NEW YORK (Bloomberg) — Chubb Corp., the insurer of businesses and high-end homes, said third-quarter earnings fell by more than half on costs from hurricanes and investment losses.

Net income was 70 cents to 74 cents per share, the Warren, New Jersey-based company said today in a statement, compared with $1.87 a year earlier. Operating income, which excludes declines in the value of some holdings, was 90 cents to 94 cents, missing by at least 31 cents the average estimate of 17 analysts surveyed by Bloomberg.

Chubb joins insurers including Travelers Corp. and MetLife Inc. in releasing preliminary results ahead of schedule as shareholders demand information about portfolio declines. Chubb said investment losses reduced quarterly earnings by about $115 million. The company said yesterday it suspended its securities- lending programme and that assets on loan will be returned by December.

Ike, the costliest US storm since Katrina in 2005, contributed to about $400 million in catastrophe losses for the insurer.