Travelers beats consensus estimates by 16%

Travelers comfortably beat analysts' fourth earnings per share
estimates as higher investment income and proceeds from a one-off
reinsurance dispute settlement boosted the bottom line.
However, there was negative news on the firm's auto book,
where unfavourable prior-year development forced Travelers to
strengthen overall reserves in its personal insurance segment by
$45mn.
The trend on rate movements was modestly positive, but such
increases continued to lag behind loss-cost inflation, eroding