Chubb has posted record earnings and CEO Evan Greenberg has hailed the insurer’s success growing its global operations, including in the Asia-Pacific region.

Net income gained 12.9% to $US8.02 billion ($11.4 billion) in the nine months to September, and property and casualty underwriting income also set a record, rising 33.7% to $US5.79 billion ($8.23 billion).

“We are benefiting from our diversification,” Mr Greenberg, who is also chair, said. “Our diversification is highly supportive of growth and sustained margins which speak to our underwriting discipline, a hallmark of our company.”

In the third quarter, net income gained 1.5% to $US2.84 billion ($4.03 billion) and consolidated net premium written rose 1.9% to $US15.14 billion ($21.53 billion).

P&C net premium written improved 1.9% to $US13.18 billion ($18.74 billion), but underwriting income dropped 8.8% to $US2.06 billion ($2.93 billion).

The insurer says P&C current accident year underwriting income excluding catastrophe losses was $2.26 billion ($3.21 billion), up 3.3%, with a combined operating ratio of 82.6%.

“Overseas general” net premium written rose 6.7% to $US3.94 billion ($5.6 billion), with Asia up 7.5%, Latin America gaining 11.7% and Europe up 7%.

North America had a mixed performance, with personal lines and agriculture recording higher net premium written, but commercial down.

“I fully expect North America commercial growth to improve in future quarters,” Mr Greenberg said.