Sector: Financials|Industry: Insurance - Property & Casualty|Market Cap: $111.29B|Employees: 40K
Chubb Limited is a global insurance and reinsurance company offering property and casualty (P&C), accident & health (A&H), and life insurance products and services to a diverse client base worldwide. Its primary revenue streams are premiums earned from insurance and reinsurance contracts, and investment income. Chubb's competitive advantages include its strong financial strength, global reach, and superior claims service.
Net income attributable to Chubb decreased from $2,143 million to $1,331 million, primarily due to higher catastrophe losses. This represents a significant decline in profitability.
Net premiums written increased from $12,221 million to $12,646 million, indicating continued growth in the insurance business. The increase was even higher at 5.7% when measured in constant dollars.
The P&C combined ratio increased from 86.0% to 95.7%, reflecting higher catastrophe losses. This indicates a decrease in underwriting profitability.