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Oct. 26, 2021, 5:15 p.m. EDT

Chubb Q3 profit rises, helped by strong premium revenue growth

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By Jeffrey T. Lewis

Chubb Ltd. said Tuesday its profit rose in the third quarter, helped by strong premium revenue growth and underwriting results.

The insurance company /zigman2/quotes/209397502/composite CB -0.49% reported net income of $1.83 billion, up from $1.19 billion in the third quarter of 2020. Earnings per share rose to $4.18 from $2.63 and core operating income per share increased to $2.64 from $2 a year ago.

Chubb said consolidated net premiums written rose 15.8% in the three months through September compared with a year earlier. Property and casualty net premiums written rose nearly 17% in the period, the company’s strongest organic growth since 2004, according to Chief Executive Evan G. Greenberg.

Chubb had underwriting income of $617 million in the quarter, up 58% from a year earlier, despite $1.1 billion of catastrophe losses, Mr. Greenberg said.

Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com

/zigman2/quotes/209397502/composite
US : U.S.: NYSE
$ 181.46
-0.90 -0.49%
Volume: 2.48M
Dec. 3, 2021 4:00p
P/E Ratio
9.24
Dividend Yield
1.76%
Market Cap
$78.16 billion
Rev. per Employee
$1.16M
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