Travelers: expects loss in Q2

(CercleFinance.com) - Travelers says that it expects a net loss per share of 16 cents (20 cents on a "core" basis) for Q2 2020, due to high catastrophe losses and losses on its non-fixed income investment portfolio.


The insurance company estimates its pre-tax catastrophe losses (net of reinsurance) for the period at 854 million dollars, due to severe storms in several parts of the US, as well as riots in the country.

Travelers added that Covid-19 and associated economic conditions have only had a modest net impact over the quarter, including pre-tax insurance losses directly attributed to the pandemic of 114 million dollars.


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