SEC To St. Paul Travelers: List $300M Loss
NU Online News Service, Aug. 2, 2:25 p.m. EDT?St. Paul Travelers said today that it will post a loss for the quarter based on advice from the Securities Exchange Commission on how to account for a $1.6 billion pre-tax reserve charge.[@@]
The Minnesota-based insurer said it will report a second-quarter 2004 net loss in the range of $275 million to $300 million, or 42 cents to 45 cents per share, after seeking guidance from the Securities and Exchange Commission on how to properly account for the reserve charge.
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