Travelers CEO: Spring Storm Losses Exceeded Katrina's

The Travelers Companies Inc., one of the largest property casualty companies in the United States, posted $1.09 billion in after-tax catastrophe losses in second-quarter results released July 21.

Tornadoes and hail storms that battered several southern states caused greater losses for Travelers than did Hurricane Katrina, the company's chief executive said July 21. The Travelers Companies Inc., one of the largest property casualty companies in the United States, posted $1.09 billion in after-tax catastrophe losses ($1.67 billion pre tax) in second-quarter results.

"Our second quarter loss was due to the extraordinary tornadoes and hail storms that caused devastation across significant portions of the United States," said Jay Fishman, chairman and CEO. "To put this in perspective, these losses for us were larger than those we incurred from Hurricane Katrina in 2005 and the equivalent of losses we would expect from a 1-in-100-year hurricane. The human impact of these storms was extraordinary, including significant loss of life. Our thoughts are very much with those who have been affected personally. We were pleased that, notwithstanding the highly unusual frequency and severity of these events, the company's capital remained generally unchanged, reflecting our underlying earnings strength and thoughtful capital management strategy. We also appreciate the responsibility these events have placed on our entire claim organization and are proud of the speed and dedication with which they are responding."

Total revenues in the quarter were $6.388 billion, a $209 million (3 percent) increase from the same quarter of 2010.

Download Center

HTML - No Current Item Deck
  • Get the Ultimate Guide to OSHA Recordkeeping

    OSHA’s Form 300A posting deadline is February 1! Are you prepared? To help answer your key recordkeeping questions, IndustrySafe put together this guide with critical compliance information.

  • Steps to Conduct a JSA

    We've put together a comprehensive step-by-step guide to help you perform a job safety analysis (JSA), which includes a pre-built, JSA checklist and template, steps of a JSA, list of potential job hazards, and an overview of hazard control hierarchy.

  • Everything You Need to Know about Incident investigations

    Need some tips for conducting an incident investigation at work after there’s been an occupational injury or illness, or maybe even a near miss? This guide presents a comprehensive overview of methods of performing incident investigations to lead you through your next steps.

  • Free Safety Management Software Demo

    IndustrySafe Safety Management Software helps organizations to improve safety by providing a comprehensive toolset of software modules to help businesses identify trouble spots; reduce claims, lost days, OSHA fines; and more.

  • Industry Safe
Bulwark CP

OH&S Digital Edition

  • OHS Magazine Digital Edition - November December 2020

    November December 2020


      Managing Cold Stress
      Providing Training for Fall Protection
      Eight Tips for Hearing Testing Day
      Incorporating COVID-19 Protections into Safety Programs
    View This Issue