Insurer Travelers to buy back up to $5 bln in shares

Tuesday, 22 Oct 2013 | 7:12 AM ET

Oct 22 (Reuters) - U.S. insurer Travelers Cos Inc said it would buy back an additional $5 billion of its shares under a new program.

The company said the buy back was in addition to the $759 million that remained from previous repurchase plans as of Sept. 30.

Travelers reported flat third-quarter net income of $864 million. On a per share basis, earnings increased to $2.30 per share from $2.21 per share a year earlier.

Travelers, a Dow Jones industrial average component, reported operating earnings of $2.35 per share.

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