The Northbrook, Ill.-based insurance company reported a profit of $851 million, or $2.44 a share, compared with $717 million, or $1.91 a share, a year ago.
The company reported adjusted earnings of $2.18 a share. Analysts polled by FactSet were expecting earnings of $1.40 a share, or $1.54 a share on an adjusted basis.
The company said its results were due to higher earned premium and net investment income, partially offset by increased catastrophe losses.
Catastrophe losses totaled $1.07 billion for the quarter, up from $906 million a year earlier.
Revenue rose 10.3% to $11.14 billion from $10.10 billion a year earlier. Property and casualty insurance premiums written rose 6% to $9.39 billion.