HVRRY - Travelers Q4 Catastrophe Losses Hit $611 Million After Reinsurance
U.S. primary insurance giant Travelers ([[TRV]]) reported its fourth-quarter 2018 results yesterday, revealing a $611 million catastrophe burden pre-tax and after taking into account reinsurance recoveries made.
As we explained yesterday, Travelers has bulked up on its reinsurance at the January renewal, adding a new aggregate catastrophe treaty which may be a response to the elevated level of catastrophe losses and losses from smaller severe weather events seen across the last two years.
In the fourth quarter of 2018, Travelers was hit particularly hard by the California wildfires and hurricane Michael.
The California wildfires