US property and casualty insurer, Travelers, has reported a quarterly loss of $793m (£490m) on the back of a charge to cover asbestos losses.
The third largest US insurer said the loss was caused by the $1.3bn (£804m) charge for increasing reserves to pay for asbestos-related injury claims.
That compared with a profit of $303m (£187m), in the same quarter last year.
Travelers' shares closed at $16.03 (£9.81) each. They have fallen 13% from their initial public offering price of $18.50 (£11.44) in March.
