NYSE: CB · Property & Casualty Insurance
Chubb Limited
Chubb is a Zurich-based insurer with operations in 54 countries and territories, providing commercial and consumer property and casualty (P&C) insurance, accident and health, reinsurance, and life insurance through six segments. North America Commercial P&C is the largest (38% of 2025 net premiums earned). FY2025 net premiums written were $54.8 billion (+6.6%), the P&C combined ratio was 85.7%, and net income attributable to Chubb was a record $10.31 billion. It controls about 87.2% of China's Huatai Group.
Last updated
Analysis last edited: October 31, 2026 · Financial data fetched: October 17, 2026 10:06 (SEC EDGAR) · Source 10-K filed: February 27, 2026
Built on10-K FY2025 · filed 2026-02-2710-Q (quarter ended 2026-09-30) · filed 2026-10-28
Next update expectedAfter FY2026’s 10-K is filed (roughly 60–90 days after fiscal year end (sooner for larger filers)), financials and analysis will be refreshed.
01
At a glanceFrom SEC data
Eight headline measures, each placed among the companies covered on this site.
- Revenue growthCAGRSmooths out year-to-year swings into "grew X% a year on average." Makes growth pace comparable across companies of very different sizes.
- 10.5%
- Net marginOperating marginHow many cents of operating profit are left per dollar of revenue. Reflects pricing power and cost structure.
- 17.4%
- Return on equityROIC − WACC spreadThe difference between ROIC and WACC. Consistently positive implies value creation; consistently negative implies value destruction.
- 15.0%
- Equity ratioEBITDAOperating income with D&A added back. A rough proxy for cash-generating power that’s less distorted by capital intensity, depreciation method, or financing/tax differences than net income.
- 27.1%
- Cash conversionOperating CF ÷ net income (cash conversion)How much of reported profit shows up as actual cash. 1x or higher means profit is backed by cash.
- 1.24x
- Dividend raisesDividend per shareTotal annual dividend paid per share (sum of all declared payments for the year).
- 3 of 5
- P/E todayP/EShare price ÷ EPS — how many years of current earnings the stock price represents. This site uses the period-end figure as reported in the filing.
- 12.8x
- Betaβ (beta)How much a stock moves, on average, for a 1% move in the overall market. Above 1 means more volatile than the market, which raises the return shareholders require. This site computes it from about 2.5 years (roughly 130 weeks) of weekly returns, built from Yahoo Finance daily prices, regressed against an S&P 500 ETF (SPY) as the market proxy, then applies the well-known long-run mean-reversion adjustment (0.67 × β + 0.33) as the WACC default.
- 0.41
Higher than 61% of 44 financial companies
Average yearly growth over the years shown
Higher than 42% of 45 financial companies
Latest fiscal year (FY2025)
Higher than 60% of 45 financial companies
Latest fiscal year (FY2025)
Higher than 84% of 45 financial companies
Equity ÷ total assets
Higher than 50% of 44 financial companies
Operating cash flow ÷ net income
Years the dividend per share rose, of the last 5
Latest close 2026-11-04; trailing 12 months to 2026-09-30
Above 1 = moves more than the market
Each marker shows where this company sits among the financial companies covered on this site, not all listed companies (left = lowest, right = highest). A high position is not automatically good — for net debt ÷ EBITDA, higher means more debt. Details and formulas are in the sections below and in How to read this.
02
Valuation todayFrom SEC data
Price-based measures at the latest close, next to the same measures at the last fiscal year-end.
Share price$368.70close on 2026-11-04
Market cap$144.2B
- P/EP/EShare price ÷ EPS — how many years of current earnings the stock price represents. This site uses the period-end figure as reported in the filing. today
- 12.8x
- P/BP/BShare price ÷ book value per share. Below 1x means the market values the company below its accounting net worth. This site uses the closing price nearest the fiscal year-end and highlights sub-1x readings. today
- 2.0x
- EV/EBITDAEV/EBITDAEnterprise value (≈ market cap + interest-bearing debt − cash) as a multiple of EBITDA — roughly, "how many years of EBITDA to buy the whole company." Lower is generally viewed as cheaper, and it’s more comparable than P/E across companies with different debt loads or depreciation policies. This site excludes noncontrolling interests from the EV calculation. today
- —
- FCF yieldFree cash flow (FCF)Operating CF minus capital expenditures — cash generated by the business after funding its own investment, available for dividends, buybacks, acquisitions, or debt paydown. Acquisitions and securities purchases (also in investing CF) are not subtracted, so FCF can be positive in a year when total investing CF exceeds operating CF. today
- —
- Dividend yieldDividend per shareTotal annual dividend paid per share (sum of all declared payments for the year). today
- 1.0%
At FY2025 year-end: 12.2x
Earnings: trailing 12 months to 2026-09-30
At FY2025 year-end: 1.7x
Book value at FY2025 year-end
At FY2025 year-end: —
EBITDA for FY2025
At FY2025 year-end: 0.0%
Free cash flow for FY2025
Dividends per share for FY2025
“Today” uses the latest closing price (2026-11-04, Yahoo Finance daily closing prices) and shares outstanding at the last fiscal year-end. The rest of this page — including the financial table and ROIC vs. WACC — uses fiscal year-end prices. These are reference figures, not a judgment of whether the stock is cheap or expensive.
03
What changed since last earningsFrom SEC data
The latest reported quarter against the same quarter a year earlier, the balance sheet against the previous quarter-end, and what management said in its latest earnings release.
Quarter ended Sep 30, 2026.
- Revenue$16.15B → $16.2B (vs. a year earlier)→ +0.3%$16.15B → $16.2B (vs. a year earlier)
- Net income$2.8B → $2.84B (vs. a year earlier)↑ +1.5%$2.8B → $2.84B (vs. a year earlier)
- Diluted EPS$6.99 → $7.30 (vs. a year earlier)↑ +4.4%$6.99 → $7.30 (vs. a year earlier)
- Cash$2.75B → $3.01B (vs. previous quarter-end)↑ +9.3%$2.75B → $3.01B (vs. previous quarter-end)
- Long-term debt$17.45B → $17.99B (vs. previous quarter-end)↑ +3.1%$17.45B → $17.99B (vs. previous quarter-end)
Source: Form 10-Q ↗ (SEC XBRL). Long-term debt is the tagged long-term debt figure and leaves out short-term borrowings.
From the earnings release of Oct 20, 2026.
