Chubb Q1 2024 Earnings Report
Key Takeaways
Chubb reported a strong first quarter with net income of $2.14 billion and core operating income of $2.22 billion, representing increases of 13.3% and 20.3%, respectively. The company experienced double-digit growth in premiums written across various segments and geographies, driven by strong underwriting income and investment income.
Net income increased by 13.3% to $2.14 billion, or $5.23 per share.
Core operating income rose by 20.3% to $2.22 billion, or $5.41 per share.
Consolidated net premiums written grew by 14.1% to $12.2 billion, with P&C up 12.4% and Life Insurance up 26.3%.
The P&C combined ratio was 86.0%, reflecting strong underwriting performance.
Chubb
Chubb
Forward Guidance
Chubb is confident in its ability to continue growing operating earnings at a rapid pace through P&C revenue growth and underwriting margins, investment income, and life income.
Positive Outlook
- P&C underwriting environment in North America is favorable.
- Pricing exceeding loss costs.
- Best rates and pricing overall in the last four to five quarters.
- Strong performance in Overseas General division.
- Retail commercial P&C lines pricing across our international business was favorable.