Summary
Chubb Limited (CB) reported strong financial results for the nine months ended September 30, 2021, demonstrating significant growth and improved profitability. Net premiums written increased by 13.0% year-over-year, reaching $28.7 billion, driven by robust performance across most lines of business, particularly in commercial P&C lines which saw a 18.1% increase. Net income saw a substantial rise of 473% to $6.4 billion, reflecting improved underwriting results, higher net investment income, and favorable prior period development. The company's P&C combined ratio improved to 90.4% for the nine months, down from 98.9% in the prior year, indicating enhanced underwriting efficiency. This improvement was supported by favorable prior period development of $781 million and controlled catastrophe losses, although these did increase year-over-year. The company also repurchased a significant amount of its shares, totaling $3.96 billion during the nine months, signaling confidence in its financial strength and commitment to returning value to shareholders. The company's strong capital position and operational performance position it well for continued success.
Financial Highlights
34 data points| Revenue | $10.85B |
| Net Income | $1.83B |
| EPS (Basic) | $4.21 |
| EPS (Diluted) | $4.18 |
| Shares Outstanding (Basic) | 435.32M |
| Shares Outstanding (Diluted) | 438.44M |
Key Highlights
- 1Chubb reported a 13.0% increase in Net Premiums Written for the nine months ended September 30, 2021, reaching $28.7 billion, driven by broad-based growth across segments, especially commercial P&C lines.
- 2Net Income surged by 473% to $6.4 billion for the nine months ended September 30, 2021, compared to $1.1 billion in the prior year, reflecting improved underwriting and investment income.
- 3The P&C Combined Ratio improved significantly to 90.4% for the nine months ended September 30, 2021, down from 98.9% in the prior year, indicating better underwriting profitability.
- 4The company returned substantial capital to shareholders, repurchasing $3.96 billion of its Common Shares and paying $1.05 billion in dividends during the nine months ended September 30, 2021.
- 5Total assets grew to $199.05 billion as of September 30, 2021, while shareholders' equity stood at $59.32 billion.
- 6Net investment income increased by 3.4% to $2.61 billion for the nine months ended September 30, 2021, driven by higher returns from private equity partnerships and public equities.
- 7Chubb announced a definitive agreement to acquire Cigna's life and accident and health insurance business in seven Asia-Pacific markets for $5.75 billion, expected to close in 2022.