Chubb(US:CB) ZACKS·2025-10-22 15:40Core Insights - Chubb Limited reported a third-quarter 2025 core operating income of $7.49 per share, exceeding the Zacks Consensus Estimate by 26% and reflecting a year-over-year increase of 30.9 [1][9] - The strong quarterly performance was driven by solid underwriting income, improved investment income, and a lower level of catastrophe losses [1][9] Financial Performance - Net premiums written rose 7.5% year over year to $14.8 billion, surpassing both the company's estimate of $14.4 billion and the Zacks Consensus Estimate of $14.5 billion [2] - Pre-tax net investment income increased by 9.3% year over year to $1.65 billion, although it fell short of the estimates of $1.8 billion [2] - Total revenues reached $16.1 billion, beating the consensus estimate by 1.6% and improving 7.4% year over year [2] Underwriting and Combined Ratio - Property and casualty (P&C) underwriting income was $2.2 billion, a significant increase of 55% year over year, exceeding the Zacks Consensus Estimate of $1.4 billion [3] - The P&C combined ratio improved by 590 basis points year over year to 81.8%, better than the consensus estimate of 88 [4][9] Segment Performance - North America Commercial P&C Insurance saw net premiums written increase by 2.9% year over year to $5.6 billion, with a combined ratio improvement of 500 basis points to 81.5 [5] - North America Personal P&C Insurance reported an 8.1% increase in net premiums written to $1.8 billion, with a combined ratio improvement of 1,620 basis points to 65.1 [5] - Overseas General Insurance net premiums written jumped 9.7% year over year to $3.6 billion, with a combined ratio improvement of 270 basis points to 83.3 [7] Life Insurance Segment - The Life Insurance segment experienced a 24.6% year-over-year increase in net premiums written to $1.93 billion, with International Life growing by 26.5% [8] Financial Health - As of September 30, 2025, the cash balance was $2.4 billion, a decrease of 3.7% from the end of 2024, while total shareholders' equity grew by 13.7% to $77.8 billion [11] - The book value per share increased by 14% from December 31, 2024, to $182.22 [11] - Core operating return on tangible equity expanded by 280 basis points year over year to 24.5% [12] Capital Deployment - In the quarter, Chubb Limited repurchased shares worth $1.23 billion and paid $385 million in dividends [13]