Key changes
Q3 net income $2.84B, up 1.5%; core operating income $2.98B, down 2.2%. Source sentence
Net income was $2.84 billion, up 1.5%, and core operating income was $2.98 billion, down 2.2%.
P&C net premiums written $13.18B, up 1.9%. Source sentence
P&C net premiums written were $13.18 billion, up 1.9%.
Written by AI. A line appears only if its figures and direction match the quoted sentence, which an automatic check confirms. Companies' outlooks are their own and may not be met. Read the release ↗
04
Company profileFrom SEC dataShow
- Legal name
- Chubb Ltd
- Headquarters
- ZURICH, Switzerland
- Incorporated in
- Switzerland
- Fiscal year end
- 12/31
- Exchange & ticker
- NYSE: CB
- Industry
- Property & Casualty Insurance
- CIK
- 896159
- Website
- https://www.chubb.com/ ↗
Workforce (as of FY2025 year-end)
Employees
45,000
Source: Form 10-K (FY2025) cover page and business description
05
Earnings calendarFrom SEC dataShow
When the company reports each quarter: the quarter-end date, the day results were released, and when the 10-Q or 10-K was filed.
Next report
Q4 FY2026
Quarter end: December 2026. In past years, Q4 results were released 28–34 days after quarter end (Feb 3, 2026; Jan 28, 2025; Jan 31, 2024). No date has been announced in the sources this site uses.
Reporting pattern
- Fiscal year ends around December 31.
- Reports four times a year: three quarterly reports (10-Q) and an annual report (10-K) for Q4.
- Earnings releases came 20–34 days after quarter end over the last 12 quarters.
| Quarter | Quarter ended | Earnings release (8-K) | Report filed (10-Q / 10-K) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | Oct 20, 2026 (+20 days) | Oct 28, 2026 10-Q (+28 days) |
| Q2 FY2026 | Jun 30, 2026 | Jul 21, 2026 (+21 days) | Jul 28, 2026 10-Q (+28 days) |
| Q1 FY2026 | Mar 31, 2026 | Apr 21, 2026 (+21 days) | Apr 28, 2026 10-Q (+28 days) |
| Q4 FY2025 | Dec 31, 2025 | Feb 3, 2026 (+34 days) | Feb 27, 2026 10-K (+58 days) |
| Q3 FY2025 | Sep 30, 2025 | Oct 21, 2025 (+21 days) | Oct 27, 2025 10-Q (+27 days) |
| Q2 FY2025 | Jun 30, 2025 | Jul 22, 2025 (+22 days) | Jul 28, 2025 10-Q (+28 days) |
| Q1 FY2025 | Mar 31, 2025 | Apr 22, 2025 (+22 days) | Apr 28, 2025 10-Q (+28 days) |
| Q4 FY2024 | Dec 31, 2024 | Jan 28, 2025 (+28 days) | Feb 27, 2025 10-K (+58 days) |
| Q3 FY2024 | Sep 30, 2024 | Oct 29, 2024 (+29 days) | Oct 30, 2024 10-Q (+30 days) |
| Q2 FY2024 | Jun 30, 2024 | Jul 23, 2024 (+23 days) | Jul 26, 2024 10-Q (+26 days) |
| Q1 FY2024 | Mar 31, 2024 | Apr 23, 2024 (+23 days) | Apr 26, 2024 10-Q (+26 days) |
| Q4 FY2023 | Dec 31, 2023 | Jan 31, 2024 (+31 days) | Feb 23, 2024 10-K (+54 days) |
Source: SEC EDGAR filing history. Release dates are the dates the earnings release was furnished to the SEC on Form 8-K (Item 2.02), which is normally the day results are announced. For a quarter whose 10-Q or 10-K isn’t filed yet, the date is the latest Item 2.02 8-K since the previous report, which may be a preliminary or other results-related update. Fiscal years are labeled by the calendar year in which they end.
06
Flagship products & servicesSite analysis
Commercial
Commercial P&C
Examples: Property, casualty, workers' compensation, risk management programs
Including loss control, engineering, and complex claims management.
Commercial
Specialty and financial lines
Examples: Directors & officers, umbrella and excess casualty, aviation, energy
Specialized coverage for large and mid-sized companies.
Consumer
High-net-worth personal lines
Examples: Homeowners, high-value autos, valuable articles, fine art
Sold in North America through Chubb Personal Risk Services.
Consumer
Accident & health
Examples: Personal accident, supplemental health
Sold internationally and in the U.S.
Agriculture
Crop insurance
Examples: Multiple Peril Crop Insurance, crop-hail
Through Rain and Hail.
Reinsurance
Chubb Tempest Re
Examples: Traditional and non-traditional reinsurance
For primary P&C insurers.
Life
Life insurance
Examples: Term and whole life, endowments, annuities
International life operations, including Huatai Life in China.
Product descriptions are from the FY2025 Form 10-K's Item 1.
U.S., worldwide and country/regional share of flagship products/services
Only shares the company itself states (in its filings or press releases, sometimes citing a research firm) are shown. Scope and timing vary by figure — treat these as approximate.
Crop insurance (via Rain and Hail)
U.S. crop insurance writers
U.S. share
One of the leading writers
Company-disclosedSince the 1980s.
Worldwide share
—
Not disclosedPolitical risk and credit insurance
Worldwide
U.S. share
—
Not disclosedWorldwide share
One of the leading underwriters
Company-disclosedPortfolio in more than 150 countries.
Sources:
07
Recent strategic focusSite analysis
FY2025 results from the 10-K and Q3 2026 results from the October 20, 2026 earnings release.
Q3 2026 results
Net income was $2.84B ($7.30 per share, +4.4%) and record core operating income $2.98B ($7.66); the P&C combined ratio was 84.1% with $705M of catastrophe losses (vs $285M); net investment income a record $1.79B (+8.6%). Book value per share fell to $191.43 in the quarter on $4.48B of after-tax investment losses.
Source: 8-K filed 2026-10-20 (Exhibit 99.1)
Pulling back in large-account property
In Q3 2026, North America Commercial premiums fell 2.7% (up 1.7% excluding large-account property, E&S and financial lines actions), after major accounts and specialty fell 9.0% in Q2; Overseas General grew 6.7%.
Source: 8-K filed 2026-10-20 (Exhibit 99.1); 8-K filed 2026-07-21 (Exhibit 99.1)
Expanding in Southeast Asia
Chubb bought Liberty Mutual's P&C businesses in Thailand ($321M, April 2025) and Vietnam (February 2026), reported in Overseas General.
