The Chubb Corporation reported third quarter net income yesterday of $604 million, compared to $246 million for the same 2005 quarter.
The numbers beat the consensus estimate by 11 cents per share, according to Bear Stearns analyst David Small. “In our view the quarter was characterized by lackluster top-line production offset by continued strong underlying profitability in core operations,” Mr. Small wrote.
Last year, Chubb's results for the third quarter were adversely affected by pre-tax costs of $511 million related to Hurricane Katrina.
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