Financial Performance - Chubb Limited reported net premiums written of $13,829 million for the quarter ended September 30, 2024, representing a 5.5% increase from $13,104 million in the same quarter of 2023[4]. - The company achieved a core operating income of $2,334 million, up 14.3% from $2,041 million year-over-year[4]. - Chubb's net income for the quarter was $2,324 million, a 13.8% increase from $2,043 million in the previous year[4]. - The company reported a diluted earnings per share of $5.70, which is a 15.2% increase from $4.95 in the same quarter of 2023[4]. - The effective tax rate for the quarter was 17.7%, slightly higher than the 16.8% reported in the same quarter last year[4]. - The company reported net realized gains of $198 million in Q3 2024, up from $104 million in Q2 2024[5]. - The company reported a net income of $2,324 million for Q3 2024, up from $2,043 million in Q3 2023, reflecting a year-over-year increase of 13.7%[39]. Underwriting Performance - The P&C combined ratio improved to 87.7%, down from 88.4% in the same quarter last year, indicating better underwriting performance[4]. - Chubb's P&C underwriting income was $1,457 million, reflecting an 11.7% increase from $1,305 million year-over-year[4]. - The combined ratio for Q3 2024 improved to 86.5%, compared to 84.2% in Q3 2023, indicating a slight deterioration in underwriting performance[11][12]. - The loss and loss expense ratio for Q3 2024 was 63.1%, an increase from 60.6% in Q2 2024[6]. - The CAY combined ratio excluding catastrophes for Q3 2024 was 80.8%, compared to 84.0% in Q3 2023, showing an improvement in operational efficiency[11][12]. Premiums and Revenue - Life Insurance net premiums written increased by 6.8% to $1,552 million, compared to $1,452 million in the prior year[4]. - Gross premiums written for Q3 2024 reached $16,761 million, an increase from $16,491 million in Q2 2024 and $14,425 million in Q1 2024[5]. - Total consolidated premiums reached $13.829 billion in Q3 2024, a 5.5% increase from $13.104 billion in Q3 2023[10]. - Total net premiums written for Q3 2024 reached $13,829 million, an increase from $13,104 million in Q3 2023, representing a growth of 5.5% year-over-year[11][12]. Investment Income - Adjusted net investment income rose to $1,640 million, reflecting a 15.9% increase compared to $1,415 million in the prior year[4]. - Adjusted net investment income for Q3 2024 was $1,640 million, up from $1,415 million in Q3 2023, reflecting a growth of 15.9% year-over-year[11][12]. - The investment portfolio's total market value reached $153,327 million as of September 30, 2024, compared to $146,304 million in June 2024, marking a growth of 4.4%[25]. Expenses - Policy acquisition costs in Q3 2024 were $2,324 million, an increase from $2,226 million in Q2 2024 and $2,207 million in Q1 2024[5]. - Administrative expenses for Q3 2024 remained stable at $1,094 million, consistent with Q2 2024[5]. - The company reported total administrative expenses for Q3 2024 were $104 million, up from $99 million in Q2 2024[22]. Assets and Liabilities - Total assets increased to $250.557 billion as of September 30, 2024, up from $238.551 billion in June 2024, representing a 5.3% increase[8]. - Total liabilities increased to $180.437 billion as of September 30, 2024, compared to $173.976 billion in June 2024, marking a 7.9% increase[8]. - The company reported a total financial debt of $16,131 million as of September 30, 2024, an increase from $14,731 million in June 30, 2024[34]. Market and Economic Conditions - The average market yield of fixed income investments decreased to 5.2% in September 2024 from 5.9% in June 2024[25]. - The company emphasizes the importance of non-GAAP measures for understanding overall results, despite their differing definitions across companies[37]. - Future outlook includes a focus on enhancing underwriting performance and managing market risks effectively[37].

