Daily Insurance Industry News
Daily Insurance Industry News
Sunday 21st of January 2018
January 28, 2011

Chubb reports Q4 and 2010 profits

by Richard Kilner

Story link: Chubb reports Q4 and 2010 profits

The Chubb Corporation has reported its financial results for the fourth quarter of 2010, during which it made a net profit of $620m, equating to $2.02 per share.

This is a moderate decline from the $695m ($2.03 per share) the firm made in the corresponding period last year, but a slight rise on the $572m ($1.80 per share) it made in Q3 2010.

Net written premiums rose by 3% to $2.9bn, and net operating income fell by $50m (year-on-year) to $519m.

For the full-year 2010 Chubb made net profits of $2.2bn ($6.76 per share), broadly flat with 2009 when it earnt $2.2bn ($6.18 per share).

Annual operating income fell by $300m to $1.9bn in 2010.

Chairman, President and Chief Executive Officer John D. Finnegan was enthusiastic about the firm’s performance, describing its quarterly and annual results as excellent.

Finnegan went on to state that the firm’s future goal was to achieve top-tier results regardless of market conditions, and expressed his confidence in the firm’s ability to achieve this.


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