Q2 2026 Chubb Limited Earnings Call Transcript
Key Points
- Chubb Ltd (CB) reported strong core operating earnings of $2.8 billion, or $7.26 per share, marking a 14.6% increase year-over-year.
- The company's tangible book value per share increased by 17.1% year-over-year, reflecting strong shareholder wealth creation.
- P&C underwriting income rose by nearly 19% to over $1.9 billion, with a favorable combined ratio of 83.8%.
- Adjusted net investment income reached a record $1.88 billion, supported by strong performance in fixed income and alternative asset portfolios.
- Chubb Ltd (CB) demonstrated strong global diversification, with international retail business growing almost 12% in the quarter.
- Soft market conditions are spreading beyond property to more casualty lines, with pricing failing to keep pace with loss costs in numerous areas.
- The company faced a decline in premiums in major account and specialty, or E&S, by 9% due to property market conditions.
- Chubb Ltd (CB) observed competitive pressures in the London wholesale market, with premiums down about 1% in the quarter.
- The corporate runoff portfolio experienced adverse development of $158 million, primarily from molestation-related claims.
- Pricing in financial lines continues to be soft, with some competitors offering inadequate terms and coverage.
Thank you for standing by. My name is Jail, and Iâll be your conference operator today. At this time, Iâd like to welcome everyone to Chubb Limited second-quarter 2026 earnings call. (Operator Instructions)
I'd now like to turn the conference over to Susan Spivak, Senior Vice President, Investor Relations. You may begin.
Thank you, and welcome to our June 30, 2026, second-quarter earnings conference call. Our report today will contain forward-looking statements, including statements relating to the company performance, pricing and business mix, growth opportunities, and economic and market conditions, which are subject to risks and uncertainties, and actual results may differ materially.
See our recent SEC filings, earnings release, and financial supplement, which are all available on our website at investors.chubb.com for more information on factors that could affect these matters. We will
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