Chubb and Cincinnati Financial lead P&C slump

|About: Chubb Ltd (CB)|By:, SA News Editor

Chubb (CB -2.3%) and Cincinnati Financial (CINF -2.8%) are leading a weak P&C insurance sector today after reporting claims from the severe winter weather worse than most had anticipated.

Sandler O'Neill's Paul Newsome finds the poor underwriting performance at Chubb "interesting" considering the strong results posted by Travelers earlier this week.

The KBW Insurance Index is off 0.65% today, -3.7% YTD. Chubb is down 7.2% on the year, and Cincinnati Financial -7.7%.

Previously: Winter weather takes bite out of Chubb's Q1 profit

Previously: Winter weather hits Cincinnati Financial Q1 profits