Chubb posts solid results in Q2
Insurer Chubb posted a solid set of results in the second quarter of 2015 as its operating profits hiked and its combined ratio improved.
Chubb’s operating income, which the company defines as net income excluding after-tax realised investment gains and losses, was $481 million in the second quarter of 2015, compared with $418 million in the second quarter of 2014.
The impact of catastrophes in the second quarter was $148 million before tax in 2015, compared with $146 million before tax in 2014.
Its net income fell slightly to $494 million in the quarter, compared with $499 million in the same period of the prior year, while its combined ratio improved to 85.5 percent in the second quarter of 2015, compared with 90 percent in the same quarter of 2014.
On June 30, 2015, Chubb agreed to be acquired by re/insurer ACE. Results for the second quarter of 2015 were impacted by approximately $20 million before tax for transaction-related expenses.
