(Reuters) – Property and casualty insurer Chubb Corp reported a weaker-than-expected first-quarter profit, hurt by higher catastrophe losses related to severe winter in the United States.
On an operating basis, Chubb earned $1.50 per share, below analysts' average estimate of $1.56 per share, according to Thomson Reuters I/B/E/S.
"Results were adversely impacted by several factors, including catastrophe and non-catastrophe losses related to severe winter weather in the United States. Chubb also suffered an unusually high level of homeowners' fire losses…," Chief Executive John D. Finnegan said in a statement.
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