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10-QPeriod: Q3 FY2010

Chubb Ltd Quarterly Report for Q3 Ended Sep 30, 2010

Filed November 8, 2010For Securities:CB

Summary

Chubb Ltd. (CB), operating as ACE Limited during this period, reported a solid financial performance for the nine months ended September 30, 2010. The company saw a significant increase in net income, driven by strong underwriting results across its various segments, particularly Insurance – North American and Insurance – Overseas General. Investment income also contributed positively, remaining stable year-over-year. The company demonstrated robust growth in net premiums written, reflecting expansion in its reinsurance and international retail operations, though some segments experienced modest declines due to market conditions and underwriting discipline. Financially, ACE Limited maintained a strong capital position, with total shareholders' equity increasing to $22.8 billion. The company actively managed its investment portfolio, which is primarily composed of investment-grade fixed income securities. While navigating a competitive market environment, ACE Limited announced several strategic acquisitions during the period, signaling a focus on future growth and market expansion. The company also continued its practice of returning capital to shareholders through dividends, paid via par value reduction.

Financial Highlights

32 data points
Beta

Revenue

$3.89B

Net Income

$675.00M

0.2% Net Margin

EPS (Diluted)

$1.97

Total Assets

$82.39B

Cash & Equivalents

$487.00M

Free Cash Flow

$1.08B

Financial Statements
Beta
Revenue$3.89B
Interest Expense$58.00M
Net Income$675.00M
EPS (Basic)$1.98
EPS (Diluted)$1.97
Shares Outstanding (Basic)340.22M
Shares Outstanding (Diluted)341.86M

Key Highlights

  • 1Net income for the nine months ended September 30, 2010, increased by 32% to $2.107 billion compared to the prior year.
  • 2Total revenues grew by 7% to $11.597 billion for the nine months ended September 30, 2010.
  • 3Net premiums earned remained stable year-over-year at $9.932 billion for the nine months ended September 30, 2010.
  • 4The combined ratio improved slightly to 90.2% for the nine months ended September 30, 2010, indicating sound underwriting performance.
  • 5Total shareholders' equity increased to $22.845 billion as of September 30, 2010.
  • 6The company announced several strategic acquisitions during the period, including Rain and Hail Insurance Service, Inc., Jerneh Insurance Berhad, and New York Life's Hong Kong and Korea life insurance operations, indicating a growth strategy.
  • 7Investments in fixed maturities and short-term investments increased significantly, reflecting a focus on core investment activities.

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