How Chubb’s North American Commercial Property Segment Performed
By Raymond AndersonUpdated
Net premiums written
Chubb’s (CB) North America Commercial Property and Casualty Insurance division witnessed a marginal fall in its net premiums written in 2Q17 as compared to 2Q16. In 2Q17, net premiums written in the company’s North America Commercial P&C Insurance division stood at $3.2 billion, and in 2Q16, it stood at $3.2 billion, thus reflecting a marginal fall of 1.3%. This marginal fall was a result of underwriting actions in relation to the merger activity.
In 2Q17, losses and loss expenses of Chubb Limited stood at $1.93 billion as compared to $1.97 billion in 2Q16, a marginal decline of 1.8%. In 2Q17, the company witnessed a substantial decline of 14.9% in its policy acquisition costs as compared to 2Q16. In 2Q17, the policy acquisition costs stood at $464 million. In 2Q16, these costs stood at $545 million.
In terms of administrative expenses, Chubb Limited witnessed a substantial fall of 19.4% in 2Q17 as compared to 2Q16. In 2Q17, administrative expenses stood at $241 million. In 2Q16, these expenses stood at $299 million.
