US insurers’ first-quarter results are beginning to flow in, with the first few showing the recovery has been sustained.

Bermuda-based Ace Insurance posted an 81.7% increase over the corresponding quarter last year, with Chairman Brian Duperreault saying the $447 million profit was the result of a 10.7% growth in premiums.

Chubb Corporation reported a 61% increase in profit over the result for the first quarter of last year. Chairman John D Finnegan said in a statement that the result “reflects premium growth and a favourable loss experience, including unusually low commercial property losses”.

And the newly merged St Paul and Travelers also reported good earnings, although for now they are separate. The St Paul pulled in $587 million, while Travelers rode a 10% growth in premiums to a $3.4 billion quarterly profit.