Seattle-based Safeco Inc. reported third-quarter profits of $101.1 million, compared to a loss for the comparable year-ago period.
The company said it sustained $115.8 million in catastrophe losses in this year's third quarter, mostly attributable to Hurricanes Katrina and Rita.
Last year's third-quarter earnings were marred by catastrophe losses of $126 million, along with some red ink from the sale of the company's life and investment businesses.
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