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THE CHUBB CORPORATION REPORTS RESULTS

 THE CHUBB CORPORATION REPORTS RESULTS
 WARREN, N.J., Oct. 26 /PRNewswire/ -- The Chubb Corporation


(NYSE: CB) today reported that net income for the nine months ended Sept. 30, 1992 was $419.6 million or $4.75 per share compared with $412.7 million or $4.74 per share for the like period of 1991. These amounts include realized investment gains after taxes of $46.2 million or $.52 per share in 1992 and $24.7 million or $.28 per share in 1991. Net income for the third quarter of 1992 was $146.1 million or $1.65 per share compared with $151.4 million or $1.72 per share for the third quarter of 1991. Net income for the quarter includes realized investment gains after taxes of $22.8 million or $.26 per share in 1992 and $12.3 million or $.14 per share in 1991.
 Property and casualty underwriting loss after taxes amounted to $1.4 million for the first nine months of 1992 compared with underwriting income of $22.6 million in 1991. Net premiums written were $2.4 billion in 1992, an increase of 4.0 percent compared with 1991. The combined loss and expense ratio was 99.8 percent for the first nine months of 1992 compared with 98.7 percent for 1991. The third quarter combined loss and expense ratio was 101.8 percent in 1992 compared with 98.8 percent in 1991. Catastrophe losses in the third quarter of 1992, resulting primarily from Hurricane Andrew, amounted to $65.6 million which represented 8.3 percentage points of the combined loss and expense ratio compared with $15.3 million or 2.0 percentage points in 1991. Catastrophe losses for the first nine months of 1992 amounted to $111.7 million or 4.8 percentage points of the combined loss and expense ratio compared with $38.3 million or 1.7 percentage points in 1991.
 Property and casualty investment income after taxes was $312.5 million for the first nine months of 1992 compared with $296.7 million in 1991, an increase of 5.3 percent.
 Life and health insurance operations resulted in income after taxes of $41.0 million for the first nine months of 1992 compared with $39.5 million in 1991.
 Real estate operations contributed income after taxes of $8.5 million in the first nine months of 1992 compared with $19.3 million in 1991.
 THE CHUBB CORPORATION
 (in millions)
 Third Quarter Nine Months
 Periods ended Sept. 30 1992 1991 1992 1991
 Net Income $146.1 $151.4 $ 419.6 $ 412.7
 Per Share 1.65 1.72 4.75 4.74
 Property and Casualty
 Net Premiums
 Written 829.2 786.4 2,443.3 2,348.8
 Underwriting Income (Loss)
 After Taxes (10.3) 10.0 (1.4) 22.6
 Investment Income
 After Taxes 106.9 100.6 312.5 296.7
 Combined Loss and
 Expense Ratio 101.8pct 98.8pct 99.8pct 98.7pct
 Life and Health Income
 After Taxes $ 14.0 $ 13.2 $ 41.0 $ 39.5
 Real Estate Income
 After Taxes 2.0 5.7 8.5 19.3
 Realized Investment Gains After
 Taxes 22.8 12.3 46.2 24.7
 THE CHUBB CORPORATION
 PROPERTY AND CASUALTY PRODUCT MIX
 (in millions)
 Net Premiums Combined Loss and
 Written Expense Ratios
 NINE MONTHS ENDED SEPT. 30 1992 1991 1992 1991
 Personal Insurance
 Automobile $ 143.3 $ 145.0 99.2pct 106.6pct
 Homeowners 318.7 327.8 107.4 101.8
 Other 143.9 147.4 90.1 94.3
 Total 605.9 620.2 101.4 101.2
 Standard Commercial Insurance
 Multiple Peril 367.4 362.3 109.5 109.3
 Casualty 366.7 348.5 94.1 87.0
 Workers' Compensation 120.4 132.5 119.7 128.5
 Total 854.5 843.3 104.3 102.7
 Specialty Commercial Insurance
 Fidelity and Surety 434.2 389.9 82.5 81.6
 Other 433.2 377.0 97.7 98.3
 Total 867.4 766.9 89.9 89.6
 Reinsurance Assumed 115.5 118.4 132.5 117.3
 Total $2,443.3 $2,348.8 99.8pct 98.7pct
 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 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 those adjustments, consisting of normal recurring items, which management considers necessary for a fair presentation.
 -0- 10/26/92
 /CONTACT: Ms. Gail E. Devlin, 908-580-3245, or Mr. Glenn A. Montgomery, 908-580-2365, both of the The Chubb Corporation/
 (CB) CO: Chubb Corporation ST: New York IN: INS SU: ERN


LR -- NY016 -- 4587 10/26/92 09:13 EST
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Date:Oct 26, 1992
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