Travelers: quarter weighed on by natural disasters
(CercleFinance.com) - Travelers reported an 11% drop in quarterly profit on Wednesday, due to increased losses from natural disasters.
The US insurer's net profit fell to $404m, or $1.74 per share, from $454m ($1.89 per share) in Q3 2022.
Core EPS reached $1.95, while the consensus was expecting $2.99.
The New York-based group said that its finances were adversely affected by the numerous storms and hailstorms that hit several US states.
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The US insurer's net profit fell to $404m, or $1.74 per share, from $454m ($1.89 per share) in Q3 2022.
Core EPS reached $1.95, while the consensus was expecting $2.99.
The New York-based group said that its finances were adversely affected by the numerous storms and hailstorms that hit several US states.
Copyright (c) 2023 CercleFinance.com. All rights reserved.