Source: Form 10-K (FY2025) Note 2
New debt
Chubb INA Holdings sold $1.0B of 5.300% notes due 2036 in May 2026 and C$800M of notes due 2031 and 2033 in June 2026, guaranteed by Chubb Limited.
Source: 8-Ks filed 2026-05-20 and 2026-06-10
M&A spend (6-year total)
$7.21B
Latest year: $289M
Cash-flow-statement spending on acquisitions, net of cash acquired
Where the money goes, over time
Unit: $M
- M&A spend
formulacapital expenditures ÷ depreciation & amortization
termsCapital expenditures (capex) · Depreciation & amortization (D&A)
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-27
08
Key figures at a glanceFrom SEC data
FY2020–FY2025, 6 years.
Total revenue (FY2025)
$59.4B
As reported in the 10-K
Revenue CAGR (5 years)
+10.5%▲favorable
formula(last-period revenue ÷ first-period revenue) ^ (1 ÷ years) − 1
e.g.($59,402M ÷ $35,994M) ^ (1÷5) − 1 = 10.5%
termsCAGR · ^ (exponent) · Revenue (net sales)
ROE (FY2025)
15.0%▲favorable
6-year average: 12.7%
As reported in the 10-K
- ▲
Revenue grew +10.5% a year over 5 years (strong growth)
From $35.99B in FY2020 to $59.4B in FY2025. The annualized rate (CAGR) makes it possible to compare growth pace across companies of different sizes.
- ▲
ROE averaged 12.7% over 6 years (latest: 15.0%)
How much profit was generated on shareholders’ equity. Roughly 10%+ is often cited as solid for a U.S. company, though this varies a lot by industry and capital intensity.
09
Business modelSite analysis
Business Model Canvas
The whole company in nine blocks. Left side: how it delivers (partners, activities, resources, costs). Right side: who it serves and how it earns. Every entry comes from the company’s filings shown on this page.
08 · who helps
Key partners
- Huatai Insurance Group
- ABR Reinsurance Capital Holdings (supplier)
- HDI Group (Hannover Re) (supplier)
- Swiss Re Group (supplier)
- Berkshire Hathaway Insurance Group (supplier)
- Munich Re Group (supplier)
07 · what it does
Key activities
North America Commercial P&C Insurance
Underwriting commercial risks- Risk management programs, loss control, and engineering
North America Personal P&C Insurance
Underwriting personal linesNorth America Agricultural Insurance
Underwriting crop and farm risksOverseas General Insurance
Underwriting commercial, specialty, and consumer risks outside North AmericaGlobal Reinsurance
Reinsuring other insurers' risksLife Insurance
Life, accident, and supplemental health insurance- Asset management in China
06 · what it draws on
Key resources
North America Commercial P&C Insurance
Underwriting and claims expertise- Brokers and agents
North America Personal P&C Insurance
Independent agents and brokersNorth America Agricultural Insurance
Rain and Hail agency network- U.S. federal crop program
Overseas General Insurance
Local operations and distribution partners- Lloyd's Syndicate 2488
Global Reinsurance
Reinsurance brokersLife Insurance
Agents, bancassurance, and other distribution
02 · why customers buy
Value propositions
- Property, casualty, accident and health and life insurance worldwide, with underwriting expertise and broad product breadth.
04 · how it keeps them
Customer relationships
- Policies renewed through agents and brokers; Chubb cites a seamless customer experience and superior coverage for high-net-worth clients.
03 · how it reaches them
Channels
- Retail agents and brokers, wholesale brokers and Lloyd's (Syndicate 2488), and in Asia bank and agency networks (e.g. Huatai Life's 265 branches/sales offices).
01 · who it serves
Customer segments
North America Commercial P&C Insurance
Large corporations, middle market and small businessesNorth America Personal P&C Insurance
Affluent and high-net-worth individuals and families in the U.S. and CanadaNorth America Agricultural Insurance
Farmers, ranchers, and agribusinesses in the U.S. and CanadaOverseas General Insurance
Corporations and individuals in Europe, Asia, Latin America, and other regionsGlobal Reinsurance
Primary P&C insurance companiesLife Insurance
Individuals and employers, mainly in Asia
09 · where money goes
Cost structure
FY2025, share of revenue ($59.4B)
- Selling, general & administrative7.6%
Source: Form 10-K income statement and cash-flow statement (SEC XBRL).
05 · how money comes in
Revenue streams
North America Commercial P&C Insurance
Insurance premiums- Investment income
North America Personal P&C Insurance
Insurance premiums- Investment income
North America Agricultural Insurance
Insurance premiumsOverseas General Insurance
Insurance premiums- Investment income
Global Reinsurance
Reinsurance premiumsLife Insurance
Premiums- Fees
Value propositions, channels and customer relationships: Form 10-K (FY2025)
North America Commercial P&C Insurance
Commercial P&C, excess and umbrella, and financial lines for large corporate accounts, wholesale business, and middle market and small commercial customers in the U.S., Canada, and Bermuda.
01 what it draws on
Inputs & resources
- Underwriting and claims expertise
- Brokers and agents
- Reinsurance
02 what it does
Activities
- Underwriting commercial risks
- Risk management programs, loss control, and engineering
- Claims management
03 who it serves
Customers
- Large corporations, middle market and small businesses
04 how money comes in
How it earns
- Insurance premiums
- Investment income
North America Commercial P&C Insurance: how it makes money
- Net premiums earned $20.4B and segment income $7.56B in FY2025, with a combined ratio of 81.4%.
- Net premiums written: Major Accounts & Specialty $12.7B (+1.4%), Commercial $8.6B (+6.4%).
North America Personal P&C Insurance
High-net-worth personal lines (Chubb Personal Risk Services): homeowners, high-value and collector cars, valuable articles including fine art, umbrella, travel, cyber, and recreational marine.
01 what it draws on
Inputs & resources
- Independent agents and brokers
02 what it does
Activities
- Underwriting personal lines
03 who it serves
Customers
- Affluent and high-net-worth individuals and families in the U.S. and Canada
04 how money comes in
How it earns
- Insurance premiums
- Investment income
North America Personal P&C Insurance: how it makes money
- Net premiums earned $6.8B (+9.3%) in FY2025, but segment income fell 27% to $1.05B because of $1.72B of catastrophe losses, mainly the California wildfires; combined ratio 91.5%.
