The Chubb Corporation reports an increased profit in 2009 Q4

The Chubb Corporation has reported a 2009 Q4 net income of $695 million, compared to $407 million in the same quarter of 2008.
Net income for 2009 was $2.2 billion, compared to $1.8 billion in 2008.
Net written premiums for the fourth quarter were $2.8 billion, a decline of 4%. Excluding the effect of currency fluctuation, premiums were down 5%.
Total net written premiums in 2009 decreased 6% to $11.1 billion, down from $11.8 billion in 2008. Excluding the effect of currency fluctuation, premiums were down 4%.
Premiums in the United States were down 8%; outside the United States, premiums were up 9% in 2009 Q4
The combined loss and expense ratio was 84.7% for 2009 Q4 and 84.3% in 2008 Q4.
The combined ratio in 2009 was 86%, compared to 88.7% in 2008. The impact of catastrophes accounted for 0.8 percentage point of the combined ratio in 2009 and 5.1 point in 2008. Excluding the impact of catastrophes, the combined ratio was 85.2% in 2009 and 83.6% in 2008.
The expense ratio for the fourth quarter was 30.1% in 2009 and 30.4% in 2008.
For the year, the expense ratio was 30.6% in 2009, and 30.2% in 2008.