NYSE : CB
Chubb Limited — Financial statements
Financials · Insurance - Property & Casualty · Switzerland
Last price 362.28 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 138.42B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 55.80B | 53.01B | 49.85B | 45.71B | 40.36B | 36.29B |
| Total Interest & Dividend Income | 6.95B | 6.47B | 5.95B | 4.96B | 3.78B | 3.54B |
| Gain (Loss) on Sale of Investments | -632.00M | 512.00M | 304.00M | -523.00M | -1.39B | 620.00M |
| Other Revenue | -180.00M | -374.00M | -120.00M | -364.00M | -49.00M | 77.00M |
| Total Revenue | 61.94B | 59.62B | 55.98B | 49.78B | 42.70B | 40.53B |
| Policy Benefits | 32.96B | 32.16B | 30.74B | 27.73B | 24.89B | 22.77B |
| Policy Acquisition & Underwriting Costs | 10.52B | 9.85B | 9.10B | 8.26B | 7.34B | 6.76B |
| Amortization of Goodwill & Intangibles | 298.00M | 301.00M | 323.00M | 310.00M | 285.00M | 287.00M |
| Selling, General & Administrative | 4.60B | 4.50B | 4.38B | 4.01B | 3.40B | 3.13B |
| Other Operating Expenses | -211.00M | -154.00M | -56.00M | 31.00M | 90.00M | 68.00M |
| Total Operating Expenses | 48.17B | 46.66B | 44.48B | 40.34B | 35.99B | 33.02B |
| Operating Income | 13.77B | 12.97B | 11.49B | 9.45B | 6.71B | 7.51B |
| Interest Expense | -807.00M | -764.00M | -741.00M | -672.00M | -570.00M | -492.00M |
| Earnings From Equity Investments | 1.03B | 1.14B | 967.00M | 867.00M | 1.00M | 2.44B |
| Currency Exchange Gain (Loss) | -91.00M | -223.00M | -223.00M | -183.00M | 397.00M | 340.00M |
| EBT Excluding Unusual Items | 13.89B | 13.12B | 11.49B | 9.46B | 6.53B | 9.79B |
| Merger & Restructuring Charges | -104.00M | -79.00M | -39.00M | -69.00M | -48.00M | |
| Other Unusual Items | 135.00M | |||||
| Pretax Income | 13.79B | 13.04B | 11.46B | 9.53B | 6.49B | 9.79B |
| Income Tax Expense | 2.65B | 2.42B | 1.81B | 511.00M | 1.24B | 1.27B |
| Earnings From Continuing Ops. | 11.14B | 10.62B | 9.64B | 9.02B | 5.25B | 8.53B |
| Minority Interest in Earnings | 90.00M | -312.00M | -368.00M | 13.00M | ||
| Net Income | 11.23B | 10.31B | 9.27B | 9.03B | 5.25B | 8.53B |
| Net Income to Common | 11.23B | 10.31B | 9.27B | 9.03B | 5.25B | 8.53B |
| Shares Outstanding (Basic) | 388.99M | 397.61M | 404.19M | 410.85M | 419.78M | 439.97M |
| Shares Outstanding (Diluted) | 392.99M | 401.51M | 408.49M | 414.20M | 423.53M | 443.20M |
| EPS (Basic) | 28.86 | 25.93 | 22.94 | 21.97 | 12.50 | 19.38 |
| EPS (Diluted) | 28.57 | 25.68 | 22.70 | 21.80 | 12.39 | 19.24 |
| Dividend Per Share | 3.98 | 3.82 | 3.59 | 3.41 | 3.29 | 3.18 |
| Operating Margin | 22.22% | 21.75% | 20.53% | 18.98% | 15.70% | 18.53% |
| Profit Margin | 18.13% | 17.29% | 16.56% | 18.14% | 12.29% | 21.03% |
| EBITDA | 14.06B | 13.27B | 11.81B | 9.76B | 6.99B | 7.80B |
| EBITDA Margin | 22.70% | 22.25% | 21.11% | 19.60% | 16.37% | 19.24% |
| D&A For EBITDA | 298.00M | 301.00M | 323.00M | 310.00M | 285.00M | 287.00M |
