NU Online News Service, Jan. 25, 12:09 p.m. EST
Due to a decrease in net favorable prior-year reserve development and an increase in catastrophe losses, The Travelers Companies reported a 30 percent drop in 2010 fourth-quarter net income compared to the prior year's fourth quarter.
The company reported net income of $894 million for the quarter, down from net income of $1.285 billion reported in the 2009 fourth quarter.
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