The Travelers Companies reported a 25 percent drop in second-quarter net income that management blamed on weather-related issues, lower investment returns and the continuing competitive market.

The insurer reported net income of $942 million for the quarter, compared to $1.25 billion a year ago. Travelers said it realized an underwriting gain of $338 million despite suffering catastrophe losses of $231 million. In the second quarter of 2007, the company experienced $26 million in catastrophe losses and reported an underwriting gain of $449 million.

In a conference call, Joseph P. Lacher Jr., executive vice president, personal insurance and select accounts for Travelers, noted that this quarter was one of the worst in a while with respect to weather activity. He noted that Travelers still turned an underwriting profit despite the significant effects of the weather.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.