Track market-moving stories before they get noisy

Travelers (TRV +0.81%) had an underlying combined ratio of 84.1% in the third quarter of 2026. Chubb (CB -0.78%), a much more diverse insurance company, had a combined ratio of 81.3% in its U.S. business (more on this below). Both companies are generating $0.16 or more per dollar of premiums collected, further enhancing their already strong investment portfolios. If you are a growth-oriented investor, you'll want to take a closer look at each of these industry leaders today.

How do Travelers and Chubb make money? Running an insurance business is actually far more complicated than you may expect. There are really two distinct things going on at the same time. First, there's the insurance operation, and then there's the investment portfolio.

Image source: Getty Images.

On the operations front, insurance companies collect premiums and then pay out claims. The goal is to collect more in premiums, which creates an underwriting profit. The key figure on that front is the combined ratio, which looks at a company's operating costs and claims and compares that to its premiums. A figure below 100% indicates a profit.

In the third quarter of 2026, Travelers had an underlying combined ratio of 84.1%. So, for every $1 of premiums it collected, it kept just about $0.16. Chubb's business is far more diverse: in the U.S., it had a combined ratio of 81.3%; its foreign operations, 86.4%; and its reinsurance business, 80.7%. Depending on the business line you look at, Chubb kept $0.16 or more for every dollar of premiums it collected.

These are solid results, and each of these insurance companies is doing fairly well right now. But the real long-term opportunity comes from the float, which is supported by underwriting profits.

CB Chubb$354.95-$2.80 (-0.78%)

NYSE · As of 4:00 PM ET 10/21/26

The float creates a long-term income stream Insurance premiums are paid up front, but claims are paid further down the road. In between, insurance companies can invest the money. Travelers' investment portfolio is worth $100 billion. Chubb's portfolio is $172 billion.

Both are fairly conservative with their investment portfolios, with a heavy focus on bonds. That's a near-term issue, since bond prices fall when interest rates and yields rise, as they are today. However, insurance companies often hold bonds to maturity, so this may not be as big a long-term problem as it likely seems right now. Meanwhile, Travelers generated nearly $1.1 billion in investment income in the second quarter of 2026, while Chubb's investment income was over $1.7 billion. While both companies have sizable investment operations, their insurance businesses incur much higher costs. If you take a back-of-the-envelope look, investment income accounted for more than half of each company's net income.

TRV Travelers Companies$398.95+$3.22 (+0.81%)

NYSE · As of 4:00 PM ET 10/21/26

Producing an underwriting profit allows the companies to build their investment portfolios and fully benefit from that income. It gives the companies the wherewithal to further expand their operations, which also helps to grow their investment portfolios. At the end of the day, the investment income Travelers and Chubb generate is the long-term flywheel that makes their businesses so attractive. But the funnel starts with strong underwriting results.

Best suited to growth-minded investors Wall Street isn't ignoring the success that Travelers and Chubb have achieved. Both companies are trading at price-to-book ratios above their five-year averages. Value investors probably won't be interested. Their dividend yields are also fairly modest, with both offering just a touch over 1%. Income investors should probably look elsewhere, too.

However, given the strong underwriting results of both Travelers and Chubb, their massive investment portfolios, and their impressive investment income streams, growth investors may want to take a closer look. If they can keep their combined ratios well below 100%, the investment income flywheel should continue to grow over the long term.

Chubb (CB - Free Report) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.

A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.

Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.

Therefore, the Zacks rating upgrade for Chubb basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.

Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Chubb imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.

Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for ChubbThis insurer is expected to earn $27.72 per share for the fiscal year ending December 2026, which represents no year-over-year change.

Analysts have been steadily raising their estimates for Chubb. Over the past three months, the Zacks Consensus Estimate for the company has increased 2.3%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

The upgrade of Chubb to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.

CB's Q3 earnings beat estimates, fueled by record investment income and higher life insurance income, despite rising catastrophe losses pressuring underwriting.

Chubb delivered strong Q3 results, with EPS of $7.66 beating estimates and robust underwriting despite elevated catastrophe losses. CB's diversified business model enables capital allocation to higher-margin segments, supporting stable underwriting results amid premium disinflation. Investment income rose to $1.89B, with a one-time $460M gain expected from an alternatives exit; buybacks and a secure 1.2% yield continue.

Net income was $2.84 billion, up 1.5%, and core operating income was $2.98 billion, down 2.2%. For the nine months, net income and core operating income were a record $8.02 billion and $8.60 billion, respectively, up 12.9% and 21.0%.
P&C net premiums written were $13.18 billion, up 1.9%.

North America Commercial was down 2.7%, or up 1.7% excluding large account property including E&S and financial lines underwriting related exposure changes including additional reinsurance.
North America Personal was up 5.3%.
North America Agriculture was up 5.1%.
Overseas General was up 6.7%, or 5.2% in constant dollars. Consumer insurance was up 7.2% and commercial insurance was up 6.3%; Latin America, Asia and Europe were up 11.7%, 7.5% and 6.8%, respectively.

