Chubb’s (CB) global reinsurance division has witnessed a substantial fall in its net premiums written in 2Q17 as compared to 2Q16. In 2Q17, net premiums written of the global reinsurance division stood at $190 million. In 2Q16, net premiums written stood at $230 million, a substantial fall of 17.7%.
The global reinsurance division has witnessed a decline in its administrative expenses in 2Q17 and stood at $12 million as compared to $14 million in 2Q16, a fall of 14.3%. In 2Q17, the global reinsurance division has incurred policy acquisition costs of $43 million as compared to $47 million in 2Q16, a decline of 8.5%.
However, the global reinsurance division managed to increase its income by 26% in 2Q17 as compared to 2Q16. In 2Q17, the global reinsurance division reported income amounting to $131 million, and in 2Q16, this division reported income of $104 million. This substantial rise in the division’s income was mainly a result of the 81.1% rise in the division’s underwriting income from $37 million in 2Q16 to $67 million in 2Q17.