Chubb profit tops estimates on lower catastrophe losses

Oct 25 (Reuters) - Property and casualty insurer Chubb Corp's third-quarter profit beat Wall Street expectations as catastrophe losses fell sharply and insurance rates increased across its businesses.

Chubb said it lost $17 million on natural disasters in the latest third quarter, down from $420 million a year earlier.

Net profit was $533 million or $1.98 per share, compared with $298 million, or $1,04 per share, a year earlier.

Analysts on average expected earnings of $1.49 per share, according to Thomson Reuters I/B/E/S.