BUZZ-Chubb rises as Q4 profit beat offsets LA wildfire loss concerns

Reuters
01-30
BUZZ-Chubb rises as Q4 profit beat offsets LA wildfire loss concerns

** U.S.-listed shares of insurer Chubb CB.N rise ~3% to $280.27

** After market close on Tuesday, co reported Q4 core profit of $6.02 per share, vs Wall Street views of $5.44 per share, according to data compiled by LSEG

** Net premiums written - a gauge on insurer's actual risk exposure and its retained premium income - rose to $12.1 bln in Q4, topping analysts' estimates of $10.9 bln

** CB's estimates $1.5 bln hit in Q1, on a pre-tax basis, from catastrophe losses tied to LA wildfires; analysts estimate industry-wide insured losses as high as $40 bln from the event

** Robust spending on policies has helped the insurance industry offset the impact of elevated catastrophe claims

** CB's Q4 pre-tax catastrophe losses were $607 mln, including $309 mln from Hurricane Milton, vs $300 mln, a year earlier

** Co's property and casualty underwriting income climbed 3.8% to a quarterly record of $1.58 billion

** "We believe that CB's underwriting acumen, scale, and flexible approach with product mix will drive strong margins over time," J.P. Morgan analysts write in a note

** Chubb shares on the NYSE climbed 22.3% in 2024

(Reporting by Manya Saini in Bengaluru)

((Manya.Saini@thomsonreuters.com))

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10