Travelers Earnings Miss Forecasts in Fourth Quarter
Travelerson Tuesday reported fourth-quarter earnings slightly below analysts' forecasts.
"In light of the fact that 2011 was the costliest catastrophe year on record for the insurance industry on a global basis, we are pleased that the strength of our businesses enabled us to generate net income of $1.4 billion and to grow book value per share by 7 percent," Jay Fishman, Chairman and Chief Executive Officer for Travelers , said in a statement.
The group earned a net income per share of $1.51 and an operating profit per share of $1.48 in the fourth quarter. Analysts had forecast earnings of $1.53 per share.
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