NEW YORK (AP) _ The Travelers Cos. (TRV) on Thursday reported a second-quarter loss of $40 million, after reporting a profit in the same period a year earlier.
The New York-based company said it had a loss of 16 cents per share. Losses, adjusted for investment gains, came to 20 cents per share.
The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for a loss of 20 cents per share.
The insurer posted revenue of $7.4 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $7.75 billion.
Travelers shares have fallen 11% since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 1%. The stock has declined 18% in the last 12 months.