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Daily Insurance Industry News
Tuesday 23rd of January 2018
April 20, 2012

Chubb welcomes strong start to 2012

by Richard Kilner

Story link: Chubb welcomes strong start to 2012

The Chubb Corporation has reported that in the first quarter of 2012 it made a net income of $506m, almost identical to the $509m it made during the corresponding period last year and better than the $452m of Q4 2011.

Year-on-year net income per share in Q1 rose by 8%, from $1.70 to $1.83.

Operating income for the quarter was recorded at $469m, significantly improved on the $405m of the corresponding period last year, and first quarter operating income per share rose from $1.35 in 2011 to $1.70 this year.

Catastrophes affected Q1 combined ratio 2012 by 0.8%, far less than the 9.5% impact they had upon the first quarter of 2011.

Net written premiums rose by 3% to $2.9bn, with premiums rising by 5% in the US and declining by 1% outside of the US.

Chairman, President and Chief Executive Officer John D. Finnegan said that the firm was off to a strong start in 2012, and welcomed the excellent Q1 results.

 

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