Chubb reports 2011 and Q4 profits
The Chubb Corporation has reported its financial results for the fourth quarter of 2011, including net income of $452m, equating to $1.60 per share.
This is around two-thirds the $620m ($2.02 per share) the firm made in the corresponding period last year, but is significantly greater than the Q3 2011 net income of $298m.
Operating income declined, year-on-year, from $519m to $460m, but rose from the previous quarter when it came to $252m.
Quarterly net written premiums increased by 4% to $3bn.
The firm made an annual net income of $1.7bn, equating to $5.76 per share, down by half a billion dollars from the $2.2bn ($6.76 per share) the firm made in 2010.
Operating income fell from $1.9bn to $1.5bn, with net written premiums up 5% to $11.8bn.
Chairman, President and Chief Executive Officer John D. Finnegan described the firm’s fourth quarter as solid, and expressed satisfaction with the firm’s annual net income, achieved despite unprecedented levels of catastrophe losses.
Category: Chubb News, Financials, Insurance News
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