P&C underwriting income was $2.06 billion, with a combined ratio of 84.1%. P&C current accident year underwriting income excluding catastrophe losses was $2.26 billion, up 3.3%, with a combined ratio of 82.6%. For the nine months, P&C underwriting income was $5.79 billion, up 33.7%, and was $6.39 billion, up 6.1%, on a current accident year excluding catastrophe losses basis. Both were records.
Total pre-tax net catastrophe losses were $705 million compared with $285 million in the prior year.
Total pre-tax favorable prior period development was $511 million compared with $361 million in the prior year.
Life Insurance net premiums written were $1.96 billion, up 1.4%, or 3.7% in constant dollars. International life insurance net premiums written and deposits collected were $2.44 billion, up 15.7%, or 18.6% in constant dollars. Life Insurance segment income was $369 million, up 11.4%, or 14.7% in constant dollars, with International Life income up 7.0%, or 10.9% in constant dollars. For the nine months, Life Insurance segment income was $1.03 billion, up 9.3%, or 10.0% in constant dollars, with International Life income up 10.8%, or 11.8% in constant dollars.
Pre-tax net investment income was $1.79 billion, up 8.6%, and adjusted net investment income was $1.89 billion, up 6.3%. Both were records.
Annualized return on equity (ROE) was 15.3%. Annualized core operating return on tangible equity (ROTE) was 21.6% and annualized core operating ROE was 14.9%.
Book value and tangible book value per share increased 5.1% and 5.7%, respectively, from September 30, 2025. Tangible book value per share excluding AOCI was up 15.4% over the same period.

, /PRNewswire/ -- Chubb Limited (NYSE: CB) today reported net income for the quarter ended September 30, 2026 of $2.84 billion, or $7.30 per share, and core operating income of $2.98 billion, or $7.66 per share. Book value per share and tangible book value per share increased by 5.1% and 5.7%, respectively, from September 30, 2025 and now stand at $191.43 and $126.96. For the last three months, book value was unfavorably impacted by after-tax net realized and unrealized losses of $4.48 billion in Chubb's investment portfolio, partially offset by $551 million of foreign currency gains. Book value per share and tangible book value per share excluding AOCI increased by 11.1% and 15.4% from September 30, 2025.

Effective Q3 2026, segment income and core operating income have been redefined to exclude intangible amortization expenses related to purchased intangibles other than long-term distribution agreements. Refer to "Regulation G – Non-GAAP Financial Measures" in this press release and the Table of Contents page in the Q3 2026 Chubb Limited Financial Supplement for additional information. Prior-period results have been restated to reflect these changes.

Chubb Limited

Third Quarter Summary

(in millions of U.S. dollars, except per share amounts and ratios)

(Unaudited)

(Per Share)

2026

2025

Change

2026

2025

Change

Net income

$2,844

$2,801

1.5 %

$7.30

$6.99

4.4 %

Adjusted net realized (gains) losses, net of tax

94

48

95.8 %

0.25

0.12

108.3 %

Integration expenses and severance, net of tax

8

1

NM

0.02

-

NM

Market risk benefits (gains) losses, net of tax

55

120

(54.2) %

0.14

0.30

(53.3) %

Amortization of deferred tax asset from Bermuda law

(60)

36

NM

(0.15)

0.09

NM

Amortization of fair value adjustments, net of tax

39

42

(7.1) %

0.10

0.10

-

Core operating income, net of tax

$2,980

$3,048

(2.2) %

$7.66

$7.60

0.8 %

Annualized return on equity (ROE)

15.3 %

15.9 %

Core operating return on tangible equity (ROTE)

21.6 %

24.8 %

Core operating ROE

14.9 %

16.6 %

For the nine months ended September 30, 2026, net income was $8.02 billion, or $20.46 per share, and core operating income was $8.60 billion, or $21.94 per share. Book value per share and tangible book value per share increased by 1.5% and 0.6%, from December 31, 2025. For the last nine months, book value was unfavorably impacted by after-tax net realized and unrealized losses of $6.03 billion in Chubb's investment portfolio, partially offset by $643 million of foreign currency gains. Book value per share and tangible book value per share excluding AOCI increased by 7.4% and 10.1%, from December 31, 2025.

Chubb Limited

Nine Months Ended Summary

(in millions of U.S. dollars, except per share amounts and ratios)

(Unaudited)

(Per Share)

2026

2025

Change

2026

2025

Change

Net income

$8,018

$7,100

12.9 %

$20.46

$17.61

16.2 %

Adjusted net realized (gains) losses, net of tax

396

(428)

NM

1.02

(1.06)

NM

Integration expenses and severance, net of tax

21

3

NM

0.05

0.01

NM

Market risk benefits (gains) losses, net of tax

39

213

(81.7) %

0.10

0.53

(81.1) %

Amortization of deferred tax asset from Bermuda law

4

91

(95.6) %

0.01

0.22

(95.5) %

Amortization of fair value adjustments, net of tax

119

127

(6.3) %

0.30

0.31

(3.2) %

Core operating income, net of tax

$8,597

$7,106

21.0 %

$21.94

$17.62

24.5 %

Annualized return on equity (ROE)

14.5 %

13.9 %

Core operating return on tangible equity (ROTE)

21.2 %

19.9 %

Core operating ROE

14.6 %

13.2 %

For the nine months ended September 30, 2026 and 2025, the tax expenses (benefits) related to the table above were $6 million and $47 million, respectively for adjusted net realized gains and losses; $(7) million and nil for integration expenses and severance; $(7) million and $(38) million for market risk benefits gains and losses; $(33) million and $(36) million for amortization of fair value adjustments; and $2.09 billion and $1.75 billion for core operating income.

