Chubb Reports Strong Q3 Results, Stocks Surge

NEW YORK - Chubb Limited (NYSE:CB) reported third-quarter results that exceeded expectations. With revenue and profit surpassing analyst estimates, the company’s shares rose by 1.5% in after-hours trading.
The property and casualty insurance company announced adjusted earnings per share of $5.72, significantly exceeding the consensus estimate of $4.98. Revenue also came in strong, with gross written premiums reaching $16.76 billion compared to the expected $14.16 billion.
Chubb's core operating income increased by 14.3% year-over-year to $2.33 billion, driven by double-digit growth in both P&C insurance revenues and investment income. The company’s P&C combined ratio improved to 87.7% from 88.4% a year earlier.
Evan G. Greenberg, Chubb's Chairman and CEO, stated, "We had an extraordinary quarter contributing to record year-to-date results." He added, "Core operating income and earnings per share increased by 14.3% and 15.6%, respectively. This growth was supported by double-digit growth in both P&C insurance revenues and investment income."
Global net written premiums for P&C, excluding agriculture, grew by 7.6% or 8.5% at constant currency. Commercial premiums rose by over 8%, while personal premiums increased by 9.4%.
The company’s strong results were achieved in a quarter marked by significant catastrophe losses across the industry. Chubb reported a total pre-tax catastrophe loss of $765 million, including $250 million related to Hurricane Helene.
Looking ahead, Greenberg expressed confidence in Chubb's growth prospects, pointing to favorable global commercial P&C insurance conditions and attractive growth opportunities in personal P&C operations.