Insurer Travelers Profit Falls on Hurricane Costs, Lower Investment Returns

A U.S. flag in a flooded rural area after Hurricane Ian caused widespread destruction in Arcadia, Fla., on Oct. 4, 2022. Marco Bello/Reuters

Property and casualty insurer Travelers Companies Inc. reported a 20 percent fall in quarterly profit on Wednesday, hurt by hurricane-related claims and lower returns on its investments.

The company’s core income fell to $526 million, or $2.20 per share, in the third quarter ended Sept. 30, from $655 million, or $2.60 per share, a year earlier.