The Chubb Corporation has revealed a net income of $603 million for the first quarter of this year – a 30% increase over the corresponding period last year.

Operating income increased by 43% to $564.5 million, as did net written premiums, which rose 1% to $3.98 billion.

While premiums for the insurance business grew 3%, premiums for the reinsurance business (Chubb Re) were down 12%.

Chubb CEO John Finnegan attributed the quarter’s results largely to commercial insurance lines and improved homeowners insurance results.