Travelers Net Income Plunges 59% During Hurricane Season

Harvey, Irma and Maria took a bite out of Travelers Insurance’s bottom line in the third quarter. The carrier on Thursday reported net income of $293 million, compared to $716 million in the third quarter of 2016. Travelers said catastrophe losses added 9.3 points to its combined ratio of 103.2% in the third quarter, up from 92.9% in the prior-year quarter. But Chairman and Chief Executive Officer Alan Schnitzer looked at the bright side: “In a quarter of unprecedented hurricane activity, our strength in underwriting and our investment expertise enabled us to deliver core inco...