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Dec 31, 2024
Chubb Q4 2024 Earnings Report
Chubb reported fourth quarter earnings with strong premiums written and a solid combined ratio.
Key Takeaways
Chubb reported a strong fourth quarter with net income of $2.58 billion and core operating income of $2.45 billion. Global P&C net premiums written increased by 6.7%, and the P&C combined ratio was 85.7%.
Net income and core operating income were $2.58 billion and $2.45 billion, respectively.
Global P&C net premiums written increased by 6.7%, with commercial insurance up 6.4% and consumer insurance up 7.5%.
P&C underwriting income was $1.58 billion, with a combined ratio of 85.7%.
Life Insurance net premiums written were $1.56 billion, up 8.5% in constant dollars.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Chubb is optimistic about 2025, expecting double-digit growth in operating earnings and EPS, driven by P&C underwriting, investment income, and life income.
Positive Outlook
- Overall market conditions are quite favorable.
- Good growth opportunity for over 80% of global P&C business, commercial and consumer, as well as life business.
- Very good momentum entering ’25.
- Optimistic about the year ahead, both top- and bottom-line.
- Confident in ability to continue growing operating earnings and EPS at a double-digit rate.
Challenges Ahead
- California wildfire disaster with an estimated cost of $1.5 billion net pre-tax is a first quarter 2025 event.
- CAT losses
- Foreign currency movement
- No specific negative items were mentioned other than the wildfire disaster.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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