Chubb UW income dips 6% to $1.2bn in Q1 as pre-tax cat losses jump to $458mn

Underwriting income at Chubb fell 5.5 percent in Q1 to $1.21bn - down from $1.28bn a year ago - as pre-tax catastrophe losses at the firm increased to $458mn and reserve releases slowed modestly, but the Evan Greenberg-led carrier improved its core loss ratio 40bps to 55.9 percent.