Chubb Increases Dividend Payment

Chubb Corp. has declared an increase of 16 percent in its quarterly dividend.

The Warren, N.J.-based insurer said Friday it will pay a quarterly dividend of 29 cents a share on April 3 to shareholders of record as of March 16.

The payment represents an increase of 4 cents per share over the last quarterly dividend payment of 25 cents.

In January, the company reported net income rose 6 percent, or $39 million, in the fourth quarter to $654 million. Earnings per share rose from $1.46 to $1.56. Net premium written dropped from $3 billion to $2.97 billon.

For the year, net income grew 38 percent, or $702 million, from $1.83 billion to $2.53 billion. Earnings per share rose from $4.47 to $5.98. Net premium written dropped from $12.3 billion to $12 billion.

Chubb's combined ratio improved in the quarter to 83.1 from 89.3 in 2005. For the year, the combined ratio stood at 84.2, compared with 92.3 for the 2005 full year.