Property and casualty insurer Travelers Cos Inc reported a jump in quarterly profit on Thursday, helped by an increase in returns from investments and lower catastrophe claims. The company reported a core income of $1.26 billion, or $4.91 per share, in the fourth quarter ended Dec. 31, compared with $867 million, or $3.32 per share,… Continue reading Travelers’ Profit Soars on Investment Gains, Fewer Claims
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Travelers Profit Misses As Higher Claims Weigh on Underwriting Gain
Insurer Travelers missed Wall Street estimates for second-quarter profit on Tuesday, as weather-related losses led to an 18% drop in underwriting gain. Strong wind and hailstorms during the quarter tore apart homeowners’ roofs, pummeled cars, and wreaked havoc, triggering a spate of claims that proved to be challenging for U.S. insurers, including Travelers. Claims rose… Continue reading Travelers Profit Misses As Higher Claims Weigh on Underwriting Gain