Shares of Travelers Cos. fell sharply Tuesday after the large property-casualty insurer announced an unexpectedly large estimate for its fourth-quarter costs from winter storms.
Tag: Travelers losses
Travelers Catastrophe Losses Rise
Travelers Cos reported a loss in line with Wall Street expectations as net investment income dove lower from a year earlier and catastrophe losses rose. The property-casualty insurance company swung to a loss of $40 million, or 16 cents a share, compared with a year-earlier profit of $557 million, or $2.10 a share. The company’s… Continue reading Travelers Catastrophe Losses Rise
Travelers Sees Q2 Loss on Catastrophe Losses
The Travelers Companies, Inc. today announced preliminary results for the second quarter of 2020 and provided an estimate of PG&E subrogation recoveries expected to be recognized in the third quarter of 2020. For the second quarter of 2020, the company expects to report a net loss per diluted share of $0.16 and a core loss… Continue reading Travelers Sees Q2 Loss on Catastrophe Losses