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CHUBB ° ● Chubb Limited Bärengasse 32 CH - 8001 Zurich Switzerland News Release Chubb Reports Third Quarter Per Share Net Income and Core Operating Income of $ 4.18 and $ 2.64 , Up 59 % and 32 % , Respectively ; Consolidated Net Premiums Written Up 15.8 % , with Commercial P & C Lines Up 22 % www.chubb.com @Chubb Net income for the quarter was strong at $ 1.83 billion versus $ 1.19 billion prior year , and core operating income was $ 1.16 billion versus $ 907 million prior year . Record per share net income and core operating income through nine months were $ 14.33 and $ 8.78 , respectively . P & C net premiums written were up 16.9 % globally for the quarter , or 15.4 % in constant dollars , driven by 22.0 % growth in commercial lines . Total North America P & C net premiums written were up 17.1 % , including growth of 22.4 % in commercial lines and 0.6 % in consumer lines . Overseas General P & C net premiums written were up 15.9 % , or 11.2 % in constant dollars , including growth of 20.6 % in commercial lines and 9.2 % in consumer lines . Total company P & C net premiums written were up 14.2 % through nine months . P & C underwriting income for the quarter was $ 617 million , up 57.5 % , leading to a P & C combined ratio of 93.4 % , compared with 95.2 % prior year . P & C current accident year underwriting income excluding catastrophe losses was $ 1.44 billion , up 23.1 % , leading to a P & C current accident year combined ratio excluding catastrophe losses of 84.8 % compared with 85.7 % prior year ; both were record quarterly underwriting results . Excluding a one - time COVID - related frequency benefit to last year's third quarter results , the P & C and Global P & C current accident year combined ratios excluding catastrophe losses improved 1.9 and 2.0 percentage points , respectively . Catastrophe losses , net of reinsurance and including reinstatement premiums , for the quarter were $ 1.15 billion pre - tax , or $ 943 million after tax , compared with $ 925 million pre - tax , or $ 797 million after tax , prior year . The current quarter included pre - tax net catastrophe losses of $ 806 million from Hurricane Ida . ChubbⓇ , Chubb logoⓇ and Chubb . Insured.SM are trademarks of Chubb . Pre - tax net investment income for the quarter was $ 866 million , up 3.1 % , and adjusted net investment income was $ 940 million , up 4.5 % , reflecting strong returns in the company's private equity portfolio . Annualized return on equity ( ROE ) was 12.3 % and annualized core operating ROE was 8.2 % . For comparison purposes , including mark - to - market private equity gains , annualized core operating ROE was 13.2 % . Annualized core operating return on tangible equity was 12.6 % . 1