(Reuters) – Travelers Cos Inc posted a record quarterly operating profit as prices rose and losses from natural disasters fell sharply, the property insurance company said on Thursday.
Travelers was able to increase rates in all business lines and also retain customers, a strong sign for the rest of the industry. The company has been a bellwether of insurers' ability to raise pricing after years of weakness.
Shares of Travelers rose as much as 4.6 percent to set an all-time high.
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