Travelers shares rise after Q2 profit beats estimates
BUZZ-Travelers shares rise after Q2 profit beats estimates Updates
** Shares of property and casualty insurer Travelers Companies TRV.N up 7.8% at $364.2
** Company's Q2 core profit jumps on lower catastrophe losses and strong investment income
** Quarterly core income per share rises 44% to $10.04 vs analysts' estimates of $5.42 — data compiled by LSEG
** Reports catastrophe losses of $518 million on a pre-tax basis, compared with $927 million a year earlier
** Analysts at J.P.Morgan say earnings beat across the board, but were especially strong in personal lines and business insurance
** Net investment income at $1.07 billion, up 13.6% over the year earlier
** Up to last close, shares up ~16% YTD
(Reporting by Shania S Thomas and Pragyan Kalita in Bengaluru)
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