Chubb Announces Third Quarter Financials | Insurance Operations Canada

Here are Chubb’s numbers for the third quarter and first nine months:

“Net income for the quarter was negatively impacted by a realized loss of US$502 million after tax, primarily due to the mark-to-market impact on derivatives and private equity, as well as the sale of fixed income securities. ‘ said Chubb.

“The non-life (non-life) combined ratio was 93.1%, compared with 93.4% in the previous year, and excluding catastrophe losses, the non-life combined ratio for the accident year was up from 84.8% in the previous year. 84.0%.”

Meanwhile, tangible book value includes a $1.48 billion impact on goodwill and other intangible assets related to the acquisition of Cigna’s Asian business.

Commenting on this figure, Chubb Chairman and Chief Executive Officer Evan G. Greenberg declared: All major areas of our business contributed. We delivered very good underwriting results despite a brisk and disastrous quarter.

“We delivered record investment returns, which is and will continue to be a source of revenue growth. Double-digit constant dollar P&C premium growth. Life insurance premiums more than doubled with the completion of the acquisition of Cigna’s Asian business.”

Greenberg said Chubb is optimistic about its prospects given the strength and momentum of the group’s units.

“Growth in investment income combined with growth in our P&C insurance business and underwriting margins. We expect it to continue to grow at a healthy rate over the years.”

Chubb operates in 54 countries and territories and has approximately 34,000 employees worldwide.