Travelers operating income slumps in Q3

Travelers' operating income fell by a quarter in the three
months to 30 September as a higher loss ratio and a $225mn asbestos
charge caused pain and US P&C commercial price rises continued
to slow.
Operating earnings per share fell 18 percent year-on-year to
$2.40 but beat the analysts' consensus of $2.38.
The carrier, which is considered a bellwether for the wider US
commercial insurance market, saw its key rating indices stay in
positive territory on a nominal basis in...