Chubb reported a net loss for the quarter ended September of USD 70 million

Chubb Limited today reported a net loss for the quarter ended September 30, 2017 of USD (70) million, or USD (0.15) per share, compared with net income of USD 1,360 million, or USD 2.88 per share, for the same quarter last year. Operating loss was USD (60) million, or USD (0.13) per share, compared with operating income of USD 1,356 million, or USD 2.88 per share, for the same quarter last year. The property and casualty (P&C) combined ratio was 110.8% for the quarter driven by significant catastrophe losses. Book value per share increased 0.5% and tangible book value per share decreased (0.3)% from June 30, 2017 and now stand at USD 108.74 and USD 65.06, respectively. Book value and tangible book value were favorably impacted by net realized and unrealized gains of USD 162 million after-tax in the company's investment portfolio. Additionally, foreign currency movement favorably impacted book value by USD 675 million after-tax and tangible book value by USD 337 million after-tax. Read the full story
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