Chubb Corp. 8-K

PositiveEarnings

Lower P&C catastrophe losses and record investment income drove core earnings growth.

Filed 2026-07-21 16:10 ET

Summary

Q2 2026 results. Net income attributable to Chubb declined 3.8% Y/Y, while core operating income rose 14.6% and core operating EPS rose 18.2%, supported by stronger P&C underwriting and investment income.

Key Figures

Metric Q2 2026 Q2 2025 Y/Y
Net premiums earned $13.9B $13.1B 5.8%
Net income attributable to Chubb $2.85B $2.97B -3.8%
Core operating income, net of tax (non-GAAP) $2.84B $2.48B 14.6%
Diluted EPS, net income attributable to Chubb $7.30 $7.35 -0.7%
Diluted EPS, core operating income (non-GAAP) $7.26 $6.14 18.2%
Operating cash flow $3.73B $3.55B 5.0%
Net premiums written $14.7B $14.2B 3.6%
P&C combined ratio 83.8% 85.6% -180 bp
  • P&C underwriting income rose 18.8% to $1.94B; catastrophe losses fell to $475M from $630M, and favorable prior-period development was $283M vs $249M. P&C net premiums written grew 3.0%, or 6.3% excluding large-account and excess and surplus property, reflecting underwriting discipline in soft property markets.
  • Adjusted net investment income (non-GAAP) reached a record $1.88B, up 11.4%; Life Insurance segment income increased 9.0% to $332M. Overseas General net premiums written rose 10.2% (4.8% in constant dollars).
  • Chubb returned $1.37B to shareholders: $979M of repurchases and $395M of dividends. It repurchased 2.99M shares vs 2.34M a year earlier; shares outstanding were 385.6M vs 398.7M. Book value per share rose 12.3% Y/Y to $195.45 and tangible book value per share rose 17.1% to $131.93.

Guidance

No guidance in this filing.

Investor Takeaways

  • The 7/22/2026 earnings call is the next checkpoint for management’s discussion of soft property and casualty pricing and whether P&C growth excluding large-account and excess and surplus property continues.

The summary is written by an AI model reading the filing.

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