Chubb Affirms Full-Year Target

Insurance company Chubb (CB Quote) on Friday reaffirmed its full-year earnings guidance, a profit forecast that ranges around analysts' estimates.

The company expects to earn $4.60 to $5 a share for the year, compared to last year's earnings of $1.16 a share. Analysts, on average, expect the company to earn $4.87.

Chubb also said its preliminary estimate for after-tax catastrophe losses in the two months ended May 31 is $49 million, or 28 cents a share. In the three months ended June 30, 2002, catastrophe losses were $7 million, or 4 cents a share, after taxes. ...