January 30, 2014 / 9:26 PM / 4 years ago

Chubb profit jumps five-fold as claims fall

Jan 30 (Reuters) - Property and casualty insurer Chubb Corp reported a more than five-fold rise in quarterly profit as the company paid lower claims.

The company's net income rose to $569 million, or $2.24 per share, in the fourth quarter ended Dec. 31, from $102 million, or 38 cents per share, a year earlier.

Profit in the year-earlier quarter was heavily affected by Super storm Sandy, which battered the U.S. east coast in October 2012.

Net earned premium rose 4 percent to $3.04 billion.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below