NU Online News Service, July 22, 10:55 a.m. EDT
The Travelers Companies Inc. experienced a 9 percent drop in 2010 second quarter net income when compared to the same period last year as $439 million of record pre-tax catastrophe losses cut into profits.
The weather-related losses, though generated from events that would not grab national headlines, were at the highest level in the company's history for a second quarter, said Brian MacLean, president and chief operating officer, during a conference call.
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