The Travelers Companies, Inc. today announced that it estimates its catastrophe losses relating to Hurricane Harvey, including estimated recoveries from reinsurance, will be in the range of $375 million to $750 million pre-tax ($245 million to $490 million after-tax).Consistent with the capital management strategy it employs during periods of significant catastrophe activity, the company also announced that it has temporarily suspended common share repurchases while it assesses losses from Hurricanes Harvey and Irma. Prior to suspending share repurchases, the company had repurchased approximately 2.6 million shares for approximately $328 million in the current quarter.
The company provided the foregoing information in advance of its planned participation at the Barclays Global Financial Services Conference tomorrow, September 12.