The Travelers losses stemming from US Midwest storms could top $1 billion

The Travelers Companies Inc. estimates its catastrophe losses related to the numerous and severe catastrophes in the U.S. Midwest in April and May of 2011 to range between $1 billion and $1.05 billion after-tax and net of reinsurance.These losses resulted from multiple tornadoes and hailstorms, primarily in the Midwest and Southeast regions of the United States, the largest of which occurred in the last week of April and affected 13 states, a Travelers release says. These catastrophe losses were concentrated in the company’s business insurance and personal insurance segments.