St. Paul Travelers has revealed that second-quarter net income fell to $970m from $1.07bn a year ago.
The year-ago results were bolstered by a $138m aftertax gain from discontinued operations, mostly related to the partial sale of its stake in Nuveen Investments.
Operating income before investment gains and losses was $959m.
The company said net written premiums rose 8% to $5.66bn, while net investment income rose 13% to $673m.
