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Daily Insurance Industry News
Sunday 21st of January 2018
October 26, 2009

Chubb announces Q3 profits

by Richard Kilner

Story link: Chubb announces Q3 profits

The Chubb Corporation [NYSE: CB] has reported its third quarter results, including net income of $596m, equating to $1.69 per share.

This marks a significant increase on the Q3 2008 net profit of $264m, or $0.73 per share, and also marked an increase from Q2 2009, when the firm made a net profit of $551m.

Operating income surged by 63% from $338m to $552m, and operating income per share was up 68%.

Total net written premiums declined by 7%, for the second successive quarter, to $2.7bn.

Chairman, President and CEO John D. Finnegan has expressed his pleasure at the firm’s continually improving quarterly performance.

Finnegan went on to state that Chubb had focused upon cautious investment, underwriting discipline and active capital management, a strategy that has resulted in robust growth and increasing profits.

 

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