The Chubb Corporation reported 2008 fourth-quarter net income of $407 million, or $1.13 per share, a 37 percent decrease from net income of $650 million, or $1.68 per share in the 2007 period. The decrease was due mainly to investment losses, management said.

For the year, the Warren, N.J.-based insurer reported a net income of $1.8 billion, or $4.92 per share, down from $2.8 billion, or $7.01 per share in 2007. Net realized investment losses, including impairments, were $371 million before tax, Chubb said, while net income for 2007 included net realized investment gains of $374 million before tax.

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