Summary
Chubb Ltd. (trading as ACE Limited during this period) reported a strong financial performance for the fiscal year ending December 31, 2009. The company demonstrated resilience amidst challenging economic conditions, maintaining stable net premiums earned at $13.24 billion. Net income saw a significant increase of 113% to $2.55 billion, driven by improved underwriting results and a substantial decrease in net realized losses compared to the previous year. The company's diversification across geographies and product lines, including strong performance in its North American and Overseas General insurance segments, contributed to this positive outcome. Management's focus on underwriting discipline and capital management, coupled with prudent investment strategies, positions Chubb well for continued stability and growth.
Financial Highlights
36 data points| Revenue | $15.07B |
| Interest Expense | $225.00M |
| Net Income | $2.55B |
| EPS (Basic) | $7.57 |
| EPS (Diluted) | $7.55 |
| Shares Outstanding (Basic) | 336.73M |
| Shares Outstanding (Diluted) | 337.54M |
Key Highlights
- 1Net income increased significantly to $2.55 billion in 2009, up from $1.20 billion in 2008, reflecting strong operational performance and improved investment results.
- 2Net premiums earned remained stable at $13.24 billion, demonstrating resilience in premium volume despite economic headwinds.
- 3The loss and loss expense ratio improved to 58.8% from 60.6% in the prior year, indicating better claims management and/or favorable prior period development.
- 4The company reported a combined ratio of 88.3%, which is under 100%, signifying an underwriting profit.
- 5Shareholders' equity grew substantially to $19.67 billion from $14.45 billion, driven by net income and positive changes in unrealized appreciation on investments.
- 6The Combined Insurance acquisition, completed in April 2008, contributed positively to the results, with its operations included for the full year in 2009.
- 7Despite market volatility, the company maintained a strong investment portfolio, with net investment income of $2.03 billion and continued diversification strategies.