Chubb said on 20 October that its third-quarter net income was $2.84bn, up 1.5%, or $7.30 a share, an increase of 4.4% per share. Core operating income fell 2.2% in total to $2.98bn but reached a record $7.66 a share, up 0.8%.
Consolidated net premiums written grew 1.9% to $15.14bn. Property and casualty premiums rose 1.9% to $13.18bn and life premiums rose 1.4% to $1.96bn. The growth came from outside North American commercial lines: Overseas General premiums rose 6.7% (5.2% in constant dollars), North America personal lines grew 5.3% and agriculture 5.1%. North America commercial premiums fell 2.7% to $5.51bn. Chief executive Evan Greenberg linked that fall to lower exposure, including greater use of reinsurance and non-renewals for underwriting reasons, and said he expects the unit's growth to improve in future quarters.
Underwriting margins narrowed. Pre-tax net catastrophe losses were $705m, against $285m a year earlier, and the property and casualty combined ratio rose to 84.1% from 81.8%. Favourable prior-period reserve development of $511m, up from $361m, offset part of the catastrophe cost. North America commercial lines ran at an 86.3% combined ratio.
Investment income continued to support earnings. Pre-tax net investment income rose 8.6% to $1.79bn, and adjusted net investment income rose 6.3% to $1.89bn. The life segment earned $369m, up 11.4%. Chubb returned $1.57bn to shareholders in the quarter, including $1.18bn of share buybacks and $393m of dividends. Book value per share rose 5.1% from 30 September 2025 to $191.43. Greenberg called it "a really strong quarter".
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Chubb ↗Company · 20 Oct 2026
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