Travelers leads P&C shares down

Travelers led a slew of P&C stocks down in trading today (21
April) as investors reacted negatively to an earnings miss driven
by higher cat losses and slowing reserve releases.
They were also disappointed by lower-than-expected share
buybacks and pricing in the US carrier's core business
insurance book that turned negative.
The giant insurer saw shares close down 6.05 percent in New York
at $108.79 after it revealed a 15.6 percent reduction in operating
income for Q1 which at $2.33...