10-QPeriod: Q1 FY2026

Chubb Ltd Quarterly Report for Q1 Ended Mar 31, 2026

Filed April 28, 2026For Securities:CB

Summary

Chubb Ltd. reported a strong first quarter for 2026, demonstrating significant growth and improved profitability. Net income attributable to Chubb surged by 74.3% to $2.3 billion compared to the prior year, largely driven by a substantial decrease in catastrophe losses. Net premiums written across the company increased by 10.7% to $14.0 billion, with notable strength in the P&C segments (up 7.2%) and a remarkable surge in the Life Insurance segment (up 33.1%). The company's P&C combined ratio improved significantly to 84.0% from 95.7% year-over-year, primarily due to lower catastrophe losses. Investment income also saw a healthy increase of 9.5% to $1.7 billion, supported by higher average invested assets. The company's financial condition remains robust, with total assets growing to $275.5 billion and total Chubb shareholders' equity at $73.8 billion. Management highlighted successful premium growth in both commercial and personal lines, supported by positive rate and exposure increases. The company also continues its share repurchase program, demonstrating a commitment to returning capital to shareholders.

Financial Highlights

38 data points
Beta

Revenue

$14.77B

Net Income

$2.32B

15.7% Net Margin

EPS (Diluted)

$5.88

Total Assets

$275.46B

Cash & Equivalents

$2.63B

Free Cash Flow

$3.95B

Financial Statements
Beta
Revenue$14.77B
Interest Expense$198.00M
Net Income$2.32B
EPS (Basic)$5.94
EPS (Diluted)$5.88
Shares Outstanding (Basic)390.49M
Shares Outstanding (Diluted)394.60M

Key Highlights

  • 1Net income attributable to Chubb increased by 74.3% to $2.3 billion in Q1 2026.
  • 2Consolidated net premiums written grew by 10.7% to $14.0 billion.
  • 3The P&C combined ratio improved significantly to 84.0% from 95.7% in the prior year, aided by lower catastrophe losses.
  • 4Net investment income rose 9.5% to $1.7 billion, driven by higher average invested assets.
  • 5North America Personal P&C Insurance segment income saw a significant increase of 150.3% due to a large decrease in catastrophe losses from the prior year.
  • 6Overseas General Insurance segment income increased by 13.0% and continues to benefit from acquisitions in Thailand and Vietnam.
  • 7The company repurchased $1.1 billion of common shares during the quarter, reflecting ongoing capital return initiatives.

Frequently Asked Questions

The primary driver for the significant increase in net income was a substantial reduction in catastrophe losses. Total pre-tax catastrophe losses were $500 million in Q1 2026, down from $1.64 billion in the prior year period, which included substantial losses from California wildfires.

Premium growth was strong across most segments. P&C net premiums written increased by 7.2%, with consumer insurance up 14.2% and commercial insurance up 4.6%. The Life Insurance segment experienced exceptional growth of 33.1% in net premiums written. Overseas General Insurance also showed robust growth of 14.4%.

Chubb maintains a strong capital position. As of March 31, 2026, total assets stood at $275.5 billion, and total Chubb shareholders' equity was $73.8 billion. The company's financial debt to total adjusted capitalization ratio was 18.3%, indicating a well-managed leverage profile.

The company's investment portfolio remains heavily weighted towards investment-grade fixed income securities, with an average credit quality of A/A. While the fair value of total investments increased, primarily due to the investing of operating cash flow, there were also unrealized losses on fixed maturities mainly due to interest rate increases. The company maintains a diversified portfolio and actively manages credit risk through established committees and strict guidelines.