Dec 5 Travelers Cos Inc said its
preliminary estimate of net losses from superstorm Sandy was
about $650 million after tax.
It estimates a gross loss of $1.135 billion excluding
expected recoveries from reinsurance, the company said in a
The company also said it intends to resume share buybacks
that it had temporarily suspended to assess its exposure to the
Sandy is likely to be the second-costliest disaster in U.S.
history, behind only Hurricane Katrina. Industry experts
estimate insured losses of as much as $25 billion, excluding
claims paid by the federal flood insurance program.
Allstate Corp said last week that it expects to
report October disaster losses of $1.08 billion, mostly due to