April 21- Property and casualty insurer Travelers Cos Inc reported a lower-than-expected quarterly profit as catastrophe losses nearly doubled, mainly due to hail storms in Texas in March. Two-thirds of those losses came from two severe storms in Texas in March, the company said. Texas was hit by several storms in March, including tornadoes that toppled power...
April 21- Property and casualty insurer Travelers Cos Inc reported a 17 percent fall in quarterly net profit on Thursday as catastrophe losses nearly doubled, mainly due to hail storms in Texas in late March. Travelers, a Dow-30 component, said its catastrophe losses jumped to $318 million, net of reinsurance, in the quarter ended March 31 from $162 million a year...
Travelers reported a 17 percent drop in profit on Thursday as catastrophe losses nearly doubled, mainly due to hail storms in Texas in late March.
April 21- Property and casualty insurer Travelers Cos Inc reported a 17 percent fall in quarterly net profit on Thursday as catastrophe losses nearly doubled, mainly due to hail storms in Texas in late March. The company's net income fell to $691 million, or $2.30 per share, in the first quarter ended March 31 from $833 million, or $2.55 per share, a year earlier.
CNBC's Diana Olick looks at a new product from ValueInsured aimed at protecting homeowners' downpayment from falling home prices; and speaks with Joe Melendez, ValueInsured CEO, and Barry Zigas, Zigas & Associates LLC founder.
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CNBC explains why there is a large gap between the number of households and amount of flood insurance policies in high-risk areas.
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Travelers Companies announced on Tuesday that Alan D. Schnitzer will succeed Jay S. Fishman as CEO effective Dec. 1 of this year.