Chubb Limited has reported net income for the quarter ended September 30, 2026 of USD 2.84 billion, and core operating income of USD 2.98 billion.

Book value per share and tangible book value per share increased by 5.1% and 5.7%, respectively, from September 30, 2025 and now stand at USD 191.43 and USD 126.96. For the last three months, book value was unfavorably impacted by after-tax net realized and unrealized losses of USD 4.48 billion in Chubb's investment portfolio, partially offset by USD 551 million of foreign currency gains. Book value per share and tangible book value per share excluding AOCI increased by 11.1% and 15.4% from September 30, 2025.

For the nine months ended September 30, 2026, net income was USD 8.02 billion, and core operating income was USD 8.60 billion. Book value per share and tangible book value per share increased by 1.5% and 0.6%, from December 31, 2025. For the last nine months, book value was unfavorably impacted by after-tax net realized and unrealized losses of USD 6.03 billion in Chubb's investment portfolio, partially offset by USD 643 million of foreign currency gains. Book value per share and tangible book value per share excluding AOCI increased by 7.4% and 10.1%, from December 31, 2025.

Key takeaways of the report:
 

• Net income was USD 2.84 billion, up 1.5%, and core operating income was USD 2.98 billion, down 2.2%. For the nine months, net income and core operating income were a record USD 8.02 billion and USD 8.60 billion, respectively, up 12.9% and 21.0%.
• P&C net premiums written were USD 13.18 billion, up 1.9%.
• P&C underwriting income was USD 2.06 billion, with a combined ratio of 84.1%. P&C current accident year underwriting income excluding catastrophe losses was USD 2.26 billion, up 3.3%, with a combined ratio of 82.6%. For the nine months, P&C underwriting income was USD 5.79 billion, up 33.7%, and was USD 6.39 billion, up 6.1%, on a current accident year excluding catastrophe losses basis. Both were records.
• Total pre-tax net catastrophe losses were USD 705 million compared with USD 285 million in the prior year.
• Total pre-tax favorable prior period development was USD 511 million compared with USD 361 million in the prior year.
• Life Insurance net premiums written were USD 1.96 billion, up 1.4%, or 3.7% in constant dollars. International life insurance net premiums written and deposits collected were USD 2.44 billion, up 15.7%, or 18.6% in constant dollars. Life Insurance segment income was USD 369 million, up 11.4%, or 14.7% in constant dollars, with International Life income up 7.0%, or 10.9% in constant dollars. For the nine months, Life Insurance segment income was USD 1.03 billion, up 9.3%, or 10.0% in constant dollars, with International Life income up 10.8%, or 11.8% in constant dollars.
• Pre-tax net investment income was USD 1.79 billion, up 8.6%, and adjusted net investment income was USD 1.89 billion, up 6.3%. Both were records.
• Annualized return on equity (ROE) was 15.3%. Annualized core operating return on tangible equity (ROTE) was 21.6% and annualized core operating ROE was 14.9%.
• Book value and tangible book value per share increased 5.1% and 5.7%, respectively, from September 30, 2025. Tangible book value per share excluding AOCI was up 15.4% over the same period.

“We had a really strong quarter with strong contributions from all of our businesses. Our diversification is highly supportive of growth and sustained margins which speak to our underwriting discipline, a hallmark of our company”, said Evan G. Greenberg, Chairman and Chief Executive Officer of Chubb Limited.
 

Full report can be found here.