Property and casualty insurer Travelers Companies Inc. reported a 37 percent fall in quarterly profit on Tuesday, hurt by losses related to a winter storm that swept across the United States and Canada in the last week of 2022. The company’s core income fell to $810 million, or $3.40 per share, in the fourth quarter…
Insurer Travelers Profit Falls on Hurricane Costs, Lower Investment Returns
Property and casualty insurer Travelers Companies Inc. reported a 20 percent fall in quarterly profit on Wednesday, hurt by hurricane-related claims and lower returns on its investments. The company’s core income fell to $526 million, or $2.20 per share, in the third quarter ended Sept. 30, from $655 million, or $2.60 per share, a year…
UnitedHealth Says Omicron-Driven Cost Impact Cushioned by Healthcare Deferrals
UnitedHealth Group Inc. on Wednesday said added costs of testing and treatment related to the recent increase in COVID-19 cases are being offset by postponements of non-urgent health care procedures, and the health insurer maintained its 2022 profit forecast. The comments should help allay investor concerns that the rise in COVID-19 infections and hospitalizations driven…
Insurer Travelers Beats Profit Estimates on Strong Investment Returns
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…
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