| EBIT | 13.77B | 12.97B | 11.49B | 9.45B | 6.71B | 7.51B |
| EBIT Margin | 22.22% | 21.75% | 20.53% | 18.98% | 15.70% | 18.53% |
| Effective Tax Rate | 19.23% | 18.57% | 15.85% | 5.36% | 19.11% | 12.96% |
| Revenue as Reported | 61.85B | 59.40B | 55.75B | 49.73B | 43.10B | 40.87B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 135.56B | 133.18B | 119.26B | 112.90B | 94.07B | 103.23B |
| Investments in Equity & Preferred Securities | 28.29B | 28.04B | 23.92B | 17.53B | 15.69B | 17.75B |
| Policy Loans | 1.12B | 941.00M | 651.00M | 343.00M | 243.00M | |
| Other Investments | 8.66B | 5.79B | 6.01B | 5.19B | 5.56B | 3.75B |
| Total Investments | 172.51B | 168.13B | 150.13B | 136.27B | 115.66B | 124.97B |
| Cash & Equivalents | 2.76B | 2.27B | 2.29B | 2.45B | 2.01B | 1.66B |
| Reinsurance Recoverable | 20.92B | 20.62B | 20.07B | 20.23B | 19.16B | 17.58B |
| Other Receivables | 19.75B | 17.67B | 15.83B | 14.73B | 12.87B | 12.14B |
| Deferred Policy Acquisition Cost | 11.42B | 10.01B | 8.36B | 7.15B | 6.03B | 5.51B |
| Separate Account Assets | 7.34B | 6.92B | 6.23B | 5.57B | 5.19B | 5.56B |
| Property, Plant & Equipment | 1.03B | 4.53B | 3.92B | 3.68B | 3.01B | 2.44B |
| Goodwill | 20.55B | 20.21B | 19.58B | 19.69B | 16.23B | 15.21B |
| Other Intangible Assets | 6.12B | 8.44B | 6.38B | 6.78B | 5.44B | 5.46B |
| Restricted Cash | 250.00M | 198.00M | 261.00M | 172.00M | 115.00M | 152.00M |
| Other Current Assets | 4.87B | 4.17B | 3.60B | 3.41B | 3.22B | 3.09B |
| Long-Term Deferred Tax Assets | 1.46B | 1.31B | 1.60B | 1.74B | ||
| Other Long-Term Assets | 14.55B | 7.85B | 8.30B | 8.80B | 10.08B | 6.28B |
| Total Assets | 283.51B | 272.33B | 246.55B | 230.68B | 199.02B | 200.05B |
| Accounts Payable | 9.14B | 8.42B | 8.83B | 6.86B | 5.39B | 11.21B |
| Insurance & Annuity Liabilities | 39.95B | 35.89B | 32.73B | 30.34B | 21.99B | 15.20B |
| Unpaid Claims | 91.83B | 88.02B | 84.00B | 80.12B | 75.75B | 72.94B |
| Unearned Premiums | 28.61B | 26.28B | 23.50B | 22.05B | 19.71B | 19.10B |
| Reinsurance Payable | 110.00M | 131.00M | 84.00M | 206.00M | 269.00M | |
| Current Portion of Long-Term Debt | 668.00M | 1.50B | 800.00M | 1.46B | 475.00M | 999.00M |
| Current Portion of Leases | 210.00M | |||||
| Short-Term Debt | 5.52B | 5.82B | 4.18B | 4.13B | 2.94B | 3.24B |
| Current Income Taxes Payable | 330.00M | |||||
| Long-Term Debt | 18.42B | 16.15B | 14.80B | 13.34B | 14.71B | 15.48B |
| Long-Term Leases | 1.26B | 1.00B | 942.00M | 832.00M | 633.00M | 484.00M |
| Long-Term Deferred Tax Liabilities | 1.85B | 1.74B | 1.58B | 1.55B | 377.00M | 389.00M |
| Separate Account Liability | 7.34B | 6.92B | 6.23B | 5.57B | 5.19B | |
| Other Current Liabilities | 412.00M | 478.00M | 421.00M | 306.00M | 992.00M | 927.00M |
| Total Liabilities | 205.00B | 192.55B | 178.15B | 166.99B | 148.50B | 140.34B |
