Chubb Limited is a Swiss-incorporated holding company for a group of insurance and reinsurance businesses. It underwrites commercial and consumer property and casualty (P&C) cover, accident and supplemental health (A&H), reinsurance, and life insurance. Commercial lines range from directors and officers and other financial lines to aviation, energy and excess casualty, while consumer products include homeowners, motor, valuables, umbrella liability and recreational marine cover.
Its clients span multinational corporations, mid-size and small businesses, affluent and high-net-worth individuals, affinity groups, and insurers seeking reinsurance. Most policies are placed through brokers and agents, who are paid commission, alongside digital platforms such as the Chubb Marketplace. Earnings come from three sources: P&C underwriting income, investment income and life segment income, plus asset-management fees in China.
The group runs six segments: North America Commercial P&C, North America Personal P&C, North America Agricultural, Overseas General, Global Reinsurance and Life Insurance. It operates across 54 countries and territories. Chubb was incorporated in 1985, opening its first office in Bermuda, and holds roughly 87.2 percent of China's Huatai Insurance Group.
Based on Chubb Limited's 10-K filed February 27, 2026.
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Revenue for the twelve months to September 2026 was $61.8bn, up 5.7% on a year earlier, slower than the 8.0% growth a quarter earlier. The diluted share count is down 2.8% on a year earlier, which lifts each remaining share.
Our model value for Chubb is under review, so past values are not shown until it is resolved.
Source: 10-Q filed October 28, 2026 on SEC EDGAR · Financials · Valuation
Revenue for the twelve months to June 2026 was $61.8bn, up 5.7% on a year earlier, slower than the 8.0% growth a quarter earlier. The diluted share count is down 2.8% on a year earlier, which lifts each remaining share. Its fundamentals grade moves from C+ to B. The rating stays Hold.
Revenue for the twelve months to June 2026 was $61.8bn, up 8.0% on a year earlier, about the same pace as a quarter earlier. The diluted share count is down 2.5% on a year earlier, which lifts each remaining share.
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Where it stands out: net margin of 18.2% ranks 10 of 48 property & casualty insurance companies we cover.
Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 13% in the quarter to 2026-09-30, the 4th beat in the last four quarters.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Company announcements, filed results and changes that matter to shareholders.
Chubb's quarterly revenue rose just 0.3% year over year, the slowest pace in two years, as catastrophe losses more than doubled to $705 million. Adjusted earnings per share of $7.66 beat the analysts' average estimate by 12.7%, the fourth straight quarterly beat.
Chubb drew a wave of coverage after its third-quarter report. The SEC-derived numbers behind the headlines show where margin, cash flow and share count actually moved, and where the filings stay silent.
No model value for Chubb Limited at the moment. Current status: valuation models disagree too widely to rate. Available reported financials are shown below.
The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.
We value Chubb Limited as an insurer, with every model that fits that kind of business. Cost of equity 7.2%: the 10-year Treasury yield (4.9%) plus a beta of 0.51 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | ~$490 ~$320–$770 | Primary model, counts double |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | ~$510 ~$420–$670 | Included |
| Price-to-book vs return on equity (peers) The price-to-book that peers with this return on equity trade on, from a line fitted across peers. | ~$350 ~$220–$480 | Included |
| Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. | ~$250 ~$200–$430 | Included |
| Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. | ~$300 ~$260–$380 | Included |
| Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. | ~$570 ~$450–$780 | Included |
| Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. | — | Combined value withheld. Review the individual models and their assumptions. |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Chubb Limited with property, casualty and specialty insurers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Strong moat
How hard Chubb's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
Net income has been a median 3.1% of total assets over 10 years.
Net margin has been a median 15.1%; its worst year was 6.6%.
The diluted share count fell 12.4% over five years.
AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (75 before it).
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | $29.05 | +17% | $49.2bn | +3% |
| Next | $29.45 | +1% | $51.2bn | +4% |
Next year's EPS estimate has moved +1.1% in 90 days, across 25 analysts.
The consensus EPS forecast for the current fiscal year is +5.0% on 90 days ago. In the last 30 days, 12 analysts raised Chubb Limited's forecast and 1 cut it.
Average of analysts' published estimates (third-party data).
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | $27.68 | $29.14 |
| 60 days ago | $27.72 | $29.11 |
| 30 days ago | $27.72 | $29.10 |
| 7 days ago | $28.14 | $29.26 |
| Now | $29.05 | $29.45 |
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Sept 2026 | $6.80 | $7.66 | +12.7% |
| Jun 2026 | $6.75 | $7.26 | +7.6% |
| Mar 2026 | $6.61 | $6.82 | +3.2% |
| Dec 2025 | $6.78 | $7.52 | +11.0% |
Adjusted EPS as companies report it, against the average analyst estimate.
