UPDATE 2-Travelers profit misses estimates as investment income falls *Q1 operating profit $2.53/ share, a cent below estimate. *Pretax net investment income down about 20 pct to $592 mln. April 21- Property and casualty insurer Travelers Cos Inc's quarterly net profit fell 21 percent, narrowly missing analysts' estimates, as low interest rates and a drop in value of its energy investments squeezed the company's net investment income.
| By: Avik Das
UPDATE 1-Travelers profit falls 21 pct on lower investment returns April 21- Property and casualty insurer Travelers Cos Inc reported a 21 percent fall in quarterly net profit due to lower net investment income and a drop in underwriting gains. The company said net income fell to $833 million, or $2.55 per share, for the first quarter ended March 31, from $1.05 billion, or $2.95 per share, a year earlier. Pretax net investment income...
Travelers misses Street 1Q forecasts NEW YORK- The Travelers Cos. on Tuesday reported first-quarter profit of $833 million. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $2.56 per share. Five analysts surveyed by Zacks expected $6.64 billion.
Source: The Associated Press