Pro-forma Chubb UW profits climb 23%

Pro-forma Q1 results for the first quarter of the combined
Ace-Chubb operations showed a 23.2 percent increase in underwriting
income to $720mn and a combined ratio that improved by 1.2 points
to 88.9 percent.
Comparing financials as if the two companies were one entity for
both quarters, net written premiums (NWP) dropped 5.5 percent to
$6.33bn, representing a 1.4 percent fall stripping out currency
movements.
Looking at the results on an as-reported basis, however, the new
Chubb Ltd entity sai