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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.
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