Chubb P&C UW income flat in Q2 at $1.4bn despite 37% jump in pre-tax cats to $400mn

P&C underwriting income at Chubb was essentially flat at $1.4bn in the second quarter, despite a 37 percent jump in pre-tax cat losses to $400mn and reserve releases slowing modestly, as the Evan Greenberg-led insurance giant cut 40 bps from its core P&C loss ratio to 57.4 percent.