- The numbers aren't as good as the headlines suggest, says Credit Suisse's Ryan Tunis. Adjusting for a number of items - including lower cat losses, more favorable reserve development, one-time pension curtailment benefit - he says EPS was more like $2.31 vs. the $2.72 reported. Expectations had been for $2.42.
- He cuts his 2017 EPS estimate to $10.33 from $10.60, and the stock's price target to $145 from $148.
- CB -1.8% to $129.09
- Previously: Chubb beats by $0.30, misses on net premium written (Jan. 31)