North America Agricultural Insurance
Crop insurance — mainly federally subsidized Multiple Peril Crop Insurance and crop-hail through Rain and Hail — plus farm and ranch coverage through Chubb Agribusiness.
01 what it draws on
Inputs & resources
- Rain and Hail agency network
- U.S. federal crop program
02 what it does
Activities
- Underwriting crop and farm risks
03 who it serves
Customers
- Farmers, ranchers, and agribusinesses in the U.S. and Canada
04 how money comes in
How it earns
- Insurance premiums
North America Agricultural Insurance: how it makes money
- Net premiums earned $2.9B and segment income $577M in FY2025 (5% of consolidated net premiums earned).
Overseas General Insurance
International retail commercial and consumer P&C and A&H (Chubb International, including Huatai P&C in China) and the wholesale London-market business, Chubb Global Markets.
01 what it draws on
Inputs & resources
- Local operations and distribution partners
- Lloyd's Syndicate 2488
02 what it does
Activities
- Underwriting commercial, specialty, and consumer risks outside North America
03 who it serves
Customers
- Corporations and individuals in Europe, Asia, Latin America, and other regions
04 how money comes in
How it earns
- Insurance premiums
- Investment income
Overseas General Insurance: how it makes money
- Net premiums earned $14.4B and segment income $3.17B in FY2025.
- Added LMG Insurance in Thailand (April 2025) and Liberty Insurance in Vietnam (February 2026), both bought from Liberty Mutual.
Global Reinsurance
Traditional and non-traditional reinsurance sold mainly through reinsurance brokers under the Chubb Tempest Re brand.
01 what it draws on
Inputs & resources
- Reinsurance brokers
02 what it does
Activities
- Reinsuring other insurers' risks
03 who it serves
Customers
- Primary P&C insurance companies
04 how money comes in
How it earns
- Reinsurance premiums
Global Reinsurance: how it makes money
- Net premiums earned $1.35B and segment income $634M in FY2025 (3% of consolidated net premiums earned).
Life Insurance
International life operations (Chubb Life, including Huatai Life), Chubb Tempest Life Re, U.S. supplemental accident, health, and life (Chubb Benefits), and Huatai's asset management companies.
01 what it draws on
Inputs & resources
- Agents, bancassurance, and other distribution
02 what it does
Activities
- Life, accident, and supplemental health insurance
- Asset management in China
03 who it serves
Customers
- Individuals and employers, mainly in Asia
04 how money comes in
How it earns
- Premiums
- Fees
- Investment income
Life Insurance: how it makes money
- Net premiums earned $7.2B and segment income $1.24B in FY2025 (14% of consolidated net premiums earned).
- In Q3 2026, Life segment income was $369M, up 11.4%.
Government & regulation around the business
Non-market factors from the company’s filings: what governments and regulators fund, buy, set, approve or restrict, and which part of the flow above each one touches.
Chubb’s foreign operations face political, tax and trade changes.
Trade & export rules
Geopolitical and trade changes
Foreign operations could be hurt by law, tax and trade-policy changes.
Constrains the businessTouches: ActivitiesSource: Form 10-K (FY2025)
Revenue by segment (FY2025)
Unit: $M — bar length = revenue, (%) = share of total company revenue, margin = segment profit ÷ segment revenue × 100
North America Commercial P&C
20,381 (38%)profit 7,559 · margin 37.1%
North America Personal P&C
6,763 (13%)profit 1,048 · margin 15.5%
North America Agricultural
2,919 (6%)profit 577 · margin 19.8%
Overseas General
14,374 (27%)profit 3,167 · margin 22.0%
Global Reinsurance
1,353 (3%)profit 634 · margin 46.9%
Life Insurance
7,224 (14%)profit 1,242 · margin 17.2%
Source: Form 10-K (FY2025) — Note 19, Segment Information Revenue is net premiums earned and profit is segment income (underwriting income plus net investment income, less other expense and intangibles amortization). Segment income totals $14.2B before corporate items, interest expense, and realized gains.
10
Contract structureSite analysisShow
Short-term or spot sales carry different earnings quality than long-term or auto-renewing contracts — this shows how the company actually contracts with its customers.
Chubb earns money from insurance premiums and from investing the funds it holds to pay claims. Its investment portfolio is invested mainly in investment-grade fixed-income securities, and the 10-K says it does not allow leverage in the portfolio.
P&C insurance (commercial and consumer)
$45.8B of FY2025 net premiums earned
Five P&C segments; the P&C combined ratio was 85.7%.
Life insurance
$7.2B of FY2025 net premiums earned
Mostly international life operations, including Huatai Life.
11
Alliances & capital tiesSite analysisShow
Equity stakes, joint ventures, and strategic partnerships disclosed across the 10-K, 8-Ks, and proxy statement.
Capital tie / equity stake
Huatai Insurance Group
A Chinese financial services holding company with P&C, life, and asset management subsidiaries. Chubb gained a controlling majority interest on July 1, 2023 and owned about 87.2% at year-end 2025.
Source: Form 10-K (FY2025) — Item 1
12
Customers & suppliersSite analysis
Who the company sells to and buys from. Companies rarely name either, so named counterparties come only from the company's own filings and press releases; otherwise this lists the concentration figures the 10-K discloses.
Customers
Large corporations, middle market and small businesses, affluent and high-net-worth individuals, farmers, other insurers (reinsurance), and life and A&H policyholders, reached through brokers, agents, and other distribution.
Named by the company
No customer is named.
What the filings disclose
- 40% of employees are in Asia, 37% in North America, 13% in Latin America, and 10% in Europe/Eurasia/Africa. (Form 10-K (FY2025), Item 1)
Suppliers
Reinsurers that take on part of Chubb's risk, and brokers and agents that distribute its products.
Named by the company
- ABR Reinsurance Capital Holdings — Listed among Chubb's largest reinsurers.Form 10-K (FY2025) — MD&A, Reinsurance recoverable
- HDI Group (Hannover Re) — Listed among Chubb's largest reinsurers.Form 10-K (FY2025) — MD&A, Reinsurance recoverable
- Swiss Re Group — Listed among Chubb's largest reinsurers.Form 10-K (FY2025) — MD&A, Reinsurance recoverable
- Berkshire Hathaway Insurance Group — Listed among Chubb's largest reinsurers.Form 10-K (FY2025) — MD&A, Reinsurance recoverable
- Munich Re Group — Listed among Chubb's largest reinsurers.Form 10-K (FY2025) — MD&A, Reinsurance recoverable
What the filings disclose
- The largest reinsurers accounted for $8.9B of $20.7B gross reinsurance recoverable at year-end 2025. (Form 10-K (FY2025), MD&A)
13
Competitors & peersSite analysis
Competitors the 10-K names, and the peer group the company itself chose in its proxy statement. Nothing here is this site's own pick.
