Chubb confirms Q3 financials | Insurance Business America

Here are the numbers for Chubb in Q3 and the primary 9 months:

“Net income in the quarter was adversely impacted by realized losses of $502 million after tax, principally due to the mark-to-market impact on derivatives and private equities as well as from sales in fixed income securities,” famous Chubb.

“The P&C (property and casualty) combined ratio was 93.1% compared to 93.4% prior year, and the current accident year P&C combined ratio excluding catastrophe losses was 84.0% compared to 84.8% prior year.”

Meanwhile tangible guide worth included the impression of $1.48 billion for goodwill and different intangible property associated to the acquisition of Cigna’s Asian operations.

Commenting on the figures, Chubb chair and chief government Evan G. Greenberg declared: “The broad-based power of the corporate globally was clearly evident within the quarter, with core working revenue up 15% and per share earnings of $3.17 up 20%. All main areas of our enterprise contributed. We produced merely wonderful underwriting outcomes regardless of an energetic disaster quarter.

“We had record investment income, which is and will be a growing source of earnings; double-digit P&C premium revenue growth in constant dollars, which was well balanced between commercial and consumer lines; and life insurance premiums that more than doubled with the closing of our acquisition of Cigna’s business in Asia.”

According to Greenberg, Chubb is optimistic about its prospects given the strengths and momentum of the group’s items.

“With the combination of growth and underwriting margins in our P&C businesses; our growth in investment income; and the future revenue and earnings contributions from our life insurance businesses in Asia, we expect EPS (earnings per share) to continue to grow at a healthy rate into the future,” he stated.

Chubb operates in 54 international locations and territories, with a world workforce of roughly 34,000 individuals.