Catastrophes Take Toll in Chubb's 3Q, but Underlying Results Strong
As expected, the flurry of natural catastrophes in the third quarter took a serious bite out of Chubb’s results. Catastrophe losses were $1.9 billion, or 24% of earned premiums. Outside of catastrophes, though, underwriting results remain strong. We estimate annualized tangible return on equity of 11% for the first nine months of the year, and we believe Chubb’s ability to generate an excess tangible return despite the heavy catastrophe load this year supports our narrow moat rating. We will mai...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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