NU Online News Service, July 21, 11:26 a.m. EDT
The Travelers Cos. says it recorded a second-quarter net loss of $364 million, driven by catastrophe losses greater than what the auto, home and business insurer saw from Hurricane Katrina.
Chief Executive Officer Jay Fishman adds that losses due to extreme tornadoes and hail during the second quarter were “the equivalent of losses we would expect from a 1-in-100-year hurricane.”
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