Chubb's (CB) Earnings Beat Estimates In Q2, Decrease Y/Y
Zacks Investment Research | Jul 23, 2019 10:50PM ET
Chubb Limited (NYSE:CB) reported second-quarter 2019 core operating income of $2.60 per share, which outpaced the Zacks Consensus Estimate by 0.8%. The upside was driven by higher premium revenues. However, the bottom line dipped 3% from the year-ago quarter.
Quarter in Detail
Net premiums written improved 4.2% year over year to about $7.7 billion in the quarter. Net premiums earned rose 3% year over year to $7.29 billion.
Net investment income was $859 million, up 3.7% from the comparable quarter last year.
Property and casualty underwriting income was $727 million, down 11.7% from the year-ago period.
Combined ratio expanded 170 basis points (bps) to 90.1%.
Chubb reported after-tax catastrophe loss of $221 million in the reported quarter, wider than the year-ago quarter’s loss of $173 million.
Chubb Limited Price, Consensus and EPS Surprise
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