NU Online News Service, Jan. 27, 12:43 p.m. EST

Warren, N.J.-based insurer Chubb says its 2011 fourth-quarter net income decreased 27 percent as losses and operating costs increased over the same period last year.

Despite the results, John D. Finnegan, chairman, president and chief executive officer describes the results as a solid performance for the company as it saw sustained rate increases across the board. Nonetheless, he says the insurance market remains competitive.

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