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Reuters
U.S. insurer Travelers posts record profit on investment returns
The New York-based company, a component of the Dow Jones Industrial Average Index, is seen as a bellwether for the insurance sector as it typically reports before its peers. Travelers’ pre-tax net investment income jumped 10% to $743 million, driven by higher returns on its private equity and real estate partnership. Travelers said the catastrophe losses it incurred in the quarter mainly stemmed from tornado activity in Kentucky, windstorms in multiple U.S. states and a wildfire in Colorado.
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