January 22, 2019 / 2:50 PM / a year ago

Insurer Travelers to slow underwriting new business in California

Jan 22 (Reuters) - Property and casualty insurer Travelers Cos Inc said on Tuesday it is slowing underwriting new business in California due to wildfire risks.

The company’s shares fell as much as 2 percent in early trading, even as it reported better-than-expected profit and revenue in the fourth quarter.

Travelers also plans to raise rates of commercial auto insurance, the company said on a conference call. (Reporting by Bharath Manjesh in Bengaluru; Editing by Shounak Dasgupta)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below