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Travelers Q2 Earnings Take Hit From Catastrophe Losses

By John F. Heerdink, Jr.

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.

To learn more about The Travelers Companies, Inc. (TRV) and to continue to track its progress please visit the Vista Partners Travelers Companies, Inc. Coverage Page. 

 

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives. 

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(Read Original Story: Travelers posts second-quarter loss, walloped by severe storms, civil unres in Reuters)


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