Travelers: losses confirmed for Q2

(CercleFinance.com) - In line with last week's pre-announcement, Travelers reported a net loss of 16 cents per share (20 cents on a "core" basis) for Q2 2020, compared to EPS of 2.
10 dollars (2.02 dollars on a "core" basis) a year earlier.

The insurer says that this difference is largely due to higher catastrophe losses and lower net investment income, as Covid-19 and related economic conditions only had a modest net impact on underwriting results.

Travelers recorded net written premiums that are down 1% to nearly 7.35 billion dollars in the past quarter, while its underlying combined ratio decreased by 3.5% to 91.4%.


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