Search
 

Insurer Chubb Profit Jumps Five-Fold, $1.5B Buyback Planned

Property and casualty insurer Chubb Corp reported a better-than-expected quarterly profit as its claims fell 30% and announced a $1.5 billion share buyback.

By Reuters | Updated on January 31, 2014

(Reuters) – Property and casualty insurer Chubb Corp reported a better-than-expected quarterly profit as its claims fell 30% and announced a $1.5 billion share buyback.

The company, however, warned that first-quarter results would be hurt by severe winter weather in the United States that would trim net profit by 39-52 cents per share after tax.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.