| Common Stock | 224.00M | 231.00M | 235.00M | 241.00M | 10.35B | 10.98B |
| Additional Paid-In Capital | 12.39B | 13.25B | 14.39B | 15.66B | 7.17B | 8.48B |
| Retained Earnings | 74.52B | 69.95B | 61.56B | 54.81B | 48.30B | 47.37B |
| Treasury Stock | -4.42B | -4.70B | -3.52B | -4.40B | -5.11B | -7.46B |
| Comprehensive Income & Other | -9.48B | -4.97B | -8.64B | -6.81B | -10.19B | 350.00M |
| Total Common Equity | 73.23B | 73.76B | 64.02B | 59.51B | 50.52B | 59.71B |
| Minority Interest | 5.29B | 6.02B | 4.37B | 4.18B | ||
| Shareholders' Equity | 78.51B | 79.78B | 68.39B | 63.69B | 50.52B | 59.71B |
| Total Liabilities & Equity | 283.51B | 272.33B | 246.55B | 230.68B | 199.02B | 200.05B |
| Filing Date Shares Outstanding | 382.08M | 390.16M | 400.41M | 405.76M | 413.51M | 426.23M |
| Total Common Shares Outstanding | 382.53M | 391.10M | 400.70M | 405.27M | 414.59M | 426.57M |
| Total Debt | 25.87B | 24.69B | 20.72B | 19.77B | 18.76B | 20.20B |
| Net Cash (Debt) | -23.11B | -22.41B | -18.43B | -17.32B | -16.75B | -18.54B |
| Net Cash Per Share | -58.79 | -55.83 | -45.11 | -41.81 | -39.54 | -41.83 |
| Book Value Per Share | 191.43 | 188.59 | 159.77 | 146.83 | 121.85 | 139.99 |
| Tangible Book Value | 46.56B | 45.11B | 38.06B | 33.05B | 28.85B | 39.05B |
| Tangible Book Value Per Share | 121.72 | 115.34 | 95.00 | 81.54 | 69.59 | 91.53 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 11.23B | 10.31B | 9.27B | 9.03B | 5.25B | 8.53B |
| Depreciation & Amortization | 298.00M | 301.00M | 323.00M | 310.00M | 285.00M | 287.00M |
| Gain (Loss) on Sale of Investments | 278.00M | -864.00M | -711.00M | 266.00M | 1.66B | -366.00M |
| Change in Accounts Receivable | -1.70B | -1.17B | -1.28B | -1.07B | -696.00M | -984.00M |
| Reinsurance Recoverable | -259.00M | -169.00M | -30.00M | -498.00M | -1.74B | -1.95B |
| Change in Accounts Payable | 278.00M | 53.00M | 342.00M | -735.00M | -68.00M | -2.42B |
| Change in Unearned Revenue | 1.35B | 2.10B | 1.80B | 1.38B | 1.44B | 1.25B |
| Change in Income Taxes | 82.00M | -160.00M | 69.00M | 128.00M | -149.00M | 48.00M |
| Change in Insurance Reserves / Liabilities | 6.33B | 5.02B | 6.30B | 4.16B | 5.04B | 6.80B |
| Other Operating Activities | 2.43B | 100.00M | 2.48B | 1.63B | 641.00M | 2.82B |
| Operating Cash Flow | 17.81B | 12.82B | 16.18B | 12.63B | 11.26B | 11.15B |
| Cash Acquisitions | -25.00M | -289.00M | -538.00M | -34.00M | -5.17B | -1.18B |
| Investment in Securities | -12.49B | -11.79B | -13.30B | -7.72B | -861.00M | -6.34B |
| Other Investing Activities | 289.00M | 824.00M | -108.00M | 122.00M | 373.00M | 865.00M |
| Investing Cash Flow | -12.23B | -11.26B | -13.92B | -7.65B | -5.65B | -6.66B |
| Short-Term Debt Issued | 6.30B | 4.50B | 4.98B | 4.51B | 1.86B | |
| Long-Term Debt Issued | 2.42B | 2.41B | 1.58B | |||
| Total Debt Issued | 10.34B | 8.72B | 6.91B | 4.98B | 4.51B | 3.43B |
