The Travelers Companies reported a 14% decline in quarterly profit for the third quarter due to elevated catastrophe losses stemming from severe wind and hailstorms across several parts of the United States.
Tag: Travelers 3Q profit
Travelers Posts Net Income Decline in 3Q Amid Hurricane Claims, Lower Investment Returns
Travelers Cos. reports a 31% drop in net income in the third quarter, as Hurricane Ian claims weighed on results and net investment income fell from an unusually strong year-ago quarter. The company said its catastrophe costs increased 11% year on year to $512 million pretax, net of reinsurance, during a difficult quarter for the… Continue reading Travelers Posts Net Income Decline in 3Q Amid Hurricane Claims, Lower Investment Returns