Chubb Reports Fourth Quarter Net Income Per Share of $4.95 Versus $5.34 Prior Year, and Record Core Operating Income Per Share of $3.81, Up 19.8%

Τετάρτη, 02 Φεβρουαρίου 2022 17:37
Record Full-Year Per Share Net Income and Core Operating Income of $19.27 and $12.56, Up 147.4% and 71.8%, Respectively; Consolidated Net Premiums Written of $38 Billion, Up 12%, with Commercial Lines Up 17.7%
- Fourth quarter net income was $2.14 billion and core operating income was a record $1.65 billion.
- Fourth quarter P&C underwriting income was a record $1.27 billion, up 30.7%. P&C combined ratio was 85.5%, compared with 87.6% prior year. P&C current accident year underwriting income excluding catastrophe losses was $1.40 billion, up 31.8%. P&C current accident year combined ratio excluding catastrophe losses was a record 83.9%, compared with 86.4% prior year.
- Fourth quarter consolidated net premiums written were up 8.8%. P&C net premiums written were up 9.6%, driven by growth in commercial lines of 12.9%. Total North America P&C net premiums written were up 8.7%, including growth in commercial lines of 11.2%. Overseas General P&C net premiums written were up 10.2%, including growth in commercial lines of 15.0% and consumer lines of 3.2%.
- Record full-year net income and core operating income were $8.54 billion and $5.57 billion, up 141.7% and 68.1%, respectively.
- Full-year P&C underwriting income was a record $3.70 billion, up 205.4%, and record P&C current accident year underwriting income excluding catastrophe losses was $5.17 billion, up 26.9%. P&C combined ratio was 89.1%, compared with 96.1% prior year, and P&C current accident year combined ratio excluding catastrophe losses was a record 84.8%, compared with 86.7% prior year.
- Full-year P&C net premiums written were up 13.0%, the strongest organic growth in over 15 years, driven by commercial lines growth of 17.7%. Total North America P&C net premiums written were up 12.1%, including growth in commercial lines of 16.4%. Overseas General P&C net premiums written were up 14.8%, including growth in commercial lines of 21.4% and consumer lines of 5.6%.
- Record full-year pre-tax net investment income and adjusted net investment income were $3.46 billion and $3.72 billion, respectively.
- During the quarter, the company entered into agreements with several shareholders to purchase additional ownership interests in Huatai Group, a Chinese financial services holding company that, upon regulatory approval of all outstanding agreements, will bring Chubb's total aggregate ownership to 86.1%.
 
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