- Net income was $2.23 billion, up 24.3%, and core operating income was $2.20 billion, up 7.5%. For the six months, net income was $4.37 billion, up 18.7%, and core operating income was a record $4.41 billion, up 13.5%.
- Global P&C net premiums written, which excludes Agriculture, were up 11.2%, with commercial insurance up 9.6% and consumer insurance up 15.2%. North America was up 8.0%, including growth of 12.3% in personal insurance and 6.7% in commercial insurance, with P&C lines up 8.7% and financial lines down 2.9 %. Overseas General was up 15.6%, with growth of 19.1% in consumer insurance and 13.3% in commercial insurance; Asia-Pacific, Latin America, and Continental Europe were up 32.9%, 13.7%, and 10.8%, respectively.
- P&C underwriting income was $1.42 billion. P&C current accident year underwriting income excluding catastrophe losses was a record $1.81 billion, up 11.1%, with a record low combined ratio of 83.2%. For the six months, P&C underwriting income was $2.82 billion, up 6.8%, and was $3.43 billion, up 10.7%, on a current accident year excluding catastrophe losses basis. Both were records.
- Pre-tax catastrophe losses were $580 million compared with $400 million last year. For the six months, catastrophe losses were $1.02 billion compared with $858 million last year.
- Life Insurance net premiums written were $1.58 billion, up 24.5%, or 27.6% in constant dollars, and segment income was $276 million, up 8.7%, or 11.4% in constant dollars. Life Insurance net premiums written and deposits collected were $2.13 billion, up 27.4%, or 31.1% in constant dollars.
- Pre-tax net investment income was $1.47 billion, up 28.2%, and adjusted net investment income was $1.56 billion, up 25.9%. Both were records.
- Annualized return on equity (ROE) was 14.7%. Annualized core operating return on tangible equity (ROTE) was 21.1% and annualized core operating ROE was 13.3%.
Chubb Limited (NYSE: CB) reported net income for the quarter ended June 30, 2024 of $2.23 billion, or $5.46 per share, and core operating income of $2.20 billion, or $5.38 per share. Book value per share and tangible book value per share increased 1.3% and 1.7%, respectively, from March 31, 2024 and now stand at $151.05 and $91.05. Book value was unfavorably impacted by after-tax net realized and unrealized losses of $437 million in the company's investment portfolio and $457 million of foreign exchange losses. Book value per share and tangible book value per share excluding AOCI increased 2.6% and 3.1%, respectively, from March 31, 2024.
