Chubb’s third-quarter net profit improved 9.8% to $US594 million ($675 million), lifted by a solid underwriting performance and low catastrophe losses.

Net written premium increased to $US3.2 billion ($3.6 billion) from $US3 billion ($3.4 billion) in the corresponding period last year.

The US insurer’s combined operating ratio was 85.8% compared with 85.7%.

“Chubb had an outstanding quarter,” Chairman, President and CEO John Finnegan said.

“We once again achieved mid-single-digit increases in our US rate-change metrics, as well as high retention levels in all of our businesses.”