Travelers misses consensus as weather losses bite

US bellwether carrier Travelers undershot analyst predictions in
the second quarter as operating profit per share dropped to $1.92
against consensus expectations of $2.11.
Operating, or core, earnings per share were 13 percent lower
than the $2.20 reported in Q2 2016, while overall core income fell
16 percent year-on-year to $543mn.
Travelers shares were trading down 1.15 percent pre-market at
$126.46 as of 07:30 New York time.
The company said catastrophe losses had dealt a hit of $0.93 per
sha