Travelers (NYSE: TRV) posted solid growth in the second quarter despite a tough insurance backdrop and inflationary effects on both wages and materials, which have impacted both auto and homeowners insurance claims in the period. According to Michael Klein, president of personal insurance, one-third of the increase was due to non-catastrophe weather losses, which was in line with expectations. That, and the insurer would benefit from higher returns on its investment portfolio as interest rates tend to rise as inflation stays elevated.