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Chubb's operating earnings up despite huge cat losses

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Switzerland-based Chubb Ltd. reported a 34% increase in operating earnings for the second quarter of 2016 despite sustaining huge catastrophe losses during the quarter, reported MarketWatch.

Chubb said that its pretax catastrophe losses totaled $390 million in the quarter. The insurer's net premiums written increased 60% to $7.64 billion. Chubb recorded a profit of $726 million in the quarter, down 22% from the same period in 2015.

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