| Total Debt Repaid | -9.16B | -6.49B | -6.26B | -5.20B | -5.51B | -1.86B |
| Net Debt Issued (Repaid) | 1.18B | 2.23B | 654.00M | -219.00M | -998.00M | 1.58B |
| Issuance of Common Stock | 369.00M | 327.00M | 356.00M | 212.00M | 264.00M | 300.00M |
| Repurchases of Common Stock | -4.45B | -3.69B | -1.80B | -2.41B | -2.89B | -4.86B |
| Common Dividends Paid | -1.54B | -1.50B | -1.44B | -1.39B | -1.38B | -1.40B |
| Other Financing Activities | -1.13B | 535.00M | -269.00M | -864.00M | -106.00M | -81.00M |
| Financing Cash Flow | -5.05B | -1.85B | -2.18B | -4.49B | -5.14B | -4.41B |
| Foreign Exchange Rate Adjustments | 26.00M | 215.00M | -150.00M | -1.00M | -146.00M | -106.00M |
| Net Cash Flow | 556.00M | -79.00M | -72.00M | 494.00M | 316.00M | -25.00M |
| Levered Free Cash Flow | 11.23B | 12.14B | 12.73B | 11.06B | -2.21B | 10.95B |
| Unlevered Free Cash Flow | 11.74B | 12.61B | 13.19B | 11.48B | -1.86B | 11.25B |
| Cash Interest Paid | 735.00M | 650.00M | 599.00M | 553.00M | 552.00M | 492.00M |
| Cash Income Tax Paid | 2.21B | 2.21B | 1.66B | 1.47B | 1.24B | 1.30B |
| Change in Working Capital | 4.60B | 4.11B | 5.78B | 2.26B | 3.43B | 2.32B |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 140.98B | 122.84B | 111.38B | 92.21B | 91.56B | 83.27B |
| Enterprise Value | 164.09B | 150.64B | 135.45B | 114.16B | 109.79B | 101.02B |
| PE Ratio | 12.92 | 11.91 | 12.01 | 10.21 | 17.45 | 9.77 |
| PS Ratio | 2.28 | 2.06 | 1.99 | 1.85 | 2.14 | 2.05 |
| PB Ratio | 1.93 | 1.54 | 1.63 | 1.45 | 1.81 | 1.39 |
| P/OCF Ratio | 7.92 | 9.59 | 6.88 | 7.30 | 8.13 | 7.47 |
| EV/Sales Ratio | 2.65 | 2.53 | 2.42 | 2.29 | 2.57 | 2.49 |
| EV/EBITDA Ratio | 11.67 | 11.35 | 11.46 | 11.70 | 15.71 | 12.96 |
| EV/EBIT Ratio | 11.92 | 11.62 | 11.79 | 12.08 | 16.37 | 13.45 |
| Debt / Equity Ratio | 0.33 | 0.31 | 0.30 | 0.31 | 0.37 | 0.34 |
| Debt / EBITDA Ratio | 1.81 | 1.83 | 1.72 | 1.99 | 2.62 | 2.54 |
| Net Debt / Equity Ratio | 0.29 | 0.28 | 0.27 | 0.27 | 0.33 | 0.31 |
| Net Debt / EBITDA Ratio | 1.64 | 1.69 | 1.56 | 1.77 | 2.40 | 2.38 |
| Quick Ratio | 0.19 | 0.18 | 0.18 | 0.18 | 0.18 | 0.15 |
| Current Ratio | 0.40 | 0.38 | 0.39 | 0.40 | 0.40 | 0.35 |
| Asset Turnover | 0.22 | 0.23 | 0.23 | 0.23 | 0.21 | 0.21 |
| Return on Equity (ROE) | 14.25% | 14.34% | 14.60% | 15.79% | 9.52% | 14.31% |
| Return on Assets (ROA) | 3.11% | 3.12% | 3.01% | 2.75% | 2.10% | 2.40% |
| Return on Invested Capital (ROIC) | 10.58% | 10.91% | 11.21% | 11.71% | 7.27% | 8.26% |
| Earnings Yield | 7.74% | 8.39% | 8.33% | 9.79% | 5.73% | 10.24% |
| Dividend Yield | 1.11% | 1.22% | 1.29% | 1.50% | 1.49% | 1.63% |
| Payout Ratio | 14.28% | 14.60% | 15.49% | 15.44% | 26.21% | 16.43% |
| Buyback Yield / Dilution | 2.77% | 1.71% | 1.38% | 2.20% | 4.44% | 2.26% |
| Total Shareholder Return | 3.88% | 2.92% | 2.67% | 3.70% | 5.93% | 3.89% |