Catastrophe and asbestos charges caused a 41 percent decline in 2005 fourth-quarter profits for St. Paul Travelers, the company said today.
Fourth-quarter net income was $179 million, down from $303 million in the comparable year-ago period.
Special charges included $860 million pretax to develop an asbestos and environment reserve and $435 million related to catastrophe losses from last year's storms.
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