"U.S. Stocks" Chubb's core operating profit in the last quarter rose nearly 29%, beating expectations, with the property and casualty insurance combined ratio hitting a record

Chubb (CB.US), the parent company of Chubb Life Insurance, announced its third-quarter results, with net premium income of USD 14.866 billion, an annual increase of 7.5%, surpassing market expectations of USD 14.56 billion; net profit for the last quarter rose 20.5% to USD 2.801 billion, with earnings per share of USD 6.99. Core operating profit was USD 3.003 billion, up 28.7%, or USD 7.49 per share, exceeding market expectations of USD 6.14.

Headquartered in Switzerland, Chubb achieved a record property and casualty insurance combined ratio of 81.8%, significantly improving by nearly 6 percentage points year-on-year. This outstanding underwriting performance was attributed to a reduction in catastrophe losses, which fell from USD 765 million in the same quarter last year to USD 285 million.

Evan G. Greenberg, Chairman and CEO of Chubb, stated that the group had an exceptionally strong quarter. These results once again highlight the company's broad diversification in terms of geography, customer segments (including commercial and consumer sectors), products, and distribution channels.

Chubb's stock rose 0.4% to USD 269.26 on the evening of the 21st