Chubb's 10-K describes competition by segment. In the London wholesale market, it competes with Lloyd's syndicates, other London-market carriers, and major international insurers and reinsurers, and with domestic insurers for international risks.
Competitors named in the 10-K
Chubb Global Markets (London wholesale)
- Lloyd’ssite ↗
Lloyd's syndicates, plus other London-market carriers and major international insurers and reinsurers, which the 10-K doesn't name.
Peer group the company chose
Financial Performance Peer Group, from the proxy statement. Peers are companies the board considers comparable — for example when setting executive pay — not necessarily direct competitors.
Used by the Compensation Committee to compare Chubb's financial results; Liberty Mutual is used for all metrics except TSR, and Zurich for TSR only.
- Allstatesite ↗
- American International Group (AIG)site ↗
- CNA Financialsite ↗
- The Hartfordsite ↗
- Liberty Mutualsite ↗
- Travelerssite ↗
- Zurich Insurance Groupsite ↗
Company names link to this site’s analysis where one exists; “site ↗” opens the company’s own website.
14
M&A historySite analysisShow
Companies acquired over the last five years, plus older large acquisitions that still anchor a current business — what each was bought to do, and what happened afterward. From the 10-K, 8-Ks, and the company's press releases.
Chubb has grown through acquisitions, adding Asian life and A&H businesses and control of China's Huatai Group, then smaller P&C deals in Southeast Asia.
Cash spent on acquisitions, FY2020–FY2025: $7.21B
2022
Cigna's business in several Asian markets
Not stated in the FY2025 Form 10-K
Personal accident, supplemental health, and life insurance in Asia.
- Stated purpose (company)
- Expanded Chubb's A&H and life insurance business.
Source: Form 10-K (FY2025) — Item 1
Jul 2023
Controlling interest in Huatai Insurance Group
Not stated in the FY2025 Form 10-K
Chinese holding company with P&C, life, and asset management subsidiaries; Chubb owned about 87.2% at year-end 2025.
- Stated purpose (company)
- Greater product, customer, and geographical diversification.
Source: Form 10-K (FY2025) — Item 1
May 2024
Healthy Paws Pet Insurance
About $300M
A pet insurance managing general agent bought from Aon; Chubb had been its exclusive underwriter since 2013.
- Stated purpose (company)
- Expand in a niche market with substantial growth potential.
Source: Form 10-K (FY2025) — Note 2
Apr 2025
LMG Insurance (Thailand)
$321M
Liberty Mutual's consumer and commercial P&C business in Thailand.
- Stated purpose (company)
- Expands Chubb's presence and long-term growth opportunity in the region.
Source: Form 10-K (FY2025) — Note 2
Feb 2026
Liberty Insurance (Vietnam)
Not stated in the FY2025 Form 10-K
Liberty Mutual's P&C business in Vietnam, reported in Overseas General from Q1 2026.
- Stated purpose (company)
- Not stated in the filings.
Source: Form 10-K (FY2025) — Note 2
15
Six years of financialsFrom SEC data
Each chart's axis holds a single unit (never mixing dollars, %, and $/share). The table's per-period header links to the filing the numbers came from.
Total revenue over time
Unit: $M
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-27
Profit over time (operating → net)
Unit: $M
- Pretax income
- Net income
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-27
Cash flow over time
Unit: $M (below zero = cash went out)
- Operating CF
- Investing CF
- Free CF
formulacash flow from operations − capital expenditures
termsFree cash flow (FCF) · Cash flow from operations (operating CF) · Capital expenditures (capex)
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-27
Financial stability & capital efficiency
Unit: %
- Equity ratio
- ROE
formulatotal equity ÷ total assets × 100 (as reported in the 10-K)
termsStockholders’ equity · Total assets
formulanet income ÷ average equity (beginning + ending, ÷2) × 100 (as reported in the 10-K)
termsNet income (attributable to the company) · Stockholders’ equity
Earnings per share (EPS) and dividend per share
Unit: $
- EPS
- Dividend per share
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-27
| Line item | FY202010-K on EDGAR ↗ | FY202110-K on EDGAR ↗ | FY202210-K on EDGAR ↗ | FY202310-K on EDGAR ↗ | FY202410-K on EDGAR ↗ | FY202510-K on EDGAR ↗ |
|---|---|---|---|---|---|---|
| Income statement ($M) | ||||||
| Revenue | 35,994 | 40,869 | 43,097 | 49,735 | 55,753 | 59,402 |
| Pretax income | 4,162 | 9,794 | 6,485 | 9,526 | 11,455 | 13,044 |
| Net income (attributable) | 3,533 | 8,525 | 5,246 | 9,028 | 9,272 | 10,310 |
| Revenue growthcalc(this year’s revenue − last year’s revenue) ÷ last year’s revenue × 100 | — | 13.5% | 5.5% | 15.4% | 12.1% | 6.5% |
| Net margincalcnet income attributable to the company ÷ revenue × 100 | 9.8% | 20.9% | 12.2% | 18.2% | 16.6% | 17.4% |
| Balance sheet ($M) | ||||||
| Total assets | 190,774 | 200,054 | 199,017 | 230,682 | 246,548 | 272,327 |
| Total equity | 59,441 | 58,328 | 50,519 | 63,691 | 68,394 | 79,779 |
| Interest-bearing debtSum of short- and long-term borrowings, notes/bonds payable | 14,948 | 16,168 | 14,877 | 14,495 | 15,179 | 17,227 |
| Equity ratio | 31.2% | 29.2% | 25.4% | 25.8% | 26.0% | 27.1% |
| ROE | 5.9% | 14.5% | 9.6% | 16.4% | 15.0% | 15.0% |
| Cash flow ($M) | ||||||
| Operating CF | 9,785 | 11,151 | 11,258 | 12,632 | 16,182 | 12,816 |
| Investing CF | -7,521 | -6,659 | -5,654 | -7,648 | -13,923 | -11,260 |
| Financing CF | -2,082 | -4,411 | -5,142 | -4,489 | -2,181 | -1,850 |
| Cash and equivalents | 1,747 | 1,659 | 2,012 | 2,621 | 2,549 | 2,470 |
| Per share & other | ||||||
| EPS ($) | 7.79 | 19.24 | 12.39 | 21.80 | 22.70 | 25.68 |
| BVPS ($) | 131.88 | 136.74 | 121.85 | 146.83 | 159.77 | 188.59 |
| Dividend per share ($) | — | — | 3.29 | 3.41 | 3.59 | 3.82 |
| Payout ratiocalcdividend per share ÷ diluted EPS × 100 | — | — | 26.6% | 15.6% | 15.8% | 14.9% |
| P/E (x) | 19.8 | 10.1 | 17.8 | 10.4 | 12.2 | 12.2 |
| P/B (x)calcfiscal year-end closing price ÷ book value per share | 1.17 | 1.41 | 1.81 | 1.54 | 1.73 | 1.66 |
P/B and EV/EBITDA use each period’s period-end (fiscal year-end) figures, not the current share price. Figures without a "calc" tag are as reported in the Form 10-K (the consolidated financial statements and, for older years, earlier 10-Ks), pulled automatically from SEC EDGAR. Where a later filing restated a prior period, the restated figure is used.