Last 12 months +34.4%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $57.2bn | $61.8bn | +8.0% |
| Net margin | 16.1% | 18.1% | +12.6% |
| P/E multiple | 12.1x | 13.1x | +7.8% |
| Share count | 406m | 396m | +2.6% |
Biggest factor: net margin.
Last 3 years +74.2%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $46.5bn | $61.8bn | +33.0% |
| Net margin | 12.5% | 18.1% | +45.3% |
| P/E multiple | 15.3x | 13.1x | −14.6% |
| Share count | 418m | 396m | +5.6% |
Biggest factor: net margin.
| Calendar year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|---|
| Return | ||||||
| CB | +28% | +16% | +4% | +24% | +14% | +19% |
| Industry peers (median) | +14% | −3% | +9% | +31% | +7% | +10% |
| S&P 500 | +29% | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||||
| CB | 50% | 67% | 58% | 67% | 58% | 55% |
| S&P 500 | 75% | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||||
| CB | −11% | −19% | −19% | −10% | −12% | −10% |
| S&P 500 | −5% | −25% | −10% | −8% | −19% | −9% |
Worst fall since November 2, 2015: 43% from February 5, 2020 to March 23, 2020. Getting back needed a 74% gain, reached on February 4, 2021, 318 days after the low.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| October 20, 2026 | −0.4% | +0.9% | 0.0% | — |
| July 21, 2026 | −2.6% | +0.7% | +3.1% | −3.3% |
| April 21, 2026 | −1.4% | +0.4% | +0.1% | −0.5% |
| February 3, 2026 | +5.8% | −1.3% | +4.8% | +6.8% |
| October 21, 2025 | +3.1% | −0.5% | +2.8% | +9.6% |
| July 22, 2025 | −1.4% | +0.9% | −2.0% | +2.1% |
| April 22, 2025 | +1.7% | +4.2% | +1.8% | +3.8% |
| January 28, 2025 | −0.2% | +0.4% | −1.5% | +1.9% |
| October 29, 2024 | −2.2% | −0.1% | −4.4% | +0.1% |
| July 23, 2024 | −0.8% | −2.4% | +5.6% | +3.8% |
| April 23, 2024 | −3.4% | +1.1% | −1.1% | +6.3% |
| January 31, 2024 | +0.7% | −0.3% | +1.5% | +3.1% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY23 Q4 | $49.7B |
| FY24 Q1 | $51.6B |
| FY24 Q2 | $53.6B |
| FY24 Q3 | $54.6B |
| FY24 Q4 | $55.8B |
| FY25 Q1 | $56.2B |
| FY25 Q2 | $57.2B |
| FY25 Q3 | $58.5B |
| FY25 Q4 | $59.4B |
| FY26 Q1 | $60.8B |
| FY26 Q2 | $61.8B |
| FY26 Q3 | $61.8B |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY23 Q4 | 15.4% |
| FY24 Q1 | 15.8% |
| FY24 Q2 | 15.3% |
| FY24 Q3 | 13.2% |
| FY24 Q4 | 12.1% |
| FY25 Q1 | 9.0% |
| FY25 Q2 | 6.8% |
| FY25 Q3 | 7.2% |
| FY25 Q4 | 6.5% |
| FY26 Q1 | 8.2% |
| FY26 Q2 | 8.0% |
| FY26 Q3 | 5.7% |
| Fiscal year | 2009 Dec 2009 | 2010 Dec 2010 | 2011 Dec 2011 | 2012 Dec 2012 | 2013 Dec 2013 | 2014 Dec 2014 | 2015 Dec 2015 | 2016 Dec 2016 | 2017 Dec 2017 | 2018 Dec 2018 | 2019 Dec 2019 | 2020 Dec 2020 | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 | LTM Sept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | ||||||||||||||||||
| Revenue | 15.1 | 16.0 | 16.8 | 17.9 | 19.3 | 19.2 | 19.0 | 31.5 | 32.2 | 32.7 | 34.2 | 36.0 | 40.9 | 43.1 | 49.7 | 55.8 | 59.4 | 61.8 |
| Net income | 2.5 | 3.1 | 1.5 | 2.7 | 3.8 | 2.9 | 2.8 | 4.1 | 3.9 | 4.0 | 4.5 | 3.5 | 8.5 | 5.2 | 9.0 | 9.3 | 10.3 | 11.2 |
| Diluted EPS | $7.55 | $9.04 | $4.52 | $7.89 | $10.92 | $8.42 | $8.62 | $8.87 | $8.19 | $8.49 | $9.71 | $7.79 | $19.24 | $12.39 | $21.80 | $22.70 | $25.68 | $28.57 |
| Growth (year on year) | ||||||||||||||||||
