Markets CB

Chubb Q3 Profit Rises

(RTTNews) - Chubb Limited (CB) on Tuesday reported third-quarter net income of $2.84 billion or $7.30 per share, up from $2.80 billion or $6.99 per share last year.

Core operating income was $2.98 billion or $7.66 per share, down from $3.05 billion or $7.60 per share last year.

Consolidated net premiums written grew 1.9% to $15.14 billion. Property and casualty (P&C) net premiums written increased 1.9% to $13.18 billion, while underwriting income declined 8.8% to $2.06 billion. The P&C combined ratio rose to 84.1% from 81.8%. Life Insurance net premiums written increased 1.4% to $1.96 billion, and segment income climbed 11.4% to $369 million.

Pre-tax net investment income rose 8.6% to a record $1.79 billion, while adjusted net investment income increased 6.3% to $1.89 billion.

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