CB DBA Chubb Limited

By Allison Prang

Chubb Ltd., the property and casualty insurance company, logged an increase in profit and net premiums written for its fourth quarter.

Chubb's net income increased to $2.42 billion, from $1.17 billion a year earlier. Earnings were $5.34 a share, up from $2.57 a share.

The company said core operating income was $3.18 a share. According to FactSet, analysts were expecting $2.82 a share.

"We are off to a good start in '21 with both growth and the level of commercial P&C rate increases resembling the underwriting conditions of the fourth quarter," Chief Executive and Chairman Evan Greenberg said in prepared remarks.

Net premiums written were $8.41 billion. They rose over 5% from a year earlier. Net premiums earned were $8.43 billion, up over 6%.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

February 02, 2021 16:31 ET (21:31 GMT)

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