Chubb Q2 2023 Earnings Report

Chubb's financial performance included double-digit premium revenue and earnings growth, supported by underwriting results and record net investment income.

Key Takeaways

Chubb reported a record second quarter with net income of $1.79 billion, or $4.32 per share, and core operating income of $2.04 billion, or $4.92 per share. The company's performance was driven by strong P&C premium revenue growth, excellent underwriting margins, and record net investment income.

Net income was $1.79 billion, up 50.7%, and core operating income was a record $2.04 billion, up 13.9%.

P&C net premiums written of $10.68 billion were up 9.8%, or 10.4% in constant dollars.

Life Insurance net premiums written increased 126.1%, or 127.6% in constant dollars, to $1.27 billion.

Pre-tax net investment income was $1.14 billion, up 28.9%, and adjusted net investment income was $1.24 billion, up 30.6%.

Total Revenue

$10.7B

Previous year: $9.73B