Travelers Sees 3Q Net Income Drop 82%

By Mark E. Ruquet
NU Online News Service

Travelers Companies Inc.’s third-quarter net income fell by 82 percent, pushed down by investment and catastrophe losses, management said. The St. Paul, Minn.-based insurer reported net income compared to last year dropped $984 million in the quarter to $214 million, translating into net income per share dropping $1.45 to 36 cents a share. Revenues dropped 6 percent, or $381 million, to $6.15 billion

For the rest of the story, visit NU Online News Service (www.propertyandcasualtyinsurancenews.com)