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Chubb tops Street 1Q forecasts

ZURICH (AP) _ Chubb Corp. (CB) on Tuesday reported first-quarter net income of $1.09 billion.

The Zurich-based company said it had net income of $2.31 per share. Earnings, adjusted for one-time gains and costs, came to $2.48 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.44 per share.

The insurer posted revenue of $7.59 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $7.25 billion.

Chubb shares have risen nearly 4 percent since the beginning of the year, while the Standard & Poor's 500 index has risen almost 7 percent. In the final minutes of trading on Tuesday, shares hit $137.12, an increase of 15 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CB at https://www.zacks.com/ap/CB


Keywords: Chubb, Earnings Report