(Bloomberg) -- Travelers Cos., the lone property-casualty insurer in the Dow Jones Industrial Average, said quarterly profit slipped 18 percent to its lowest since 2012 as costs tied to natural disasters rose while income from investments fell.
Second-quarter net income declined to $664 million, or $2.24 a share, from $812 million, or $2.53, a year earlier, New York-based Travelers said Thursday in a statement. Operating profit was $2.20 a share, beating the $2.04 estimate of 23 analysts surveyed by Bloomberg.
“Higher catastrophe losses, including the Fort McMurray wildfires” in Canada, hurt results, the insurer said in the statement.
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