Travelers Profit Halves On Losses From Superstorm Sandy

Travelers last earnings report was released this morning.  Reuters reports:

Travelers Cos. Inc.’s quarterly profit fell by half on higher catastrophe losses from superstorm Sandy but the property insurer forecast higher premiums across its businesses.

The company’s net profit fell to $304 million, or 78 cents per share, in the fourth quarter from $618 million, or $1.51 per share, a year earlier.

On an operating basis, Travelers earned 72 cents per share.

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