Please do not leave this page until complete. This can take a few moments.
The Travelers Cos. posted a 10 percent decline in profits in a second quarter marked by higher catastrophe losses from hail and tornado activity and a lower underlying underwriting gain.
For the three months ended June 30, Travelers’ net income dropped to $595 million, or $2.11 a diluted share, from $664 million, or $2.24 per diluted share in the year ago period.
Revenues totaled $7.2 billion in the second quarter, an increase of 6 percent compared to $6.8 billion in the year ago period.
The underlying underwriting gain declined because of the timing of higher loss estimates affecting personal auto bodily injury liability coverages. Higher catastrophe and non-catastrophe weather-related losses also played a role, said CEO Alan Schnitzer.
“The storm activity had the greatest impact on personal insurance, affecting results in both home and auto,” he said.
This special edition informs and connects businesses with nonprofit organizations that are aligned with what they care about. Each nonprofit profile provides a crisp snapshot of the organization’s mission, goals, area of service, giving and volunteer opportunities and board leadership.
Learn moreHartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
SubscribeDelivering Vital Marketplace Content and Context to Senior Decision Makers Throughout Greater Hartford and the State ... All Year Long!
Read HereThis special edition informs and connects businesses with nonprofit organizations that are aligned with what they care about. Each nonprofit profile provides a crisp snapshot of the organization’s mission, goals, area of service, giving and volunteer opportunities and board leadership.
Hartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
Delivering Vital Marketplace Content and Context to Senior Decision Makers Throughout Greater Hartford and the State ... All Year Long!
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments