Chubb Ltd (CB) Earnings History
Chubb Ltd - Q4 2025 Earnings
EXECUTIVE SUMMARY
Chubb reported a strong fourth quarter and a record full year, driven by broad-based growth across its P&C and Life insurance segments, coupled with record investment income. The company demonstrated robust underwriting performance with a record low P&C combined ratio, reflecting effective risk management and favorable prior period development.
POSITIVE HIGHLIGHTS
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Full-year record net income of $10.31 billion, up 11.2%, and record core operating income of $9.95 billion, up 8.9%.
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Fourth quarter net income of $3.21 billion, up 24.7%, and core operating income of $2.98 billion, up 21.7%.
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Record P&C combined ratio of 81.2% for the quarter and 85.7% for the full year.
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Life Insurance net premiums written increased 16.9% for the quarter and 15.1% for the full year.
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Book value per share and tangible book value per share increased 18.0% and 25.7%, respectively, for the full year.
positive
CONCERNS & RISKS
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Total pre-tax catastrophe losses were $2.92 billion for the full year, compared with $2.39 billion last year.
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North America Personal P&C Insurance combined ratio increased 7.9 percentage points for the full year, including a 15.2 percentage point increase due to higher catastrophe losses.
attention
FINANCIAL METRICS
MARGIN ANALYSIS
Margin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
REVENUE BY SEGMENT — Q4 2025 2025
VISUAL OVERVIEW
DETAILED BREAKDOWN
| Segment | Current | Prior Yr | YoY | % Total | CC |
|---|---|---|---|---|---|
Consolidated | N/A | — | — | — | +8.3% |
P&C | N/A | — | — | — | +6.9% |
Life Insurance | N/A | — | — | — | +18.3% |
Total North America P&C Insurance | N/A | — | — | — | — |
Overseas General Insurance | N/A | — | — | — | +8.1% |
Global Reinsurance | N/A | — | — | — | -4.2% |
| Total Revenue | $0.00M | — | — | 100.0% | — |
Segment performance shows business unit health and growth drivers. Constant currency (CC) removes FX impact for like-for-like comparison.
SPECIAL ITEMS & ADJUSTMENTS
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
MANAGEMENT COMMENTARY
We had a great quarter and a great year, with very strong contributions from all areas of the company. Our consistent and enduring performance speaks to the broadly diversified global nature of our company.
Our full-year results in virtually every category were the best in our company’s history.
While commercial insurance market conditions continue to grow incrementally more competitive, we see many opportunities for growth given our broad diversification by geography, product, commercial and consumer customer segments and distribution channel.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
OPERATIONAL METRICS
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.