Travelers FY net income tumbles 36%
Travelers, the US insurance giant, said that net income for the year tumbled 36%, due to heavy catastrophe and investment losses.
The group said net income for the year to end-December 2008 fell to $2.9bn from $4.6bn a year earlier.
Travelers was hit hard by pretax catastrophe losses of $1.408bn, down from pretax losses in 2007
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