Improved Underwriting Lifts Travelers' Q3 Earnings, Investment Income Still A Drag

Travelers, which is among the top property and casualty (P&C) insurers in the U.S. in terms of market share, has benefited in recent quarters from its tight underwriting discipline. Higher retention rates and premium rate increases also added to the growth experienced during the third quarter. However, persistent low interest rates continued to be a drag on the company's investment income during the quarter. Both short term and long tern fixed income investments continue to feel the adverse impa...