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CHUBB REPORTS RESULTS

 CHUBB REPORTS RESULTS
 WARREN, N.J., April 27 /PRNewswire/ -- Chubb Corporation (NYSE: CB)


today reported the following:
 Net income for the quarter ended March 31, 1992 was $143.1 million or $1.62 per share compared with $128.3 million or $1.50 per share for the first quarter of 1991. These amounts include realized investment gains after taxes of $15.4 million or $.17 per share in the first quarter of 1992 and $4.2 million or $.05 per share in 1991.
 Property and casualty underwriting income after taxes amounted to $8.7 million for the first quarter of 1992 compared with $7.0 million in 1991. Net premiums written were $752 million in 1992, an increase of 2.0 percent compared with 1991. The combined loss and expense ratio was 98.1 percent in 1992 compared with 98.8 percent for 1991. Catastrophe losses in 1992 amounted to $3.7 million or 0.5 of a percentage point of the combined loss and expense ratio compared with $8.2 million or 1.1 percentage points in 1991.
 Property and casualty investment income after taxes was $101.6 million in the first quarter of 1992 compared with $98.0 million in 1991, an increase of 3.7 percent.
 Life and health insurance operations resulted in income after taxes of $12.2 million in the first quarter of 1992 compared with $12.0 million in 1991.
 Real estate operations contributed income after taxes of $3.5 million in the first quarter of 1992 compared with $7.5 million in 1991.
 THE CHUBB CORPORATION
 Three months ended March 31, 1992 1991
 (in millions)
 Net Income $143.1 $128.3
 Per Share 1.62 1.50
 Property and Casualty
 Net Premiums Written 752.3 737.7
 Underwriting Income After Taxes 8.7 7.0
 Investment Income After Taxes 101.6 98.0
 Combined Loss and Expense Ratio 98.1 percent 98.8 percent
 Life and Health Income After Taxes 12.2 12.0
 Real Estate Income After Taxes 3.5 7.5
 Realized Investment Gains After Taxes 15.4 4.2
 PROPERTY AND CASUALTY PRODUCT MIX
 Net Premiums Combined Loss
 Written and Expense
 Ratios
 (in percents)
 Three months ended March 31 1992 1991 1992 1991
 (in millions)
 Personal Insurance
 Automobile $ 44.0 $ 49.7 100.2 105.6
 Homeowners 87.9 92.9 97.5 103.3
 Other 41.1 44.5 95.0 92.9
 Total 173.0 187.1 97.4 101.2
 Standard Commercial Insurance
 Multiple Peril 109.7 112.9 100.4 105.5
 Casualty 116.8 111.7 100.3 90.6
 Workers' Compensation 42.8 42.4 117.2 134.8
 Total 269.3 267.0 102.2 103.2
 Specialty Commercial Insurance
 Fidelity and Surety 131.6 111.4 85.7 85.7
 Other 139.9 127.9 92.0 98.1
 Total 271.5 239.3 88.8 91.7
 Reinsurance Assumed 38.5 44.3 143.5 104.8
 Total $752.3 $737.7 98.1 98.8
 Effective Jan. 1, 1992, the mix of business reinsured with the Sun Alliance Group plc was changed. Chubb increased its retention of certain specialty classes of business and decreased its retention of all other classes of business in which the Sun Group participates. The impact on net premiums written for the individual classes of business was more pronounced in the first quarter due to the effect of the changes in retention on the related unearned premium reserves on Jan. 1, 1992.
 The product mix also reflects certain reclassifications to present results in a manner consistent with the way the property and casualty business is managed. Prior period amounts have been restated to conform with the new presentation. Total amounts are not affected.
 The interim amounts are unaudited but include such adjustments as management considers necessary for a fair presentation.
 -0- 4/27/92
 /CONTACT: Gail E. Devlin, 908-580-3245, or Glenn A. Montgomery, 908-580-2365, both of Chubb/
 (CB) CO: Chubb Corporation ST: New Jersey IN: INS SU: ERN


SH -- NY024 -- 2991 04/27/92 09:35 EDT
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Date:Apr 27, 1992
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