quarter earnings as a one-time investment gain offset a surge in catastrophe losses.

Profits rose 12.2 percent to $171.4 million, or $1.93 per share, in the quarter ended September 30 from $152.7 million, or $1.71 per share, for the same quarter a year earlier, said Reuter.

Profits in 1994 were depressed by major catastrophe losses in the first quarter, mainly from the earthquake in California and winter storms in the Eastern and Midwest.

Bermuda-based Chubb Atlantic Indemnity Ltd. (CAIL) president Mr. John Stites could not be reached yesterday afternoon but a spokesman said comment on the company's results are anticipated today.

CAIL is a wholly-owned subsidiary of Chubb.

The parent company's results include an 39 percent increase in realised investment gains after taxes to $13.2 million in 1995 from $9.5 million in 1994.

Net income increased 34.5 percent over the same period a year ago.

The company said its catastrophe losses in the third quarter jumped to $6.0 million or 0.6 of a percentage point of its combined loss and expense ratio, a measure of profitability. This compared with $3.6 million or 0.4 of a percentage point in the 1994 period.

Net income for the latest nine months climbed to $503.1 million, or $5.68 a share, from $372.6 million, or $4.19 per share.

Chubb Corp. is a holding company operating in property and casualty, life and health insurance as well as interests in real estate development industries.