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Travelers Defies Catastrophe Losses with Strong Profit

Travelers Defies Catastrophe Losses with Strong Profit Insurance giant Travelers exceeded analysts' expectations for first-quarter profits, buoyed by strong underwriting outcomes, despite facing over $2 billion in losses primarily from catastrophic California wildfires.Market shares jumped 2% pre-market, recovering from tariff-induced lows. The significant natural disaster, among California's priciest, resulted in numerous fatalities and substantial property damage, with economic loss estimates reaching $250 billion.Travelers' net catastrophe losses reached $2.27 billion for Q1, a stark rise from $712 million the previous year. Nonetheless, the company saw a 32% increase in pre-tax underlying underwriting income, driven by sustained demand for insurance. Despite challenges, significant factors such as stringent regulations and potential tariff-induced cost hikes present continuous obstacles for insurers operating in California.

Insurance giant Travelers exceeded analysts' expectations for first-quarter profits, buoyed by strong underwriting outcomes, despite facing over $2 billion in losses primarily from catastrophic California wildfires. Market shares jumped 2% pre-market, recovering from tariff-induced lows. The significant natural disaster, among California's priciest, resulted in numerous fatalities and substantial property damage, with economic loss estimates reaching $250 billion.

Travelers' net catastrophe losses reached $2.27 billion for Q1, a stark rise from $712 million the previous year. Nonetheless, the company saw a 32% increase in pre-tax underlying underwriting income, driven by sustained demand for insurance.

Despite challenges, significant factors such as stringent regulations and potential tariff-induced cost hikes present continuous obstacles for insurers operating in California. (With inputs from agencies.).