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Chubb 1Q Profit Falls By Half On Investment Losses
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WARREN, N.J. (AP) — Insurer Chubb Corp. said Thursday that its first-quarter profit was cut in half by losses on alternative investments and falling net written premiums.
The company earned $341 million, or 95 cents per share, compared with a profit of $664 million, or $1.77, in the same period a year earlier. The just-concluded quarter included $266 million in before-tax losses on alternative investments and impairments.
The prior year's first quarter included $68 million in investment gains before taxes. ...
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