Chubb's Greenberg Predicts Firming Prices After $70M Loss in Q3

Catastrophe losses put a small dent in Chubb’s profit for the first nine months of the year, which dropped 7.8% compared to the prior-year period, to $2.33 billion. The company reported a net loss of $70 million in the third quarter, compared with a net income of $1.36 billion in the same period last year. Property and casualty net premiums written increased 4.6% in the third quarter, to $7.4 billion. The property and casualty combined ratio for the third quarter was 110.8%, which the company said was driven by significant catastrophe losses. A series of major natural catastrophes, in...