Core Viewpoint - Analysts forecast a quarterly earnings per share (EPS) of $4.92 for Chubb, indicating a year-over-year decline of 0.6%, while revenues are expected to reach $15.24 billion, reflecting an increase of 8.2% compared to the previous year [1] Financial Estimates - The consensus estimate for 'Net Premiums written - North America Personal Lines' is projected at $1.67 billion, showing a year-over-year increase of 9.5% [2] - Analysts anticipate 'Net investment income - Overseas General' to be $286.89 million, representing a year-over-year growth of 15.7% [2] - The estimate for 'Global Reinsurance - Net investment income' is $56.31 million, indicating a year-over-year increase of 19.8% [2] Key Ratios - 'Net Premiums written - P&C' is expected to reach $12.61 billion, reflecting an 8.2% increase from the prior year [3] - The 'Loss and loss expense ratio' is projected at 64.7%, up from 60.1% in the previous year [3] - The estimated 'Combined ratio' is 89.6%, compared to 87.6% a year ago [3] - The 'North America Agricultural Insurance - Combined ratio' is expected to be 89.5%, down from 93.2% in the previous year [3] - The 'North America Agricultural Insurance - Loss and loss expense ratio' is forecasted at 84.0%, compared to 88.1% last year [3] - 'North America Commercial P&C Insurance - Combined ratio' is expected to be 86.6%, up from 84.2% in the same quarter last year [3][4] - The 'North America Commercial P&C Insurance - Loss and loss expense ratio' is projected at 66.3%, compared to 63.9% in the previous year [4] - The 'Overseas General Insurance - Combined ratio' is expected to be 88.1%, compared to 87% last year [4] - The 'Overseas General Insurance - Loss and loss expense ratio' is projected at 52.3%, slightly up from 52.1% in the previous year [4] Stock Performance - Chubb shares have increased by 1.6% over the past month, slightly outperforming the Zacks S&P 500 composite, which rose by 1.5% [4]

Core Viewpoint - Chubb Limited (CB) is expected to report third-quarter 2024 earnings on October 29, with a history of beating earnings estimates in the previous four quarters [1] Group 1: Earnings and Premiums - Premiums in the third quarter are anticipated to benefit from growth across product lines, strong premium retention, rate and exposure increases, and solid new business [2] - The acquisition of Cigna's Asia business and strong performance in distribution channels are likely to have positively impacted life insurance premiums [2] - The Zacks Consensus Estimate for net premiums earned is $13.5 billion, reflecting a 6.9% increase from the previous year, while the expectation for net premiums earned is $13.3 billion [2] Group 2: Investment Income and Revenue - Chubb expects adjusted net investment income to be between $1.57 billion and $1.63 billion, with an anticipated increase of 13.7% to $1.5 billion [3] - The Zacks Consensus Estimate for revenues is $15.2 billion, indicating an 8.2% rise from the year-ago figure [3] - The combined ratio is estimated at 90, indicating a deterioration of 200 basis points from the previous year, with underwriting income expected to be $1.3 billion and the combined ratio at 84.1 [3] Group 3: Expenses and Share Buybacks - Expenses are expected to rise due to higher losses, policy benefits, acquisition costs, administrative expenses, interest expense, and integration costs related to Cigna [3] - Share buybacks in the upcoming quarter are anticipated to positively impact the bottom line [3] Group 4: Earnings Per Share and Predictions - The Zacks Consensus Estimate for third-quarter earnings per share is $4.92, indicating a decrease of 0.6% from the previous year [4] - The model predicts an earnings beat for Chubb due to a positive Earnings ESP of +1.75%, with the Most Accurate Estimate at $5.01 [5] Group 5: Other Stocks to Consider - Arch Capital Group (ACGL) has an Earnings ESP of +7.91% and a Zacks Rank 3, with a consensus estimate of $1.98, reflecting a year-over-year decrease of 14.3% [6] - American Financial Group (AFG) has an Earnings ESP of +1.91% and a Zacks Rank 3, with a consensus estimate of $2.51, indicating a year-over-year increase of 2.5% [6] - Axis Capital Holding (AXS) has an Earnings ESP of +2.87% and a Zacks Rank 3, with a consensus estimate of $2.50, reflecting a year-over-year increase of 6.8% [7]

Company Overview - Chubb (CB) closed at $301.66, reflecting a -0.08% change from the previous session, underperforming the S&P 500's gain of 0.4% [1] - Over the past month, Chubb's shares increased by 3.89%, outperforming the Finance sector's decline of 3.26% and the S&P 500's gain of 3.76% [1] Upcoming Earnings - Chubb's earnings report is anticipated on October 29, 2024, with projected EPS of $4.92, indicating a 0.61% decrease year-over-year [1] - Revenue is expected to reach $15.24 billion, representing an 8.16% increase compared to the same quarter last year [1] Fiscal Year Estimates - For the entire fiscal year, earnings are estimated at $21.29 per share, reflecting a -5.55% change from the previous year, while revenue is projected at $56.52 billion, indicating a +10.71% change [2] - Recent revisions to analyst forecasts for Chubb may signal changes in near-term business trends, with positive revisions generally indicating a favorable business outlook [2] Zacks Rank and Valuation - Chubb currently holds a Zacks Rank of 3 (Hold), with a 0.43% rise in the Zacks Consensus EPS estimate over the past month [3] - The company has a Forward P/E ratio of 14.18, which is lower than the industry average of 15.34, suggesting it is trading at a discount [3] - Chubb's PEG ratio stands at 6.27, compared to the industry average PEG ratio of 1.83, indicating a significant difference in expected earnings growth [3] Industry Context - The Insurance - Property and Casualty industry, part of the Finance sector, holds a Zacks Industry Rank of 94, placing it in the top 38% of over 250 industries [4] - The Zacks Industry Rank measures the strength of industry groups based on the average Zacks Rank of individual stocks, with the top 50% rated industries outperforming the bottom half by a factor of 2 to 1 [4]

