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
  • 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.

  • Track Key Safety Performance Indicators

    IndustrySafe’s Dashboard Module allows organizations to easily track safety KPIs and metrics. Gain increased visibility into your business’ operations and safety data.

  • Analyze Incident Data

    Collect relevant incident data, analyze trends, and generate accurate regulatory reports, including OSHA 300, 300A, and 301 logs, through IndustrySafe’s extensive incident reporting and investigation module.

  • Safety Training 101

    When it comes to safety training, no matter the industry, there are always questions regarding requirements and certifications. We’ve put together a guide on key safety training topics, requirements for certifications, and answers to common training questions.

  • Conduct EHS Inspections and Audits

    Record and manage your organization’s inspection data with IndustrySafe’s Inspections module. IndustrySafe’s pre-built forms and checklists may be used as is, or can be customized to better suit the needs of your organization.

  • Industry Safe
comments powered by Disqus

OH&S Digital Edition

  • OHS Magazine Digital Edition - March 2019

    March 2019


      Not Your Grandpa's Ear Muffs 
      Far Too Many Fatal Falls
      Marijuana in the Workplace
      Ladder Safety Tips
    View This Issue