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3 years ago
Insurer Chubb's profit falls 32 pct on higher catastrophe losses
April 24, 2014 / 8:13 PM / 3 years ago

Insurer Chubb's profit falls 32 pct on higher catastrophe losses

April 24 (Reuters) - Property and casualty insurer Chubb Corp reported a 32 percent fall in first-quarter profit, hurt by higher catastrophe losses related to the severe winter in the United States.

The company's net income fell to $449 million, or $1.80 per share, for the quarter ended March 31, from $656 million, or $2.48 per share, a year earlier.

Underwriting income fell 57 percent to $208 million. (Reporting by Neha Dimri in Bangalore; Editing by Savio D'Souza)

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