Chubb Limited (CB) reported third-quarter 2024 core operating income of $5.72 per share, which beat the Zacks Consensus Estimate by 16%. The bottom line increased 15.6% year over year. Chubb's results reflect strong performance in North America P&C, Overseas General and Life Insurance divisions, solid underwriting income and improved investment income, partially offset by a higher level of catastrophe. Quarter in Detail Net premiums written improved 5.5% year over year to $13.8 billion in the quarter. Our e ...

Chubb (CB) reported $15.01 billion in revenue for the quarter ended September 2024, representing a year-overyear increase of 6.6%. EPS of $5.72 for the same period compares to $4.95 a year ago. The reported revenue represents a surprise of -1.56% over the Zacks Consensus Estimate of $15.25 billion. With the consensus EPS estimate being $4.93, the EPS surprise was +16.02%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine th ...

Chubb (CB) reported $15.01 billion in revenue for the quarter ended September 2024, representing a year-overyear increase of 6.6%. EPS of $5.72 for the same period compares to $4.95 a year ago. The reported revenue represents a surprise of -1.56% over the Zacks Consensus Estimate of $15.25 billion. With the consensus EPS estimate being $4.93, the EPS surprise was +16.02%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine th ...

Chubb (CB) came out with quarterly earnings of $5.72 per share, beating the Zacks Consensus Estimate of $4.93 per share. This compares to earnings of $4.95 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 16.02%. A quarter ago, it was expected that this insurer would post earnings of $5.04 per share when it actually produced earnings of $5.38, delivering a surprise of 6.75%.Over the last four quarters, the company has surpassed ...

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]

Chubb (CB) closed the latest trading day at $301.66, indicating a -0.08% change from the previous session's end. This change lagged the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.09%, and the tech-heavy Nasdaq gained 0.63%. Shares of the insurer witnessed a gain of 3.89% over the previous month, beating the performance of the Finance sector with its loss of 3.26% and the S&P 500's gain of 3.76%. The upcoming earnings release of Chubb will be of great interest to investors. The company's ...

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