Last 8 quarters
Three-month figures from 10-Q filings. Change is versus the same quarter a year earlier. Newest quarter on top.
| Quarter ended | Revenue | Net income | Diluted EPS |
|---|---|---|---|
| 2026-09-30 | $16.2B+0.3% | $2.84B+1.5% | $7.30 |
| 2026-06-30 | $15.82B+6.6% | $2.85B-3.8% | $7.30 |
| 2026-03-31 | $14.77B+10.6% | $2.32B+74.3% | $5.88 |
| 2025-12-31 † | $15.07B+6.3% | $3.21B+24.7% | — |
| 2025-09-30 | $16.15B | $2.8B | $6.99 |
| 2025-06-30 | $14.84B | $2.97B | $7.35 |
| 2025-03-31 | $13.35B | $1.33B | $3.29 |
| 2024-12-31 † | $14.18B | $2.58B | — |
† Fourth quarter = the 10-K’s annual figure minus the first three quarters; quarterly EPS isn’t derived this way because share counts change during the year.
16
Measures that fit this businessFrom SEC data
ROIC and free cash flow don’t suit an insurer, so these are the usual yardsticks instead.
- P&C combined ratio
- 85.7%
2025
As stated by the company: Form 10-K (FY2025)
| Measure | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Return on equityNet income ÷ stockholders’ equity. | 5.9% | 14.5% | 9.6% | 16.4% | 15.0% | 15.0% |
| Premiums earned growthChange from the prior year. | — | 9.6% | 11.2% | 13.3% | 9.0% | 6.4% |
| Claims and benefits ÷ premiums earnedNot a combined ratio: underwriting expenses are excluded, and life insurers’ benefits run higher by design. | 65.6% | 57.9% | 55.9% | 52.7% | 52.2% | 50.4% |
| Equity ÷ total assetsThe accounting cushion. Regulatory capital ratios are listed separately above when the filing states them. | 31.2% | 29.2% | 25.4% | 25.8% | 26.0% | 27.1% |
Computed from SEC XBRL figures. A dash means the company doesn’t tag that figure or the result fell outside a plausible range. Tagging differs between filers, so check the filing before comparing two companies closely.
17
Is ROIC above WACC?From SEC data
ROIC (the return on money invested in the business) above WACC (the cost of raising that money) means the company is creating value. WACC is an estimate, so its assumptions can be adjusted below.
Banks, insurers, and similar financial companies aren’t compared this way, since deposits/policies are the business itself and debt can’t be cleanly separated from operating capital.
18
What the price implies (DCF)From SEC data
A company's value can be written as its free cash flow divided by (cost of capital − perpetual growth). Working that backwards from the market's valuation shows how much growth the share price assumed — compared here with the company's actual past growth.
Not applied to banks, insurers, and similar financial companies: their operating cash flow includes deposits or premiums held for customers, so it isn’t free cash flow available to investors.
19
Earnings qualityFrom SEC dataShow
The same reported profit can mean different things depending on whether it's backed by cash, driven by the core business, or the result of a one-off item. Four checks below.
Financial companies’ operating cash flow behaves differently from an operating company’s, so this analysis doesn’t apply.
20
Who holds the sharesFrom SEC dataShow
How much of the stock large institutional investors report owning on SEC Form 13F, how much the directors and executive officers hold (and how much of the vote they control), and roughly how much is left for individual investors. Shown next to beta so the holder mix can be read alongside how much the stock swings.
Institutions, insiders and everyone else, 13F holdings as of 2026-06-30
“Everyone else” is what remains after shares reported on Form 13F and shares held by directors and executive officers: mostly individual investors, plus non-insider families or foundations and smaller or foreign institutions. The figures have different dates and 13F reports count some shares twice — read it as an approximate split.
- Held by 13F filers
- 90.4%
- Directors & officers (shares)
- <1%
- Everyone else (est.)
- 9.6%
- Directors & officers (voting power)
- <1%
- Institutional-ownership rank
- 187 of 416
- Beta (adjusted)
- 0.41
individuals and other non-13F holders
no separate voting figure; shown as shares
1 = most institutional; 45% of covered companies have more
above 1 = swings more than the market
- 348.9M shares reported by 2,156 13F filers ÷ 385.8M shares outstanding on 2026-07-20. Option positions are excluded.
- Directors and executive officers as a group, from the proxy statement’s beneficial-ownership table (percentage computed from the group’s share count ÷ shares outstanding); includes shares they can acquire within 60 days.
- A large “everyone else” share can still reflect a family, trust or foundation stake held outside the board; check the proxy statement’s 5% holders.
Sources: SEC Form 13F data set (holdings as of 2026-06-30) · Form DEF 14A filed 2026-04-03 (beneficial ownership table) · Form 10-Q cover page (shares outstanding as of 2026-07-20)
21
Strengths & weaknessesSite analysis
Strengths
1. Underwriting profit
The P&C combined ratio was 85.7% in 2025 (86.6% in 2024) despite 6.3 points of catastrophe losses, mainly from the California wildfires.
