Chubb Earnings Call Transcripts
Fiscal Year 2026
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Q3 core operating earnings were $2.98B, with record adjusted investment income and strong underwriting. Management expects North America Commercial growth to improve and sees sustained medium-term earnings and tangible book value growth, while warning of competitive pricing and emerging liability risks.
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Core operating earnings rose 14.6% year-over-year to $2.8 billion, with strong P&C underwriting, investment, and life income. Despite softening market conditions and rising loss costs in casualty, diversified growth and disciplined underwriting support continued EPS and tangible book value growth.
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Q1 saw robust growth in premiums, earnings, and book value, with strong underwriting and investment results. Management remains confident in continued double-digit EPS and tangible book value growth, despite macro and market uncertainties.
Fiscal Year 2025
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Record earnings and premium growth were achieved in 2025, driven by strong underwriting, investment income, and diversified global operations. Digital transformation and disciplined capital allocation support a positive outlook for 2026, despite CAT and FX risks.
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Record quarterly results with core operating income up 29% and EPS up 31% year-over-year, driven by strong underwriting, investment income, and broad-based premium growth. Tangible book value per share rose 17%, and capital returns to shareholders increased, with continued focus on disciplined growth and digital transformation.
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Record quarterly results with core operating EPS up 14% and broad-based premium growth across all regions. Strong underwriting, investment income, and disciplined capital management supported tangible book value growth and robust returns, despite macroeconomic and litigation headwinds.
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Core operating income reached $1.5B, down 31% year-over-year, with strong premium growth in key segments and robust investment income. Despite $1.6B in catastrophe losses, underlying fundamentals remain solid, and double-digit EPS growth is expected, excluding FX and catastrophes.
Fiscal Year 2024
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Record underwriting and investment income drove double-digit operating earnings growth in 2024, with strong global premium expansion and robust returns on equity. Catastrophe losses from California wildfires are estimated at $1.5 billion pre-tax, and the outlook for 2025 remains optimistic despite ongoing market and regulatory challenges.
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Strong double-digit growth in P&C underwriting and investment income drove record earnings, with core operating EPS up over 15.5% and robust premium growth across segments. The company maintained a strong capital position, navigated elevated catastrophe losses, and remains confident in continued superior earnings growth.
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Core operating EPS rose 9.3% to $5.38, with strong premium growth and record investment income. Combined ratio was 86.8, and capital returns to shareholders reached $939M in Q2. Management remains confident in continued earnings growth and disciplined underwriting.
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Greece is seeing record investment and export growth due to reforms, digitalization, and incentives in key sectors. State asset management, agencies, and development banks foster a favorable environment. Private sector leaders note opportunities and challenges, but agree Greece’s investment climate is rapidly improving.