Summary
Chubb Limited (CB) reported its financial results for the nine months ended September 30, 2019. The company demonstrated growth in net premiums written across most segments, driven by positive rate increases and new business. While net income saw a decrease compared to the prior year's nine-month period, this was influenced by factors such as higher catastrophe losses in the previous year and increased integration expenses. The company's P&C combined ratio improved slightly to 89.9% for the nine months, indicating solid underwriting performance. Key financial highlights include continued share repurchases totaling $1.2 billion year-to-date, alongside a consistent dividend payment. The company's investment portfolio remains robust, primarily invested in investment-grade fixed income securities, with a focus on diversification and active risk management. Chubb's capital resources remain strong, with a manageable debt-to-total capitalization ratio, reflecting a stable financial position.
Financial Highlights
35 data points| Revenue | $9.04B |
| Net Income | $1.09B |
| EPS (Basic) | $2.40 |
| EPS (Diluted) | $2.38 |
| Shares Outstanding (Basic) | 454.98M |
| Shares Outstanding (Diluted) | 458.15M |
Key Highlights
- 1Net premiums written increased by 4.5% to $24.3 billion for the nine months ended September 30, 2019, compared to the same period in 2018, indicating broad-based growth across most segments.
- 2The P&C combined ratio improved slightly to 89.9% for the nine months ended September 30, 2019, down from 90.8% in the prior year period, demonstrating effective underwriting and expense management.
- 3Catastrophe losses for the nine months ended September 30, 2019, were $757 million, a decrease from $1,041 million in the prior year period, reflecting lower weather-related impacts.
- 4Favorable prior period development was $559 million for the nine months ended September 30, 2019, compared to $643 million in the prior year, contributing positively to the underwriting results.
- 5The company repurchased $1.2 billion of its common shares year-to-date, demonstrating a commitment to returning capital to shareholders.
- 6Net investment income increased by 4.5% to $2.57 billion for the nine months ended September 30, 2019, driven by higher average invested assets.
- 7Total assets grew to $175.1 billion as of September 30, 2019, with shareholders' equity increasing to $54.6 billion, reflecting a strong balance sheet.