Chubb Profit Falls 1.9% to $558 Million on Investment Income
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Chubb Corp., the insurer of high-end homes and mega-yachts, said fourth-quarter profit fell 1.9 percent as investment income declined.
Net income dropped to $558 million, or $2.35 a share, from $569 million, or $2.24, a year earlier when there was more stock outstanding, the Warren, New Jersey-based company said in a statement Thursday. Operating profit, which excludes some investment results, was $2.29 a share, beating the $2.17 estimate of 20 analysts surveyed by Bloomberg.