The Chubb Corporation Bid Higher on Earnings Results

Shares of The Chubb Corporation CB are bid higher in the after-hours following the release of the company's Q2 earnings results. Currently, shares are bid $63.50, at $64.00; they ended the regular session higher by 1.16%, at $62.56. The Chubb Corporation said that Q2 Adjusted EPS came in at $1.27; excluding the impact of catastrophes in the second quarter of 2011, EPS was $1.42, down 11% year over year. The expense ratio for the second quarter was 31.3% in 2011, up from 30.9% in 2010. "We produced very good results this quarter, even though Chubb and the industry both experienced record second quarter U.S. catastrophe losses," said John D. Finnegan, Chairman, President and Chief Executive Officer. "Although catastrophes had an adverse impact on our second quarter financial results of $0.72 per share, we still generated operating income per share of $1.27 and net income per share of $1.42 for the quarter. Our combined ratio of 83.6% excluding catastrophes reflected the continued strong underlying performance of each of our business units and was largely consistent with our first quarter performance. The Chubb Corporation is a holding company for a family of property and casualty insurance companies known as the Chubb Group of Insurance Companies.