Chubb Operating Earnings Tops Estimates

(RTTNews) - Chubb Corp (CB) on Thursday reported first-quarter net earnings of $375 million or $1.60 per share, compared with $449 million or $1.80 per share last year.

Results for the quarter included pre-tax net realized investment gains of $11 million, compared with gains of $116 million last year.

Excluding items, operating earnings for the quarter were $1.57 per share, compared with $1.50 per share a year ago.

Analysts polled by Thomson Reuters estimated earnings of $1.52 per share for the quarter. Analysts' estimates typically exclude special items.

Net premiums written for the quarter rose to $3.11 billion from $3.06 billion last year.

Analysts estimated revenues of $3.14 billion for the quarter.

The company's combined ratio for the quarter worsened to 93.9% from 93.2% last year.