Chubb Corp. (CB) reported net income of $695 million or $2.03 per share in the fourth quarter, compared to $407 million or $1.13 per share in the prior year quarter.
Operating income, which the company defines as net income excluding after-tax realized investment gains and losses, was $569 million or $1.66 per share, compared to $569 million or $1.58 per share in the previous year quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $1.46 per share for the quarter. Analysts' estimates typically exclude special items.
Net written premiums for the fourth quarter declined 4% to $2.8 billion from $2.9 billion in the year-ago quarter. Excluding the effect of currency fluctuation, premiums were down 5%.
For 2010, the company expects operating income of $5.15 to $5.55 per share, while analysts estimate earnings of $5.40 per share.
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