Premiums rise as profits fall at Chubb
Chubb has reported net income in Q4 2011 of $452m (£287.7m) down from $620m in the same period of 2010.
The US insurer saw net written premiums for the quarter increase 4% to $3bn however its operating ratio deteriorated to 89.0% (Q4 2010 87%).
For the year ended 31 December 2011, net income fell to $1.7bn from $2.2bn in 2010 while net written premiums rose 5% to $11.8b (2010: $11.2bn).
The provider's operating ratio also fell back to 95.3% compared to 89.3% in 2010.
John D. Finnegan, chairman, president and chief executive officer at Chubb commented: "We were very pleased to record $1.7bn in net
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