Evidence: Form 10-K (FY2025) MD&A
2. Record earnings
Net income attributable to Chubb was a record $10.31B in 2025, up from $9.27B, with growth in P&C underwriting income, Life segment income, and net investment income.
Evidence: Form 10-K (FY2025) MD&A
3. Diversified by product and region
Six segments and operations in 54 countries and territories; 40% of employees are in Asia and 37% in North America.
Evidence: Form 10-K (FY2025) Item 1
4. Large capital base
Chubb shareholders' equity was $73.8B at year-end 2025, up from $64.0B.
Evidence: Form 10-K (FY2025) Consolidated statements of shareholders' equity
Weaknesses
1. Catastrophe exposure in personal lines
North America Personal P&C took $1.72B of catastrophe losses in 2025, and its segment income fell 27%.
Evidence: Form 10-K (FY2025) MD&A
2. Legacy asbestos and environmental claims
Corporate carries run-off asbestos, environmental, and molestation exposures acquired with Westchester Specialty (1998), CIGNA's P&C business (1999), and The Chubb Corporation (2016); Corporate prior-period development was $306M unfavorable in 2025.
Evidence: Form 10-K (FY2025) Item 1 and Note 8
3. Higher tax burden
Bermuda introduced a 15% corporate income tax from January 1, 2025, ending the historic absence of Bermuda income tax on Chubb's Bermuda operations.
Evidence: Form 10-K (FY2025) Item 1A
22
What draws investors to itSite analysis
Why the stock can look attractive to investors — each point paired with what has to hold for it to stay true, and the opposing view. This is this site's analysis, not a recommendation to buy or sell.
P/E (FY2025)
12.2x
Price at fiscal year-end ÷ diluted EPS
Dividend yield (FY2025)
1.22%
Dividends per share ÷ fiscal year-end price
Payout ratio (FY2025)
15%
Dividends per share ÷ diluted EPS
1. Steady underwriting
P&C combined ratios of 86.5%, 86.6%, and 85.7% in 2023–2025, and 83.8% and 84.1% in Q2 and Q3 2026.
- What has to hold
- Pricing discipline holds and catastrophe losses stay near recent levels.
- The other side
- A large catastrophe year can push the ratio higher, as the 2025 wildfires did in personal lines.
Evidence: Form 10-K (FY2025) MD&A; 8-K filed 2026-10-20 (Exhibit 99.1)
2. Shrinking share count
Shares issued fell from 426.6M (FY2021) to 391.1M (FY2025); in the first nine months of 2026, Chubb repurchased $3.30B of shares and returned $4.47B in total.
- What has to hold
- Earnings keep funding buybacks.
- The other side
- Buybacks above Swiss share-capital limits need shareholder approval.
Evidence: SEC EDGAR XBRL; 8-K filed 2026-10-20 (Exhibit 99.1)
3. Growing book value
Book value per share was $191.43 at September 30, 2026, up 5.1% from a year earlier (excluding AOCI, tangible book value per share rose 15.4%).
- What has to hold
- Investment and underwriting results stay positive.
- The other side
- Currency moves and unrealized investment losses also flow into book value.
Evidence: 8-K filed 2026-10-20 (Exhibit 99.1)
P/E, dividend yield, and payout ratio use the FY2025 year-end share price. FCF yield isn't shown for insurers because operating cash flow includes premiums held to pay future claims.
23
ResilienceSite analysisShow
How well the company could absorb a bad year: its financial buffer, how its revenue and profit held up in the worst year on record, and what the 10-K says about the business's exposure to shocks. Figures and filing statements only — no overall rating.
1. Financial buffer (FY2025)
For an insurer or bank, debt-coverage ratios like these don’t describe its ability to absorb losses — that depends on its capital, reserves, and investment portfolio, which are covered in part 3 below.
2. Worst year in the record, and the recovery
| Figure | Worst year-over-year change | Back to the prior level? |
|---|---|---|
| Revenue | No decline in the record | — |
| Net income | -38.5% in FY2022 ($8.53B → $5.25B) | Yes, by FY2023 |
Covers only the 6 fiscal years on record (FY2020–FY2025), which may not include a full recession — the worst year here isn’t necessarily how the company would fare in a severe downturn.
3. Business resilience (from the 10-K)
Capital
Chubb shareholders' equity of $73.8B at year-end 2025.
Source: Form 10-K (FY2025), Consolidated statements of shareholders' equity
Investment portfolio
Mainly investment-grade fixed income, with no leverage allowed, managed under Chubb Asset Management.
Source: Form 10-K (FY2025), Item 1
Reinsurance
Reinsurance protection is bought to keep losses, including certain catastrophes, within Chubb's risk appetite.
Source: Form 10-K (FY2025), Item 1
Diversification
Six segments across commercial, consumer, agricultural, reinsurance, and life business in 54 countries and territories.
Source: Form 10-K (FY2025), Item 1
24
Legal & regulatory mattersSite analysisShow
Lawsuits, government investigations, enforcement actions and settlements the company discloses — where each stands, what is at stake, and what comes next. From the 10-K's Legal Proceedings and contingencies note, the latest 10-Q, and 8-Ks.
Chubb reports policy-coverage claims litigation, which it covers in loss reserves, and ordinary-course business litigation and regulatory actions.
Company statement: Management believes its ultimate liability for these matters is not likely to be material to its financial condition and results.
Based on Form 10-Q (quarter ended 2026-09-30) — Legal Proceedings, reviewed 2026-10-18. Routine ordinary-course claims are not listed. “Major” is this site’s judgment of which matters could materially affect results.
25
Risks (including geopolitical)Site analysis
Starting from the 10-K's Risk Factors section, organized by category — geopolitical, currency, raw materials, regulatory, disaster, and more — with impact and likelihood assessed by this site.
Risk map
Vertical = impact on results, horizontal = likelihood. Upper right = most severe. Numbers match the list below (placement is this site’s own assessment).
Likelihood →
"Company disclosure" vs. "this site’s assessment"
The description and mitigation for each risk are this site’s summary of the 10-K’s "Risk Factors" section. Impact and likelihood are this site’s own assessment, not the company’s — where the company discloses its own likelihood assessment, that is noted in the summary.
Impact is judged from how large the affected business is relative to total revenue/profit, and from the risk’s track record of moving results in the past. Likelihood is judged from the filing’s wording and the current business environment (already occurring, or recurring). See the rating criteria.
