CHUBB $CB Q3â26 EARNINGS HIGHLIGHTS
đš P&C Premiums Written: $13.18B (Est. $13.45B) đ´
đš Adj. EPS: $7.66 (Est. $6.81) đĸ; +0.8% YoY
đš Core Operating Income: $2.98B; -2.2% YoY
đš P&C Combined Ratio: 84.1%; vs 81.8% LY
P&C Net Premiums Written by Segment:
đš North America Commercial: $5.51B; -2.7% YoY
đš North America Personal: $1.91B; +5.3% YoY
đš North America Agricultural: $1.53B; +5.1% YoY
đš Overseas General: $3.94B; +6.7% YoY
đš Global Reinsurance: $287M; -5.6% YoY
Other Q3 Metrics:
đš P&C Underwriting Income: $2.06B; -8.8% YoY
đš CAY Combined Ratio ex-Cat: 82.6%; vs 82.5% LY
đš Catastrophe Losses: $705M; vs $285M LY
đš Adj. Net Investment Income: $1.89B; +6.3% YoY
đš Life Net Premiums Written: $1.96B; +1.4% YoY
đš Life Segment Income: $369M; +11.4% YoY
đš Core Operating ROE: 14.9%
đš Core Operating ROTE: 21.6%
đš Net Income: $2.84B; +1.5% YoY
đš GAAP EPS: $7.30; +4.4% YoY
Capital Return:
đš Total Capital Returned: $1.57B
đš Buybacks: $1.18B
đš Dividends: $393M
Key Updates:
đš Total pre-tax net catastrophe losses: $705M; vs $285M LY
đš Net income to core operating income, net of tax: adjusted net realized (gains) losses, net of tax $94M; integration expenses and severance, net of tax $8M; market risk benefits (gains) losses, net of tax $55M; amortization of deferred tax asset from Bermuda law ($60M); amortization of fair value adjustments, net of tax $39M
đš Favorable prior period development: $511M pre-tax, vs $361M LY
đš Book value per share: $191.43, +5.1% YoY; tangible book value per share $126.96, +5.7% YoY
Comments:
đ¸ âI fully expect North America commercial growth to improve in future quarters.â