Travelers second-quarter profit rises 85%

Travelers posted a net income of $925m in the second quarter, up from $499m in the previous quarter.

The US insurer’s bottom increased amid price increases, lower catastrophes and investment gains.

Travelers chief executive Jay Fishman has aimed to increase rates over the last three years, arguing that an increase in natural disasters and lower interest rates needs to be offset.

Fishman said: “Given the environment of low interest rates and volatile weather patterns, we will continue to seek higher margins.”