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Travelers Posts Big Earnings Miss as Catastrophe Losses Expand

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The property and casualty insurance company posts third-quarter core earnings of $1.95 a share, below forecasts of $2.99.

Third-quarter earnings at Travelers Cos. missed estimates after the insurer’s catastrophe losses expanded.

Catastrophe losses were $850 million, far larger than the $512 million from a year earlier, mainly due to “numerous severe wind and hail storms in multiple states.”

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