(Reuters) - Property and casualty insurer Chubb Corp (CB.N) 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 December 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.
Reporting by Avik Das in Bangalore; Editing by Sriraj Kalluvila