Travelers Companies Inc. said it estimates fourth-quarter catastrophe losses related to the recent California wildfires of $525 million to $675 million before tax. The estimate includes recoveries from reinsurance. That compares with pre-tax catastrophe losses of $700 million in the third quarter, resulting primarily from Hurricanes Harvey, Irma and Maria. The insurer said it plans to resume share repurchases, something it had previously suspended while it assessed catastrophe losses. The company is hosting a investor day on Nov. 13. The stock ticked up 0.2% in premarket trade. It has gained 2.6% over the past three months, while the PowerShares KBW Property & Casualty Insurance ETF has slipped 0.6% and the S&P 500 has advanced 4.9%.
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