Chubb Ltd ( (CB) ) has released its Q1 earnings. Here is a breakdown of the information Chubb Ltd presented to its investors.
Chubb Limited is a global insurance company that offers a wide range of insurance products, including property and casualty, personal accident, supplemental health, reinsurance, and life insurance, operating in 54 countries and territories. In its latest earnings report, Chubb Limited announced a net income of $1.33 billion and core operating income of $1.49 billion for the first quarter of 2025. The company reported consolidated net premiums written of $12.6 billion, marking a 5.7% increase in constant dollars, with property and casualty (P&C) and life insurance premiums rising by 5.0% and 10.3%, respectively. The P&C combined ratio stood at 95.7%, or 82.3% when excluding catastrophe losses and prior period development.
The earnings report highlighted several key financial metrics, including a significant impact from catastrophe losses, particularly from the California wildfires, which resulted in pre-tax net catastrophe losses of $1.64 billion. Despite these challenges, Chubb’s P&C underwriting income was $441 million, and the company achieved a 12.2% increase in current accident year underwriting income, excluding catastrophe losses. Additionally, Chubb’s net investment income rose by 12.2%, and the life insurance segment saw a 15.7% increase in constant dollars.
Chubb’s North America operations faced some headwinds due to one-time items, such as reinstatement premiums related to the wildfires and large structured transactions from the previous year. However, when adjusted for these factors, North America showed a 6.4% growth, with personal insurance up by 10.1% and commercial insurance by 5.3%. The Overseas General division also performed well, with a 6.5% increase in constant dollars, driven by growth in both consumer and commercial insurance segments.
Looking ahead, Chubb’s management remains optimistic about the company’s growth prospects, particularly in its global P&C and life insurance businesses. Despite external challenges such as economic uncertainty and potential recession risks, the company expects to continue growing its operating income and earnings per share at a double-digit rate, emphasizing its strong underlying performance and strategic positioning in the insurance market.