Your Source for Up-To-Date News and Research on the Collision Repair Industry
click here to subscribe to the FREE INSIGHT Editor's Desk News Alert Email
SUBSCRIBERS-ONLY
Today's News
INSIGHT This Month
INSIGHT Archives
Survey Center
Letter to the Editor
Business Tools
Subscription Information
CSI Reporting
Financial Analysis
IRS Audit Guide
Management/
Technical Info
Market Watch Rates
INSIGHT Inside this month's issue...
Feedback
Letter to the Editor
Wednesday October 16
Travelers Property Casualty Reports Good Third Quarter; Net Written Premiums Grew 26%
Travelers Property Casualty Corp. has reported net income, which includes realized investment gains and losses, of $332.3 million or $0.33 per share, compared to a loss of $59.9 million or $0.08 per share in the prior year quarter. The prior year loss resulted from the September 11, 2001, terrorist attack. Excluding the impact of September 11, net income in the prior year quarter was $429.6 million or $0.43 per share adjusted to reflect the shares issued in the March 2002 initial public offering (the IPO shares).Operating income for the current year quarter was $360.1 million compared to a loss of $121.7 million in the prior year quarter due to September 11. On a per share basis, the Company recorded operating income of $0.36 in the current year quarter compared to a loss of $0.16 in the prior year quarter. Excluding the impact of the September 11 event, operating income in the prior year quarter was $367.8 million or $0.37 per share adjusted for the IPO shares.
©2002 Collision Repair Industry INSIGHT
All Rights Reserved
FEATURED
LINKS:
INSIGHT Supports the NABC!
Do You?