Chubb operating income hikes; profits fall

Chubb, the insurer which recently agreed to be acquired by ACE, has posted a strong set of results for the second quarter of 2015.

Its 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.

Chubb’s 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.

Results for the second quarter of 2015 were impacted by approximately $20 million before tax for transaction-related expenses.