| Revenue | +10.6% | +6.2% | +5.2% | +6.5% | +7.4% | −0.5% | −1.0% | +65.7% | +2.5% | +1.5% | +4.5% | +5.3% | +13.5% | +5.5% | +15.4% | +12.1% | +6.5% | +5.7% |
| Net income | +112.9% | +21.0% | −50.1% | +75.7% | +38.9% | −24.1% | −0.7% | +45.9% | −6.6% | +2.6% | +12.4% | −20.7% | +141.3% | −38.5% | +72.1% | +2.7% | +11.2% | +16.1% |
| Diluted EPS | +115.7% | +19.7% | −50.0% | +74.6% | +38.4% | −22.9% | +2.4% | +2.9% | −7.7% | +3.7% | +14.4% | −19.8% | +147.0% | −35.6% | +75.9% | +4.1% | +13.1% | +19.4% |
| Margins | ||||||||||||||||||
| Net margin | 16.9% | 19.3% | 9.1% | 15.1% | 19.5% | 14.9% | 14.9% | 13.1% | 12.0% | 12.1% | 13.0% | 9.8% | 20.9% | 12.2% | 18.2% | 16.6% | 17.4% | 18.2% |
| Cash flow | ||||||||||||||||||
| Cash from operations | 3.3 | 3.5 | 3.5 | 4.0 | 4.0 | 4.5 | 3.9 | 5.3 | 4.5 | 5.5 | 6.3 | 9.8 | 11.2 | 11.3 | 12.6 | 16.2 | 12.8 | 17.8 |
| Stock-based pay | 0.0 | 0.0 | 0.0 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Balance sheet | ||||||||||||||||||
| Cash | 0.7 | 0.8 | 0.6 | 0.6 | 0.6 | 0.7 | 1.8 | 1.0 | 0.7 | 1.2 | 1.5 | 1.7 | 1.7 | 2.0 | 2.6 | 2.5 | 2.5 | 3.0 |
| Total debt | 3.2 | 4.7 | 4.6 | 4.8 | 5.7 | 4.5 | 9.4 | 13.1 | 12.6 | 12.6 | 14.9 | 14.9 | 16.2 | 14.9 | 14.5 | 15.2 | 17.2 | 18.7 |
| Net debt (negative = net cash) | 2.5 | 3.9 | 4.0 | 4.1 | 5.1 | 3.9 | 7.6 | 12.1 | 11.8 | 11.3 | 13.3 | 13.2 | 14.5 | 12.9 | 11.9 | 12.6 | 14.8 | 15.6 |
| Diluted shares | 338m | 341m | 341m | 343m | 344m | 339m | 329m | 466m | 471m | 467m | 459m | 453m | 443m | 424m | 414m | 408m | 402m | 393m |
| Returned to shareholders | ||||||||||||||||||
| Dividends | 0.4 | 0.4 | 0.5 | 0.8 | 0.5 | 0.9 | 0.9 | 1.2 | 1.3 | 1.3 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.5 | 1.5 |
| Buybacks | — | 0.2 | 0.2 | 0.0 | 0.3 | 1.4 | 0.8 | — | 0.8 | 1.0 | 1.5 | 0.5 | 4.9 | 2.9 | 2.4 | 1.8 | 3.7 | 4.4 |
| Total returned | 0.4 | 0.7 | 0.7 | 0.8 | 0.8 | 2.3 | 1.6 | 1.2 | 2.1 | 2.4 | 2.9 | 1.9 | 6.3 | 4.3 | 3.8 | 3.2 | 5.2 | 6.0 |
| Quarter | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2025 Q3 Sept 2025 | 2025 Q4 Dec 2025 | 2026 Q1 Mar 2026 | 2026 Q2 Jun 2026 | 2026 Q3 Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 14.2 | 13.4 | 14.8 | 16.1 | 15.1 | 14.8 | 15.8 | 16.2 |
| Net income | 2.6 | 1.3 | 3.0 | 2.8 | 3.2 | 2.3 | 2.9 | 2.8 |
| Diluted EPS | $6.32 | $3.29 | $7.35 | $6.99 | $8.07 | $5.88 | $7.30 | $7.30 |
| Growth (year on year) | ||||||||
| Revenue | +9.1% | +3.6% | +7.2% | +8.7% | +6.3% | +10.6% | +6.6% | +0.3% |
| Net income | −22.0% | −37.9% | +33.1% | +20.5% | +24.7% | +74.3% | −3.8% | +1.5% |
| Diluted EPS | −21.1% | −37.1% | +34.6% | +22.6% | +27.7% | +78.7% | −0.7% | +4.4% |
| Margins | ||||||||
| Net margin | 18.2% | 10.0% | 20.0% | 17.3% | 21.3% | 15.7% | 18.0% | 17.6% |
| Cash flow | ||||||||
| Cash from operations | 4.6 | 1.6 | 3.6 | 3.6 | 4.1 | 3.9 | 3.7 | 6.1 |
| Last 12 months unless stated | CB | ALL | TRV | PGR | HIG | ACGL | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $61.8bn | $70.1bn | $48.9bn | $91.7bn | $29.9bn | $19.2bn | $1.7bn |
| Revenue growth, last 12 months | 5.7% | 5.9% | 1.1% | 7.7% | 9.2% | 0.4% | 8.0% |
| Revenue growth, 3-year average | 8.7% | 8.7% | 6.9% | 16.1% | 7.4% | 17.7% | 9.5% |
| Revenue growth, latest quarter | 0.3% | 11.8% | −0.5% | 3.0% | 3.9% | −10.5% | 4.2% |
