Reported 2 days ago
Chubb Insurance reported an increase in its fourth-quarter profit due to robust performance in its underwriting business and high investment returns. Despite this success, the company anticipates a $1.5 billion pre-tax net cost from the recent California wildfires, which will affect its first quarter of 2025. Insurance expenditures have remained resilient as individuals and businesses continue to seek coverage against various risks, contributing to a 6.7% year-over-year rise in net premiums. Additionally, Chubb's net investment income soared 13.7% to $1.69 billion, reflecting favorable market conditions.
Source: YAHOO