Chubb's operating earnings up despite huge cat losses
Posted On: Jul. 27, 2016 12:00 AM CSTSwitzerland-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.