Travelers Q3 net income hammered by catastrophe losses
Travelers, the US (re)insurance giant, said that third quarter net income tumbled to $214m from $1.198bn the year before after the company was hit by $682m worth of after-tax catastrophe losses.
Net income for the first nine months of the year to end-September dropped 34% to $2.1bn, down from $3.58bn in the period earlier. Operating income in the current quarter was $330m, compared to $1
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