Travelers Earnings Up 13 Percent.

National Underwriter Property & Casualty-Risk & Benefits Management, November, 1999

While competitors in the property-casualty insurance segment were reporting earnings disappointments for the third quarter of 1999, Travelers Property Casualty Corp. in Hartford announced a 13 percent jump in operating earnings. Travelers, like other p-c insurers, had bad news to report about Hurricane Floyd and personal lines insurance products, but the benefit of a legislative action and favorable commercial lines reserve development from prior years helped Travelers to record $331.6 million in operating income, compared to $294.0 million last year.

Travelers said that New York and Pennsylvania legislative actions--changing the amount due from workers' compensation second injury funds--produced a $58.3 million benefit to third-quarter results. The...

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