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The Travelers Companies, Inc. (NYSE:TRV) commented that its second quarter “reflected underlying underwriting margin improvement across all segments and strong net investment income given the continuing low interest rate environment. Our second quarter net income of $499 million benefited from meaningful improvement in our underlying underwriting margins as well as strong net investment income given the continuing low interest rate environment. However, earnings were also impacted by weather-related losses which, while much lower than in the prior year quarter, were considerably higher than we would have expected based on historical experience. We continue to be very pleased with pricing trends across our businesses.”
United Technologies Corp. (NYSE:UTX) is said by sources to Reuters, to be in final discussions to divest its Rocketdyne unit to GenCorp. (NYSE:GY), which a manufacturerer of aerospace propulsion systems.
Verizon Communications Inc. (NYSE:VZ) has added 120,000 net new FiOS Video connections in the second quarter.
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