wsj_0144.xml
WSJ891102-0047
WSJ891102-0047
=
891102
=
891102
891102-0047
.
891102-0047
.
Travelers
Profit
Rose
@
11
%
in
Third
Quarter
@
Despite
Hugo
Claims
Travelers
Profit
Rose
@
11
%
in
Third
Quarter
@
Despite
Hugo
Claims
11/02/89
11/02/89
11/02/89
WALL
STREET
JOURNAL
(
J
)
WALL
STREET
JOURNAL
(
J
)
TIC
TIC
EARNINGS
(
ERN
)
EARNINGS
(
ERN
)
HARTFORD
,
Conn.
HARTFORD
,
Conn.
Travelers
Corp.
's
third-quarter
net
income
rose
11
%
,
even
though
claims
stemming
from
Hurricane
Hugo
reduced
results
$
40
million
.
Net
advanced
to
$
94.2
million
,
or
89
cents
a
share
,
from
$
85
million
,
or
83
cents
a
share
,
including
net
realized
investment
gains
of
$
31
million
,
up
from
$
10
million
a
year
ago
.
But
revenue
declined
to
$
3
billion
from
$
3.2
billion
.
Travelers
estimated
that
the
California
earthquake
last
month
will
result
in
a
fourth-quarter
pre-tax
charge
of
less
than
$
10
million
.
The
insurer
's
earnings
from
commercial
property\/casualty
lines
fell
59
%
in
the
latest
quarter
,
while
it
lost
$
7.2
million
in
its
personal
property\/casualty
business
,
compared
with
earnings
of
$
6.1
million
a
year
ago
.
Travelers
's
employee
benefits
group
,
which
includes
its
group
health
insurance
operations
,
posted
earnings
of
$
24
million
,
compared
with
a
loss
of
$
3
million
last
year
.
In
the
first
nine
months
,
net
was
$
306
million
,
compared
with
a
loss
of
$
195
million
in
the
1988
period
.
The
year-ago
results
included
a
$
415
million
charge
in
the
1988
second
quarter
for
underperforming
real
estate
and
mortgage
loans
.