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Mar 31, 2023
Chubb Q1 2023 Earnings Report
Chubb's Q1 2023 performance was marked by record core operating income and double-digit premium revenue growth.
Key Takeaways
Chubb Limited reported a strong first quarter with net income of $1.89 billion and a record core operating income of $1.84 billion. The company experienced double-digit growth in core operating earnings and premium revenue, driven by strong performances in P&C and Life Insurance segments. The combined ratio was 86.3%, and adjusted net investment income reached a record $1.2 billion.
Record core operating income of $1.84 billion, up 11.8% year-over-year.
Net premiums written increased by 16.6%, or 18.3% in constant dollars.
P&C combined ratio was 86.3%, with an underlying current accident year combined ratio of 83.4% excluding catastrophe losses.
Life Insurance net premiums written increased by 124.4%, driven by growth in Asia and the acquisition of the Cigna Asian business.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Chubb is confident in its ability to continue growing revenue and operating earnings, which in turn drive EPS, through the three engines of P&C underwriting income, investment income, and life income.
Positive Outlook
- Strong start to the year with good momentum heading into the second quarter.
- Fundamentals for the business are excellent.
- Confident in the ability to continue growing revenue.
- Confident in the ability to continue growing operating earnings.
- Confident in the ability to continue driving EPS.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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