Travelers' 3Q Hit by Catastrophes, but There Are Some Underlying Positive Signs
As expected, Travelers' third-quarter results were largely dominated by the impact of hurricanes Harvey and Irma. The company incurred $700 million in catastrophe losses for the quarter, or 11% of its earned premiums. As a result, returns were materially diminished, with an ROE of 4.9% for the quarter and 8.5% year to date. However, looking at past catastrophes, we see some signs that the company is making progress in addressing its underwriting issues in personal lines. We will maintain our $13...Travelers Companies is a holding company. Through its subsidiaries, the company is engaged in providing commercial and personal property and casualty insurance products and services to businesses, government units, associations and individuals. The company's segments include: Business Insurance, which provides property and casualty insurance and insurance-related services; Bond and Specialty Insurance, which provides surety, fidelity, management liability, professional liability, and other property and casualty coverages and related risk management services, and certain specialty insurance products; and Personal Insurance, which writes property and casualty insurance covering individuals' personal risks.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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