Chubb results on the up
International insurer Chubb has reported an 18% improvement on its second quarter net income, bringing in $US709 million ($833 million) for the three months to June 30.
Each of Chubb’s three major divisions – personal, corporate and specialty insurance – enjoyed an increase in net written premium.
CEO John Finnegan says it has been another period of solid growth for the group.
“We had another outstanding quarter with a record low combined ratio and substantial earnings contributions from all three business units,” he said. “We are particularly pleased that we have been able to generate modest premium growth in our insurance business while maintaining underwriting discipline in a challenging market environment.”
He says the outlook for the remainder of the year is also positive.
Each of Chubb’s three major divisions – personal, corporate and specialty insurance – enjoyed an increase in net written premium.
CEO John Finnegan says it has been another period of solid growth for the group.
“We had another outstanding quarter with a record low combined ratio and substantial earnings contributions from all three business units,” he said. “We are particularly pleased that we have been able to generate modest premium growth in our insurance business while maintaining underwriting discipline in a challenging market environment.”
He says the outlook for the remainder of the year is also positive.