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Chubb Reports Increase In Net Income Revenues

Reported a net income of $596m in the third quarter of 2009

The Chubb Corporation has reported a net income of $596m or $1.69 per share in the third quarter of 2009 compared to $264m or $0.73 per share in the third quarter of 2008.

The operating income has increased 63% to $552 million from $338 million in the third quarter of 2008. The operating income per share increased 68% to $1.56 from $0.93.

The total net written premiums for the third quarter declined 7% to $2.7 billion from $2.9 billion, they declined 5% excluding the effect of foreign currency translation. The premiums were down 7% in the US and down 7% outside the US (up 1% in local currencies).

For the first nine months of 2009, the net income was $1.5 billion or $4.18 per share, compared with $1.4 billion or $3.78 per share for the first nine months of 2008.

The operating income for the first nine months increased 8% to $1.6 billion in 2009 from $1.5 billion in 2008. The operating income per share for the first nine months increased 13% to $4.49 from $3.99.

The total net written premiums for the first nine months declined 7% to $8.3 billion from $8.9 billion, they were down 4% excluding the effect of foreign currency translation. The premiums declined 5% in the US and declined 11% outside the US.