Chubb Gains After Beating Estimates, Mocking Rivals

Chubb Corp., the insurer of high-end homes and corporate boards, advanced the most in four months after second-quarter profit beat analysts’ estimates and the company raised its 2009 forecast... Shares gained $2.76, or 6.5 percent, to $45.37 at 4:02 p.m... Net income... rose 17 percent to $551 million, and profit excluding investment results topped an average estimate of analysts by 16 percent. [COO] John Degnan said Chubb is better positioned to win new business than rivals that needed U.S. aid to survive... “If consumers are unlikely to buy a car built by the government, why on earth would they want to buy an insurance policy underwritten and adjusted by folks who act more like bureaucrats than business people?” Degnan asked yesterday...

Bloomberg: Chubb Gains After Beating Estimates, Mocking Rivals