Travelers sails past profit estimates on lower catastrophe losses

July 17 (Reuters) - Property and casualty insurance giant Travelers TRV.N swept past Wall Street estimates for second-quarter profit on Friday, boosted by lower catastrophe losses and robust investment income, sending its shares up 8.5%.

Demand for insurance has remained resilient despite broader spending pressures, as businesses and consumers continue to seek protection against financial, legal and catastrophe-related risks.

The firm, which is the first of the big U.S. insurers to post earnings, is considered a bellwether for the insurance industry, whose results offer a window into underwriting trends across the sector.

Travelers has generally taken a conservative approach to underwriting, regularly raising rates and limiting exposure to riskier lines to protect profitability, even as competitors seek volumes to fuel growth.