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.
Category: Chubb News, Financials, Insurance News
