Chubb Q1 Premiums Rise 10.7% While Core EPS Beats at $6.82
Chubb reported Q1 net income of $2.32 billion ($5.88 per share) and core operating income of $2.69 billion ($6.82 per share), with net premiums written up 10.7% to $14.01 billion. Property & Casualty underwriting income surged to $1.79 billion delivering an 84.0% combined ratio and book value per share rose 15.8% to $189.93.
1. Q1 Earnings Overview
Chubb reported net income of $2.32 billion, or $5.88 per share, for Q1 2026 alongside core operating income of $2.69 billion, or $6.82 per share. The core operating EPS outpaced some expectations, even as GAAP EPS fell short of the $6.60 consensus estimate.
2. Premium Growth Performance
Consolidated net premiums written climbed 10.7% to $14.01 billion, with P&C premiums up 7.2% to $11.72 billion and Life Insurance premiums rising 33.1% to $2.29 billion. Broad-based growth reflects strong client demand across Chubb’s insurance segments.
3. Underwriting Profitability
P&C underwriting income grew to $1.79 billion, supporting an industry-leading combined ratio of 84.0%. This underwriting strength underscores disciplined risk selection and pricing power in core property and casualty operations.
4. Balance Sheet and Valuation Metrics
Book value per share increased 15.8% year-over-year to $189.93, driven by comprehensive income and capital retention. Adjusted net investment income of $1.84 billion further bolstered Chubb’s financial foundation for future growth.