(Bloomberg) -- Travelers Cos., the only property-casualtyinsurer in the Dow Jones Industrial Average, said second-quarterprofit advanced 19 percent as natural-disaster costs dropped.
Net income climbed to $812 million, or $2.53 a share, from $683million, or $1.95, a year earlier, the New York-based company saidTuesday in a statement. Operating profit, which excludes someinvestment results, was $2.52 a share, beating the $2.12 averageestimate of 25 analysts surveyed by Bloomberg.
Chief Executive Officer Jay Fishman has focused in recent yearson buying back shares rather than pursuing large takeovers. Thatcontrasts with the approach of Ace Ltd., which announced a dealthis month to buy Chubb Corp. for more than $28 billion.
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