Cat loss surprises put analysts on guard

Travelers and Allstate became the latest US insurers to reveal
higher-than-forecast cat losses today after unexpected inclement
weather occurred towards the end of the first quarter.
Travelers said earlier today that its first quarter operating
profitfell by 12 percent year-on-year to $614mn, or $2.17 per share,
which was $0.20 below consensus expectations on Wall Street.
Analysts said above-forecast cat losses caused much of the
shortfall.For its part, Allstate revealed it had overshot cat loss