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The Travelers Insurance Company was founded in Hartford by James G. Batterson, a stone contractor [12] who became aware for the first time of accident insurance for travelers (i.e., an early form of travel insurance) while traveling in England in 1859 from Leamington to London. [13]
In the days leading up to the earnings release several analysts following Travelers' stock raised their price targets on the shares. Among these were Morgan Stanley's Bob Huang and UBS' Brian ...
After the excellent results and Thursday's gains, the stock is now up 56.4% on the year. Travelers now trades at 16.6 times trailing earnings and about 2 times its adjusted book value per share .
The company primarily sells term life insurance, [1] as well as other financial services including auto and home insurance, mutual funds, and credit monitoring. [ 46 ] [ 8 ] In 2010, Primerica was reported to have over 100,000 representatives selling the company's financial products, with individual earnings averaging $5,156 per year. [ 4 ]
The company spun off its Travelers Property and Casualty insurance underwriting business in 2002. [41] The spin-off was prompted by the insurance unit's drag on Citigroup stock price because Travelers earnings were more seasonal and vulnerable to large disasters and events such as the September 11 attacks. It was also difficult to sell ...
Mercury stock suffered the steepest decline, dropping nearly 20%. Roughly one-fifth of the homeowners’ insurance premiums the company collects in the US come from California, according to Moody’s.
In 1980, the company became an insurance carrier when Essex Insurance Company was incorporated and licensed to write excess and surplus lines business. [5] In 1986, the Markel Corporation was listed on the NASDAQ exchange, with an IPO offered at $8.33 per share. The company's trading was moved to the NYSE in 1997. [6]
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