Premiums rise as profits fall at Chubb

The US insurer saw net written premiums for the quarter increase 4% to $3bn however its operating ratio deteriorated to 89.0% (Q4 2010 87%).

For the year ended 31 December 2011, net income fell to $1.7bn from $2.2bn in 2010 while net written premiums rose 5% to $11.8b (2010: $11.2bn).

The provider's operating ratio also fell back to 95.3% compared to 89.3% in 2010.

John D. Finnegan, chairman, president and chief executive officer at Chubb commented: "We were very pleased to record $1.7bn in net