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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