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Group 1: Stock Performance - Chubb's stock closed at $282.83, reflecting a +1.03% change from the previous session, outperforming the S&P 500's gain of 0.71% [1] - Over the past month, Chubb's stock has decreased by 3.8%, while the Finance sector has lost 4% and the S&P 500 has gained 6.41% [1] Group 2: Upcoming Earnings - Chubb is set to disclose its earnings on October 29, 2024, with an expected EPS of $4.96, representing a 0.2% increase from the prior-year quarter [2] - The consensus estimate anticipates revenue of $15.23 billion, indicating an 8.12% increase from the same quarter last year [2] Group 3: Annual Forecast - For the entire year, the Zacks Consensus Estimates forecast earnings of $21.32 per share and revenue of $56.51 billion, reflecting changes of -5.41% and +10.69% compared to the previous year [3] Group 4: Analyst Estimates - Recent modifications to analyst estimates for Chubb are important as they reflect evolving short-term business trends, with positive revisions indicating a favorable business outlook [4] Group 5: Zacks Rank and Performance - The Zacks Rank system, which assesses estimate changes, currently ranks Chubb at 3 (Hold), with the consensus EPS estimate having increased by 0.57% in the past month [6] - The Zacks Rank has a strong track record, with 1 ranked stocks yielding an average annual return of +25% since 1988 [6] Group 6: Valuation Metrics - Chubb's Forward P/E ratio is 13.13, which is a discount compared to the industry average of 13.36 [7] - The PEG ratio for Chubb is 5.81, significantly higher than the industry average PEG ratio of 1.62 [7] Group 7: Industry Overview - The Insurance - Property and Casualty industry, part of the Finance sector, has a Zacks Industry Rank of 24, placing it in the top 10% of over 250 industries [8] - The top 50% rated industries outperform the bottom half by a factor of 2 to 1 [8]

Group 1 - Hurricane Milton is projected to intensify into a Category 5 hurricane, impacting Florida's west coast, leading to significant declines in insurance stocks such as Chubb, Progressive, and Kinsale Capital [1][2][3] - The insurance sector's downturn is attributed to the anticipated damage from Hurricane Milton, which is expected to be more severe than the recent Hurricane Helene [2][4] - Heavy winds, rainfall, flooding, and rip currents from Milton could cause extensive property damage in Florida, a state already recovering from a recent hurricane [4][5] Group 2 - Chubb and Progressive are leading brands in property and car insurance, with Progressive having ceased new policy writings in Florida due to severe storm impacts [5][6] - Kinsale Capital, a newer specialty insurer, has significant exposure to high-risk lines, including commercial property and construction insurance, which could lead to substantial losses if Milton proves to be severe [6][7] - Investors are preparing for potential large catastrophe losses for insurers exposed to Florida property, including residential, commercial, and specialty/mobile homes [7][8] Group 3 - Despite the risks, insurance companies have been able to raise prices significantly in recent years, leading to one of the hardest markets in memory, which may allow them to remain profitable even during severe hurricane seasons [9][10] - Following catastrophic events, insurers often reduce exposure, leading to increased prices and potentially presenting buying opportunities for investors if there is a further sell-off in insurance stocks [10]

Chubb Limited (CB, Financial), a major player in the insurance sector, experienced a notable decrease in its stock price, dropping by 5.01% to $276.05 per share. The trading volume reached approximately 1.19 million shares with a turnover rate of 0.29% and a price fluctuation of 4.63%. Recent financial reports reveal that Chubb generated $13.875 billion in revenue, with a net profit of $2.230 billion and earnings per share of $5.51. The company's price-to-earnings ratio stands at 11.68. Among 26 rating agen ...