Chubb Reports 61% Rise In Quarterly Profit

NU Online News Service, April 27, 3:44 p.m. EDT?The Chubb Corp., citing earnings from higher premiums and favorable property-casualty underwriting units' loss experience, reported a $360.7 million first-quarter profit, a 61 percent rise over $224.6 million reported during the corresponding 2003 period.[@@]

The Warren, N.J.-based insurer said its net written premiums for the first quarter rose 13 percent to $3 billion, with Chubb Re premiums accounting for 4 percentage points in this growth. The company said its U.S. premiums grew 11 percent while its non-U.S. premiums rose 19 percent.

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