Dow 30 component, The Travelers Companies, Inc. (TRV) is an insurance provider of property-casualty insurance for home, auto, and business. Recently, Travelers (TRV) announced its Q2 earnings reporting a net loss of $40 million, or 16 cents per share for the quarter ending June 30. Their earnings were hit by a sharp increase in catastrophe losses and discouraging returns on non-fixed income investments in times of pandemic. Its net written premiums fell 1% to $7.35 billion for the quarter.
Travelers reported pre-tax catastrophe losses of $854 million in the quarter, in comparison to losses of $367 million a year earlier due to severe storms in several regions of the United States. Its pre-tax insurance losses directly related to the pandemic amounted to $114 million. Net investment income fell 380% to $268 million due to lower returns from its fixed-income portfolio business, caused by low-interest rates.
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