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According to Citi, Travelers Companies
TRV price target is lowered to $55.
Citi said that CAT modeling firms estimate losses from Irene on US properties ranging from $3B to $6B. “ALL's reported loss est is 10%+ share at the midpoint of this range. We suspect primary carriers will participate in the majority of Irene-related losses.”
Travelers Companies closed yesterday at $49.90.
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