Geopolitical risk highlights
- [4]Foreign operations
- 1Disaster
Catastrophe losses
- Company disclosure (summarized from the 10-K)
- P&C catastrophe losses were 6.3 points of the combined ratio in 2025, mainly from the California wildfires in the first quarter.
- Company’s stated mitigation
- Chubb buys reinsurance to limit exposure to losses, including certain catastrophes, to a level consistent with its risk appetite.
- This site’s assessment
- Impact High / Likelihood High
- 2Governance & quality
Reserve adequacy
- Company disclosure (summarized from the 10-K)
- Loss reserves could prove insufficient, especially for long-tail run-off exposures such as asbestos, environmental, and molestation claims.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact High / Likelihood Med
- 3Customer/supplier concentration
Reinsurer credit
- Company disclosure (summarized from the 10-K)
- Gross reinsurance recoverable was $20.7B, of which $8.9B was owed by the largest reinsurers; reinsurers could fail to pay.
- Company’s stated mitigation
- An allowance for uncollectible reinsurance of $320M (1.5% of gross recoverable).
- This site’s assessment
- Impact Med / Likelihood Low
- 4Geopolitical
Foreign operations
- Company disclosure (summarized from the 10-K)
- With operations in 54 countries and territories, including developing nations, Chubb is exposed to law and tax changes, trade policy, political upheaval, and nationalization without compensation.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact Med / Likelihood Med
- 5Law & regulation
Global minimum tax
- Company disclosure (summarized from the 10-K)
- The OECD global minimum tax, Bermuda's 15% corporate income tax, and Swiss measures have changed long-standing tax principles and could raise Chubb's taxes.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact Med / Likelihood Med
- 6Funding & liquidity
Swiss share-capital limits
- Company disclosure (summarized from the 10-K)
- Under Swiss law, buybacks beyond 10% of share capital need shareholders to approve a capital band or ratify the repurchase program; otherwise capital returns through buybacks could be restricted.
- Company’s stated mitigation
- Shareholders renewed the capital band at the May 21, 2026 annual meeting.
- This site’s assessment
- Impact Low / Likelihood Low
- 7FX & interest rates
Currency and investment markets
- Company disclosure (summarized from the 10-K)
- Overseas General and Life operate largely outside the U.S.; currency moves swung book value by −$254M in Q2 2026 and +$551M in Q3 2026.
- Company’s stated mitigation
- Investment portfolio is mainly investment-grade fixed income with no leverage.
- This site’s assessment
- Impact Med / Likelihood Med
26
What changed in the risk factorsFrom SEC data
Paragraphs in the latest 10-K's Risk Factors that have little overlap with the year before, and paragraphs that were dropped.
New or substantially reworded (3)
The amount of capital that our insurance subsidiaries have and must hold to maintain their financial strength and credit ratings and meet other requirements can vary significantly from time to time and is sensitive to a number of factors, some of which are outside of our control.
Capital requirements for our insurance subsidiaries are prescribed by the applicable insurance regulators, while rating agencies establish requirements that inform ratings for our insurance subsidiaries. Read more
Projecting surplus and the related capital requirements is complex and requires making assumptions regarding how our business will perform within the broader macroeconomic environment. Insurance regulators and rating agencies evaluate company capital through financial models that calculate minimum capitalization requirements based on risk-based capital formulas for property and casualty insurance groups and their subsidiaries. In any particular year, capital levels and risk-based capital requirements may increase or decrease depending on a variety of factors including the mix of business written by our insurance subsidiaries and correlation or diversification in the business profile,…
Our Bermuda operations are subject to taxation in Bermuda because of the newly effective Bermuda Corporate Income Tax Act.
No longer in the text (4)
The imposition of the Bermuda corporate income tax will increase our effective tax rate and cash taxes paid beginning in 2025.
We could be adversely affected by certain features of the Inflation Reduction Act.
On August 16, 2022, President Biden signed the Inflation Reduction Act (IRA) of 2022 (H.R. Read more
5376). Key tax provisions included in the Inflation Reduction Act include a 15 percent corporate alternative minimum tax (CAMT) on adjusted financial statement income for corporations with average profits over $1 billion, and a 1 percent excise tax on repurchases of corporate stock. The CAMT and the excise tax on share repurchases are effective for tax years beginning after December 31, 2022. Since enactment, the IRS and U.S. Treasury Department have issued final and proposed regulations and notices, interpreting and implementing the new provisions. Guidance on rules implementing the Inflation Reduction Act is not yet final in some areas; there are many uncertainties relating to its ultimate application and effects on our company.
On January 20, 2025, President Trump issued a memorandum announcing that the OECD framework has “no force or effect in the United States” and disavowing any commitments previously made by the United States with respect to the framework. Read more
The memorandum also directs the U.S. Secretary of the Treasury to develop and present to President Trump a list of protective measures or other options towards foreign countries that are either not in compliance with any tax treaty with the United States or have tax rules that are “extraterritorial or disproportionately affect American companies.” The possible uneven enactment of the OECD framework by various jurisdictions coupled with the United States’ response to these rules could cause uncertainties to and increases in our income taxes.
1 more paragraphs differ; the filings below have the full text.
Matched automatically, quoted as filed, and may include rewording of an existing risk. Compares Item 1A of the 10-K filed Feb 27, 2026 ↗ with the 10-K filed Feb 27, 2025 ↗.
27
What to watch going forwardSite analysis
- Catastrophe losses, especially in North America personal lines.
- Pricing in large-account and E&S property, where Chubb cut back in Q2–Q3 2026.
- Growth in Asia, including Huatai and the Liberty Mutual businesses in Thailand and Vietnam.
- Pace of share repurchases under the remaining authorization.
- Tax rate under Bermuda's corporate income tax and the global minimum tax.
28
Source documentsShow
This page's financial figures come from the Form 10-Ks listed below. Check the original filings for full detail.
Last updated
Analysis last edited: October 31, 2026 · Financial data fetched: October 17, 2026 10:06 (SEC EDGAR) · Source 10-K filed: February 27, 2026
Built on10-K FY2025 · filed 2026-02-27
Next update expectedAfter FY2026’s 10-K is filed (roughly 60–90 days after fiscal year end (sooner for larger filers)), financials and analysis will be refreshed.
This page is this site’s own analysis based on public information, and does not represent Chubb Limited’s views. It is not a recommendation to buy or sell any security, and this site does not guarantee the accuracy of any figure or statement here. Always verify against the original source documents before making an investment decision.