The Travelers Cos. (TRV) said second-quarter profit rose 85% on price increases, lower catastrophe costs and the resolution of tax and legal disputes.
Net income was $925 million, or a record $2.41 a share, up from $499 million, or $1.26 a share, in last year’s second quarter. Operating profit of $2.13 a share beat the $1.60 consensus estimate.
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