CHUBB: Net Premiums Written Up 5.9% in Q1

Chubb Limited (NYSE: CB) today reported net income for the quarter ended March 31, 2018 of USD 1,082 million, or USD 2.30 per share, compared with USD 1,093 million, or USD 2.31 per share, for the same quarter last year. Core operating income was USD 1,097 million, or USD 2.34 per share, compared with USD 1,175 million, or USD 2.48 per share, for the same quarter last year. The property and casualty (P&C) combined ratio was 90.1%. Book value and tangible book value per share decreased 0.2% and 0.3%, respectively, from December 31, 2017 and now stand at USD 110.10 and USD 65.65, respectively. Book value and tangible book value per share growth was negatively impacted by realized and unrealized losses of USD 938 million, after-tax, in the company's investment portfolio, driven by rising interest rates. Foreign currency movement favorably impacted book value by USD 310 million after-tax and tangible book value by USD 136 million after-tax. Read the full story
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