Business

Chubb Q3 profit rises, helped by strong premium revenue growth

Chubb Ltd. mentioned Tuesday its revenue rose within the third quarter, helped by sturdy premium income progress and underwriting outcomes.

The insurance coverage firm
CB,
-0.45%

reported web earnings of $1.83 billion, up from $1.19 billion within the third quarter of 2020. Earnings per share rose to $4.18 from $2.63 and core working earnings per share elevated to $2.64 from $2 a 12 months in the past.

Chubb mentioned consolidated web premiums written rose 15.8% within the three months via September in contrast with a 12 months earlier. Property and casualty web premiums written rose almost 17% within the interval, the corporate’s strongest natural progress since 2004, in response to Chief Govt Evan G. Greenberg.

Chubb had underwriting earnings of $617 million within the quarter, up 58% from a 12 months earlier, regardless of $1.1 billion of disaster losses, Mr. Greenberg mentioned.

Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com

https://www.marketwatch.com/story/chubb-3q-profit-rose-helped-by-strong-premium-revenue-growth-271635279972?rss=1&siteid=rss | Chubb Q3 revenue rises, helped by sturdy premium income progress

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