April 23 (Reuters) - Insurance company Chubb

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

higher returns from its investments and stronger underwriting.

The insurance sector has benefited from the growing hopes of

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

has revived spending on insurance policies.

Chubb's net written premiums rose 14.1% to $12.22 billion in

the first quarter, from $10.71 billion a year ago.

A market rally has also helped insurance firms that invest a

portion of their profits across asset classes rake up higher

returns.

Chubb's pre-tax net investment income rose to $1.39 billion

from $1.11 billion in the year-ago period.

The company reported a current accident year combined ratio,

excluding catastrophe losses, of 83.7%, compared with 83.4% a

year earlier. A ratio below 100% means the insurer earned more

in premiums than it paid out in claims.

The insurer's core operating income rose to $2.22 billion,

or $5.41 per share, for the quarter ended March 31, from $1.84

billion, or $4.41 apiece, a year ago.