Chubb reports Q4 core EPS $8.30, consensus $5.12

Evan Greenberg, Chairman and CEO of Chubb Limited, commented: “We had a record fourth quarter which contributed to a blowout year – the best in our company’s history. The quarter’s results included double-digit P&C premium growth globally, record P&C underwriting income with a world-class 85.5% combined ratio, record investment income, and strong life operating income, all leading to exceptional operating earnings on both a per-share and dollar basis. Our results, both earnings and book value related, were positively impacted in a significant way by a one-time deferred tax benefit related to Bermuda’s new income tax law. Core operating income was $2.3 billion excluding the tax benefit, up 36%, or $5.54 per share, up 39%. The one-time tax benefit then added $1.1 billion or $2.76 per share.”