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Insurer Travelers' profit beats as underwriting gains surge

Property and casualty insurer Travelers Cos Inc (TRV.N) reported a better-than-expected quarterly profit, helped by higher underwriting gains.

Travelers, which competes with American International Group Inc (AIG.N) for the title of the biggest U.S. commercial property and casualty insurer, said underwriting gains rose about 35 percent to $759 million in the third...