Hot stock to watch: Chubb Ltd (NYSE: CB)

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Chubb Ltd (NYSE: CB) stock rose over 1.2% on 30th October, 2019 (as of 10:03 am GMT-4; Source: Google finance) after the company posted decent results for the third quarter of FY 19.

Chubb’s net income fell 11% in the third quarter to $1.09 billion from the comparable quarter a year ago. The company has delivered the core operating income of $1,236 million, compared to $1,122 million, for the same quarter last year. The property and casualty (P&C) combined ratio were 90.2% and the Global P&C combined ratio, which excludes Agriculture, was 88.9%. Book and tangible book value per share rose 2% and 3.3%, respectively, from June 30, 2019 and now stand at $120.33 and $76.21, respectively. The rise in the book value in the third quarter contributed to an increase of $263 million after-tax.

Net realized and unrealized gains were  of $503 million in the company’s investment portfolio, on the back of fall in interest rates, which were partially offset by mark-to-market losses in the company’s variable annuity reinsurance portfolio of $112 million and unfavorable foreign currency movement of $116 million. The company has posted Annualized ROE and core operating ROE were 8.1% and 9.5%, respectively and annualized core operating return on tangible equity was of 15.6%.

CB in the third quarter of FY 19 has reported the adjusted earnings per share of $2.38, while the net premium growth of 6.3 percent to $8.62 billion in the third quarter of FY 19, beating the analysts’ estimates for revenue of $7.87 billion. The combined ratio of it was 81.1% compared with 86.7% prior year. The current accident year combined ratio excluding catastrophe losses was of 82.1%, compared with 82.8% prior year. For Life Insurance, the net premiums written were up 8.5%, or 9.1% in constant dollars to $612 million, mainly due to the growth in the Asian international life operations. This company posted 20.9% rise in this segment income to $95 million. International life insurance segment income rose 43.5% to $40 million.

Additionally, the share repurchases has totaled $478 million during the third quarter at an average purchase price of $155.16 per share, and $1.2 billion through September 30, 2019 at an average purchase price of $145.08 per share.

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