Property and casualty insurer Travelers Cos. Inc. reported a drop in third-quarter profit on Tuesday that still beat estimates, as higher investment returns mainly from its non-fixed income portfolio softened the blow from a jump in catastrophe losses. The company, a component of the Dow Jones Industrial Average Index, is seen as the bellwether for the insurance sector and typically reports ahead of its peers. The company reported a core income of $655 million, or $2.60 per share, for the three months ended Sept. 30, while analysts had expected $1.67 per share, according to Refinitiv IBES data. In the year-ago period, the New York-based insurer had reported a profit of $798 million, or $3.12 per share. The company reported a pre-tax net investment income of $771 million, up 15 percent from last year. Low-interest rates and hot capital markets in the country helped the insurer yield higher returns from its …