Chubb GWP grows but profits drop in 2017

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Chubb has reported a 4% increase in gross written premiums to $36.4bn (£25.7bn) for 2017.

The US insurer also revealed a drop in profit to $3.9bn (2016: $4.1bn).

Net premiums for property and casualty (P&C) business were up at $27.1bn from $26bn the year before.

However the P&C combined operating ratio (COR) worsened to 94.7% (2016: 88.7%).

The provider did not supply a breakdown of figures for the UK.

For the 12 months overseas general insurance net written premiums grew from $8.1bn in

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