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Coverage contextAn insurer whose pretax underwriting profit fell as accident losses and advertising spending increased.
The conglomerate more than doubled its quarterly repurchases as operating earnings fell 5.8% from a year earlier to $12.71 billion, with weaker insurance results weighing on profit. It repurchased $4.5 billion in the second quarter, while insurance underwriting profit fell 43% to $1.35 billion.
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