Business
Chubb Reports First Quarter Per Share Net Income and Core Operating Income of $3.29 and $3.68, Respectively; Consolidated Net Premiums Written of $12.6 Billion, Up 5.7% in Constant Dollars, with P&C and Life Insurance Up 5.0% and 10.3%; P&C Combined Ratio of 95.7%, or 82.3% Excluding Catastrophe Losses and Prior Period Development
Chubb Limited (NYSE: CB) today reported net income for the quarter ended March 31, 2025 of $1.33 billion, or $3.29 per share, and core operating income of $1.49 billion, or $3.68 per share. Book value per share and tangible book value per share increased 2.7% and 3.9%, respectively, from December 31, 2024 and now stand at $164.01 and $104.27. Book value was favorably impacted by after-tax net realized and unrealized gains of $825 million in Chubb's investment portfolio and $302 million of foreig
About this update from Chubb Limited
[{"type":"list","items":[{"val":[{"type":"text","content":"Net income and core operating income were $1.33 billion and $1.49 billion, respectively, versus $2.14 billion and $2.16 billion last year. Unfavorable foreign currency movement impacted core operating income by $36 million, or $0.09 per share.","length":243,"tagName":"p"}]},{"val":[{"type":"text","content":"Total pre-tax net catastrophe losses were $1.64 billion, or 15.9 percentage points of the combined ratio, and include $1.47 billion from the California wildfires, compared with $435 million, or 4.4 percentage points of the combined ratio, last year. Total after-tax net catastrophe losses were $1.30 billion, or $3.21 per share.","length":328,"tagName":"p"}]},{"val":[{"type":"text","content":"Total pre-tax and after-tax favorable prior period development were $255 million and $204 million, compared with $207 million and $168 million, last year.","length":154,"tagName":"p"}]},{"val":[{"type":"text","content":"P&C underwriting income was $441 million with a combined ratio of 95.7%. P&C current accident year underwriting income excluding catastrophe losses was $1.83 billion, up 12.2% over prior year, with a combined ratio of 82.3%.","length":232,"tagName":"p"}]},{"val":[{"type":"text","content":"P&C net premiums written were $10.93 billion, up 3.2%, or 5.0% in constant dollars. North America was up 3.4% with growth impacted by two one-time items: reinstatement premiums related to the California wildfires in personal insurance, and unusually large structured transactions written in the prior year in commercial insurance. Excluding both, North America was up 6.4%, including growth of 10.1% in personal insurance and 5.3% in commercial insurance, with P&C lines up 6.4% and financial lines down 1.3%. Overseas General was up 1.8%, or 6.5% in constant dollars, including growth of 5.0% in consumer insurance and 7.3% in commercial insurance, with P&C lines up 9.3% and financial lines down 1.6%; Latin America, Asia, and Europe, were up 6.1%, 6.1%, and 5.5%, respectively.","length":792,"tagName":"p"}]},{"val":[{"type":"text","content":"Life Insurance net premiums written were $1.72 billion, up 5.3%, or 10.3% in constant dollars, and segment income was $291 million, up 8.6%, or 15.7% in constant dollars.","length":170,"tagName":"p"}]},{"val":[{"type":"text","content":"Pre-tax net investment ...