Travelers Reports 46% Rise in Profit and 9% Stock Gain Amid Decline in Catastrophe Losses
Travelers (TRV) reported a significant jump in second-quarter net income, rising by 46% year-over-year to $2.2 billion due primarily to reduced catastrophe losses and favorable prior-year reserve development. Its stock surged nearly 9%, outperforming the broader market as semiconductor stocks declined.
Tickers: $TRV