Travelers declares results turnaround for Q2


“We are very pleased to report excellent underwriting and investment results, generating second-quarter core income of US$879 million, or US$3.45 per diluted share, and core return on equity of 13.7%,” said Alan Schnitzer, chairman and CEO of Travelers. “Higher underlying underwriting income and net favourable prior-year reserve development, as well as a lower level of catastrophe losses, all contributed to higher core income compared to the prior-year quarter.”

The company’s strong results allowed Travelers to return US$625 million of excess capital to shareholders in Q2, including US$401 million of share repurchases, Schnitzer said.

The company’s overall net written premiums grew

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Police arrest captain of HK cricket team for insurance fraud


The captain of Hong Kong’s men’s cricket team has been arrested over allegations of insurance fraud, according to a report from the South China Morning Post.

According to the SCMP, police arrested cricketer Aizaz Mohammad Khan for attempting to defraud his insurer of HK$3 million after he filed a claim for a traffic collision last year that allegedly left him unable to work.

Read more: Cricket World Cup washouts prove expensive for insurers – reports

Khan’s insurer referred the matter to the Hong Kong police’s commercial crime bureau after its review indicated fraud. And the police’s own investigation into the

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