NU Online News Service, May 3, 1:30 p.m. EDT–The St. Paul Travelers Companies quarterly profit fell 64 percent as the insurer took account of a hefty tax charge from selling its stake in asset management firm Nuveen Investments, but operating income from continuing operations rose 49 percent.

The Minnesota.-based company==the second-largest business insurer in the country behind American International Group==said its 2005 first quarter income was $212 million, down from $587 million one year ago.

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