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Daily Insurance Industry News
Thursday 18th of October 2018
October 26, 2012

Chubb reports record Q3 results

by Richard Kilner

Story link: Chubb reports record Q3 results

The Chubb Corporation has reported that in the third quarter of 2012 it made a net income of $533m, a significant increase on the $298m it made during the corresponding period last year.

Net income per share saw a similarly substantial improvement, rising year-on-year from $1.04 to $1.98.

Quarterly operating income more than doubled from $252m to $533m, and the quarter benefited from a catastrophe impact (before tax) of just $17m, compared to $420m in Q3 2011.

The third quarter also saw net written premiums rise 3% to $2.9bn.

Chairman, President and Chief Executive Officer John D. Finnegan said that the firm’s third quarter operating earnings per share of $1.98 were the highest of any quarter in Chubb’s history, and attributed the record result to low catastrophe losses and a strong underlying underwriting performance.

 

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