Chubb cheers investors on rates but disappoints on EPS outlook
The Chubb Corporation matched fellow US giant Travelers in reporting fourth quarter rate rises of 6 percent in its commercial insurance division as price increases accelerated through the year.
But while the insurer pipped Wall Street consensus forecasts for operating earnings per share (EPS) at $1.63 compared to $1.60, it disappointed analysts by publishing guidance for 2012 below expectations.
Operating income of $460mn in Q4 was down on the $519mn reported in the prior-year period, with net profit of $452mn...
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