Chubb announces Q2 results
The Chubb Corporation has reported that in the second quarter of the year it made net income of $518m, equating to $1.59 per share.
This is down somewhat on the $551m net income the firm made during Q2 2009, although the same quarter saw net income of $1.54 per share.
Operating income fell by $73m to $460m, with operating income per share down 5% to $1.41.
Net written premiums were up 1% ($0.1bn) to $2.9bn, with premiums down 1% in the US but up 11% outside the US.
For the first six months of 2010 Chubb made $982m net profit, or $2.97 per share.
Both these figures are improvements on the net profit of $892m, $2.49 per share, of the same period in 2009.
Chairman, President and Chief Executive Officer John D. Finnegan has described the firm’s operating income per share of $1.41 as outstanding, given it was achieved in a highly competitive environment with a $0.38 per share hit due to catastrophe losses.
Category: Chubb News, Financials, Insurance News
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