January 22, 2019 / 11:58 AM / 5 months ago

Insurer Travelers fourth-quarter profit rises 13 percent

Jan 22 (Reuters) - Property and casualty insurer Travelers Cos Inc reported a 13 percent rise in fourth-quarter profit on Tuesday, compared to a year earlier when it took a one-time charge related to a change in U.S. tax laws.

Net income rose to $621 million, or $2.32 per share, in the fourth quarter ended Dec. 31, from $551 million, or $1.98 per share, a year earlier.

The Dow component recorded pre-tax catastrophe losses of $453 million from the California wildfires and $158 million from Hurricane Michael in the reported quarter. (Reporting by Bharath Manjesh in Bengaluru; Editing by Shounak Dasgupta)

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