Oct 29 (Reuters) - Insurance company Chubb

posted a rise in third-quarter profit on Tuesday, helped by

strong underwriting gains in its property and casualty (P&C)

segment and higher returns on its investments.

Global P&C net written premiums rose 7.6% in the quarter

ended Sept. 30, driven by commercial lines and consumer lines

premium growth of 8.1% and 9.4%, respectively.

The insurance sector has benefited from growing hopes of a

soft landing for the economy and a strong labor market, which

has revived spending on insurance policies.

The insurer's adjusted net investment income was $1.64

billion, up 15.9% from the previous year.

A market rally has also helped insurance firms that invest a

portion of their profits across asset classes rake up higher

returns.

Chubb's core operating income was $5.72 per share for the

quarter ended Sept. 30, versus expectations of $4.98, according

to LSEG data.

The earnings mirror results at peers, which have also seen a

boost in their results due to expectations of a soft landing for

the U.S. economy and strong underwriting gains across various

segments.

U.S.-listed shares of the Zurich-based insurer was up

about 1% at $290 in extended trading.