Chubb's Net Income Drops to $3.86B in 2017

Chubb Ltd. has reported a fourth quarter net income of $1.53 billion, a 4.8% decrease from a net income of $1.61 billion in the prior-year quarter. For the full year, Chubb’s net income was $3.86 billion, down 6.6% from $4.14 billion in 2016. Property and casualty net premiums written were up 1.7% in the fourth quarter, to $6.5 billion, and increased 4.2% for the full year, to $27.1 billion. Property and casualty combined ratio for 2017 was 94.7%, compared with 88.7% in the previous year. Chubb experienced $2.7 billion in net catastrophe losses in 2017, in what the company d...