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Chubb’s Q4 net income rises to $2.42bn

February 3, 2021

Global re/insurer Chubb has reported a 2020 fourth quarter net income of $2.42 billion, up from $1.17 billion in the prior year quarter.

Meanwhile, core operating income was $1.44 billion versus $1.04 billion prior year.

Q4 pre-tax catastrophe losses were $314 million compared with $430 million in the prior year period.

P&C underwriting income was $969 million, up 81.8%, leading to a P&C combined ratio of 87.6% compared with 92.7%.

The P&C current accident year combined ratio excluding catastrophe losses was 86.4% compared with 90.0%.

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