officials including governors Stephen Miran and Christopher Waller, Vice Chair for Supervision Michelle Bowman and Richmond President Thomas Barkin are set to speak later in the day. Among other moves, Salesforce rose 4.9% after the company said it expects revenue of more than $60 billion in 2030, above Wall Street estimates. Hewlett Packard Enterprise slumped 8.9% after it forecast annual profit and revenue below Wall Street expectations. United Airlines declined 1.7% after reporting mixed quarterly results. (Reporting by Sukriti Gupta in Bengaluru; Editing by Maju Samuel)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)