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Travelers' Stock Soars On Third-Quarter Earnings

Travelers' Stock Soars On Third-Quarter Earnings

The Travelers Cos. reported soaring profits for the third-quarter Thursday as the company benefited from its ability to retain customers while raising prices, and it was spared by a relatively calm hurricane season. Net income for the three-month period ending Sept. 30 was $864 million, or $2.21 per diluted share, compared with $333 million, or 79 cents per diluted share, during the same period in 2011. "We remain committed to continuing to improve profitability through a strategy of actively, but selectively, seeking price increases and improved terms and conditions, given historically low interest rates and uncertain weather patterns," said Travelers Chairman and CEO Jay...

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