The Travelers Cos. says fourth-quarter net income was sliced in half due to losses associated with Superstorm Sandy.

Travelers says net income for the last quarter of 2012 was $304 million compared to $618 million for the same period the prior year. Fourth-quarter operating income fell to $278 million from $209 million.

Catastrophe losses for the fourth quarter were $689 million, after tax. In 2011 during the same three months, catastrophe losses were $68 million.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.