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CHUBB ° Chubb Limited Bärengasse 32 CH - 8001 Zurich Switzerland www.chubb.com @Chubb News Release Chubb Reports Strong Second Quarter Net Income Per Share of $ 5.06 and Record Core Operating Income Per Share of $ 3.62 ; Consolidated Net Premiums Written Up 14.3 % Globally , with Commercial P & C Lines Up 19.9 % ; Best Organic P & C Growth in Over 15 Years Net income was strong at $ 2.27 billion versus a net loss of $ ( 331 ) million prior year , and core operating income was a record $ 1.62 billion versus a core operating loss of $ ( 254 ) million prior year . P & C net premiums written were up 15.5 % globally for the quarter and 12.6 % for the first six months , powered by commercial lines and the best organic P & C growth since 2004. The quarter's result comprised growth of 20.7 % in commercial lines excluding Agriculture , 11.0 % in Agriculture and 5.6 % in P & C consumer lines . Foreign exchange had a positive impact on P & C net premiums written growth of 2.8 percentage points in the quarter . The P & C combined ratio was 85.5 % compared with 112.3 % prior year . P & C current accident year underwriting income excluding catastrophe losses was a record $ 1.20 billion , up 27.0 % , driven by a P & C current accident year combined ratio excluding catastrophe losses of 85.4 % compared with 87.4 % prior year . The 2.0 percentage point decrease was substantially driven by improvement in the loss ratio . Pre - tax and after - tax catastrophe losses , net of reinsurance and including reinstatement premiums , were $ 280 million and $ 226 million , respectively , compared with $ 1.81 billion and $ 1.51 billion , respectively , prior year . Pre - tax net investment income was $ 884 million , up 7.0 % from the prior year , and adjusted net investment income was $ 945 million , up 9.4 % from the prior year . Both were record results . Annualized return on equity ( ROE ) and core operating ROE were 15.2 % and 11.5 % , respectively . Annualized core operating return on tangible equity was 17.7 % . Book and tangible book value per share were up 4.2 % and 5.0 % , respectively , for the quarter , and were up 3.8 % and 4.3 % , respectively , from December 31 , 2020 . ChubbⓇ , Chubb logoⓇ and Chubb . Insured.SM are trademarks of Chubb . ZURICH - July 27 , 2021 - Chubb Limited ( NYSE : CB ) today reported net income for the quarter ended June 30 , 2021 of $ 2.27 billion , or $ 5.06 per share , and core operating income of $ 1.62 billion , or $ 3.62 per share . Book value was favorably impacted by total after - tax net realized and unrealized gains of $ 1.52 billion , including a $ 1.35 billion gain in the investment portfolio , principally due to lower interest rates and mark - to market gains on private equities , and favorable foreign exchange of $ 215 million . Book and tangible book value per share now stand at $ 136.90 and $ 91.48 , respectively . 1