Chubb 3Q Profit Rose, Helped by Strong Premium Revenue Growth
October 26 2021 - 4:56PM
Dow Jones News
By Jeffrey T. Lewis
Chubb Ltd. said Tuesday its profit rose in the third quarter,
helped by strong premium revenue growth and underwriting
results.
The insurance company reported net income of $1.83 billion, up
from $1.19 billion in the third quarter of 2020. Earnings per share
rose to $4.18 from $2.63 and core operating income per share
increased to $2.64 from $2 a year ago.
Chubb said consolidated net premiums written rose 15.8% in the
three months through September compared with a year earlier.
Property and casualty net premiums written rose nearly 17% in the
period, the company's strongest organic growth since 2004,
according to Chief Executive Evan G. Greenberg.
Chubb had underwriting income of $617 million in the quarter, up
58% from a year earlier, despite $1.1 billion of catastrophe
losses, Mr. Greenberg said.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
(END) Dow Jones Newswires
October 26, 2021 16:41 ET (20:41 GMT)
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