Large asbestos claims have led to Chubb recording a large net loss.

The company said it made a third-quarter net loss of £155m, or $1.42 a share. That compared with a loss of £153m, a year earlier, caused by heavy World Trade Centre claims.

Chubb initially delayed its earnings report to allow the completion of a review of asbestos claims. Massive asbestos settlements from U.S. firms have wreaked havoc among many other insurers.

Excluding the asbestos charge, Chubb reported a quarterly operating profit of 73 pence per share, compared with a 74 pence a share a year ago. Several analyts had expected Chubb to earn 71 pence per share, on average.

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