| Operating margin | — | — | 13.3% | — | 10.3% | — | 9.4% |
| Net margin | 18.2% | 18.9% | 17.0% | 12.7% | 15.4% | 24.4% | 10.5% |
| Cash from operations / revenue | 28.8% | 17.8% | 21.8% | 17.1% | 23.4% | 31.7% | 18.2% |
| Free-cash-flow margin | — | 17.5% | 20.4% | 16.6% | 19.8% | 31.5% | 17.6% |
| Free-cash-flow margin, 3-year average | — | 13.6% | 19.4% | 18.8% | 20.9% | 35.5% | 16.5% |
| Stock pay / revenue | — | — | 0.5% | — | 0.0% | 0.8% | 0.6% |
| Change in share count | −2.8% | −1.9% | −5.6% | −0.4% | −4.0% | −5.0% | −0.7% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | 5.7% | 8.3% | 29 of 48 |
| Change in growth rate Growth | -2.3pp | -0.7pp | 29 of 48 |
| Net margin Profitability | 18.2% | 10.8% | 10 of 48 |
| Change in share count Balance sheet | -2.8% | -0.7% | 11 of 47 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Berkshire Hathaway Inc | $11.7B | 34.2M | 9.8% | 0.0% |
| Blackrock, Inc. | $9.9B | 29.1M | 8.3% | ▲ 4.3% |
| Vanguard Capital Management LLC | $7.9B | 23.2M | 6.7% | ▼ 0.3% |
| State Street Corp | $5.7B | 16.7M | 4.8% | ▲ 0.1% |
| Price T Rowe Associates Inc | $5.2B | 15.3M | 4.4% | ▼ 2.8% |
| FMR LLC | $4.6B | 13.4M | 3.8% | ▲ 9.4% |
| GQG Partners LLC | $4.3B | 12.5M | 3.6% | ▲ 0.4% |
| Geode Capital Management, LLC | $3.1B | 9.1M | 2.6% | ▲ 0.3% |
| Vanguard Portfolio Management LLC | $3B | 8.9M | 2.6% | ▼ 0.4% |
| Wellington Management Group LLP | $2.1B | 6.2M | 1.8% | ▼ 1.8% |
| Massachusetts Financial Services Co | $2B | 5.9M | 1.7% | ▼ 9.6% |
| Capital World Investors | $1.9B | 5.6M | 1.6% | ▼ 7.8% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Chubb Limited's complete shareholder register. Values are as reported by the filers ; 7 inconsistently scaled filing rows were excluded.
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Greenberg Evan G Chairman & CEO | October 29, 2026 | Sell | 13,889 | $360.02 | $5M |
| Boroughs Timothy Alan Executive Vice President* | October 26, 2026 | Sell | 666 | $357.39 | $238,022 |
| Boroughs Timothy Alan Executive Vice President* | October 26, 2026 | Sell | 12,930 | $356.74 | $4.6M |
| Connors Michael P Director | August 21, 2026 | Sell | 5,500 | $345.00 | $1.9M |
| Wayland Joseph F Executive Vice President and* | July 28, 2026 | Sell | 8,502 | $364.54 | $3.1M |
| Ortega Juan Luis Executive Vice President* | June 8, 2026 | Sell | 3,886 | $322.08 | $1.3M |
| Keogh John W President &COO | May 27, 2026 | Sell | 2,824 | $321.95 | $909,185 |
| Keogh John W President &COO | May 27, 2026 | Sell | 20,176 | $321.45 | $6.5M |
| Atieh Michael G Director | May 21, 2026 | Sell | 578 | $329.53 | $190,468 |
| Steimer Olivier Director | March 19, 2026 | Sell | 2,000 | $329.30 | $658,600 |
| Ohsiek George F. Chief Accounting Officer | March 6, 2026 | Sell | 770 | $325.20 | $250,408 |
| Johns Bryce L. Senior Vice President,* | March 4, 2026 | Sell | 1,500 | $336.62 | $504,925 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
In the last 12 months, 5 members of Congress disclosed 5 purchases and 5 sales of Chubb Limited shares.
Next expected around February 2, 2027 estimated from the company's past filing pattern, not announced
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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