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Travelers Cos., the sole property-casualty insurer in the Dow Jones Industrial Average, posted its fourth-straight profit decline as weather-related costs climbed and investment income slipped.

Third-quarter net income fell 23 percent to $716 million, or $2.45 a share, from $928 million, or $2.97, a year earlier, New York-based Travelers said Thursday in a statement. Operating profit was $2.40 a share, beating the $2.36 average estimate of 21 analysts surveyed by Bloomberg.

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