Travelers Companies, a US-based P&C insurer, has reported a net loss of $364m, or $0.88 per diluted share for the second quarter of the 2011, compared to net income of $670m, or $1.35 per diluted share for the same quarter of the last year.
In the second quarter of 2011, operating loss was $377m, or $0.91 per share, compared to operating income of $690m, or $1.39 per share in the prior-year quarter.
Total revenues were $6.39bn for the second quarter of 2011, compared $6.17bn in the same period of the last year.
Net written premiums rose 2% from last year to $5.82bn, reflecting pricing gains across all three business segments.
Travelers chairman and CEO Jay Fishman said the second quarter loss was due to the extraordinary tornadoes and hail storms that caused devastation across significant portions of the US.