Travelers reported second-quarter net income of $670 million, or $1.35 a share, compared with $740 million, or $1.27 a share, a year ago. The company reported the 6% increase in per-share earnings in light of record second-quarter weather losses. Operating income was $690 million, or $1.39 a share, compared with $732 million, or $1.25 a share, in the prior-year quarter. The company said it is encouraged by the operating environment experienced in the personal insurance segment during the quarter and added that renewal premium changes continued to be strong. Analysts surveyed by Thomson Reuters were expecting earnings of $1.51 a share. Net written premiums increased 1% to $5.688 billion. >>Search for Highest Dividends by Rate or Yield Shares of Travelers fell 1% to $49.87 at the closing bell Wednesday.
NEW YORK ( TheStreet) -- Travelers ( TRV) lowered the upper end of its full-year operating income guidance by 10 cents to a range of $5.20 to $5.45 a share because of the continuing difficult economic environment.
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