Chubb Australia is confident about its future after its US parent announced a third-quarter profit increase of 125%.

The Chubb Corporation has reported a quarterly net income of $US596 million ($643 million) compared to $US264 million ($285 million) in the third quarter of last year.

Chubb Australia MD Mark Lingafelter says the financial crisis has created an environment where both brokers and insureds are focusing on the quality of their insurer. He says Chubb has been in a strong position to benefit from this flight to quality.

“Australian buyers are sensitive not just to financial strength but also to the attitude and approach that a carrier brings to settling their obligations at the time of a claim,” he said. “Both of these trends continue to create opportunities for Chubb to expand our business in Australia.”