Chubb Q1 net income falls nearly 50%
Chubb, the US insurance giant, said that net income in the first quarter of 2009 was $341m, compared to $664m, in the first quarter of 2008, driven down by investment losses of nearly $270m.
Operating income, declined to $514 m from $620 m in the first quarter of 2008. Net written premiums for the first quarter decreased 7% to $2.7bn.Excluding the effect of currency fluctuation
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