Evan G. Greenberg, Chairman and Chief Executive Officer of Chubb Limited, commented: "We had a really strong quarter with strong contributions from all of our businesses. Our diversification is highly supportive of growth and sustained margins which speak to our underwriting discipline, a hallmark of our company.

"P&C underwriting, investment and life income results led to core operating earnings of $2.98 billion, or $7.66 per share. Due to particularly light CAT losses last year, earnings are down 2% and up 1% per share from 2025. For the first nine months of the year, which is a more meaningful perspective, core operating income is a record $8.6 billion, or $21.94 per share, up 21% and 24.5%, respectively, from the prior year.

"Annualized core operating return on tangible equity is 21.6% and core operating ROE is 14.9%. Tangible book value per share is up 5.7% from the prior year. This was impacted by the mark-to-market due to higher interest rates. Adjusting for AOCI, tangible book value per share increased 15.4%.

"For the quarter, P&C underwriting income is $2.1 billion, which led to a combined ratio of 84.1%, and on a current accident year ex-CAT basis, our combined ratio is 82.6%, simply excellent. Year-to-date underwriting income of $5.8 billion is up nearly 34% from 2025.

"On the investment side of our business, adjusted net investment income is a record $1.9 billion, supported by rising interest rates and an excellent fixed-income investment environment, which we have been anticipating for some time, given government deficits and the capital investment cycle. On the alternative asset side, as publicly announced in the quarter, Strategic Holdings, our holding company partnership with KKR, agreed to sell our investment in USI Insurance Services to Aon, which is expected to result in a realized gain of $460 million on an investment of $740 million.

"While the market continues to grow more competitive in commercial P&C across the board, particularly in the U.S. and London, the substantial majority of our underwriting businesses grew in the quarter, with the balance flat or purposely shrinking due to inadequate pricing or terms.

"We are benefiting from our diversification. Overseas General grew 6.7%, with Latin America up 11.7%, Asia up 7.5% and Europe up about 7%. North America personal lines was up 5.3% and agriculture was up 5.1%. North America commercial was down 2.7%, impacted by a reduction in exposure, including increased use of reinsurance and underwriting related non-renewal actions, predominantly property and financial lines-related. I fully expect North America commercial growth to improve in future quarters.

"Our deep local presence and capabilities globally, our large and growing invested asset along with rising interest rates, and operating discipline provide us continued growth opportunities and sustainability of value creation. I am confident in our ability to continue to outperform and to generate strong growth in operating earnings and EPS and, most important, double-digit growth in tangible book value."

Operating highlights for the quarter ended September 30, 2026 were as follows:

Chubb Limited

Q3

Q3

(in millions of U.S. dollars except for percentages)

2026

2025

Change

Consolidated

Net premiums written (increase of 1.8% in constant dollars)

$

15,143

$

14,866

1.9 %

P&C

Net premiums written (increase of 1.6% in constant dollars)

$

13,183

$

12,934

1.9 %

Underwriting income

$

2,061

$

2,259

(8.8) %

Combined ratio

84.1 %

81.8 %

Current accident year underwriting income excluding catastrophe losses (CATs)

$

2,255

$

2,183

3.3 %

Current accident year combined ratio excluding CATs

82.6 %

82.5 %

Global P&C (excludes Agriculture)

Net premiums written (increase of 1.1% in constant dollars)

$

11,651

$

11,476

1.5 %

Underwriting income

$

1,894

$

2,079

(8.9) %

Combined ratio

83.4 %

81.0 %

Current accident year underwriting income excluding CATs

$

2,085

$

2,029

2.7 %

Current accident year combined ratio excluding CATs

81.8 %

81.6 %

Life Insurance

Net premiums written (increase of 3.7% in constant dollars)

$

1,960

$

1,932

1.4 %

Segment income (increase of 14.7% in constant dollars)

$

369

$

332

11.4 %

Consolidated net premiums earned increased 3.9%, or 4.0% in constant dollars. P&C net premiums earned increased 4.3%, or 4.0% in constant dollars.
Operating cash flow was $6.07 billion and adjusted operating cash flow was $5.55 billion. Both were records.
Total capital returned to shareholders in the quarter was $1.57 billion, comprising share repurchases of $1.18 billion at an average purchase price of $344.32 per share and dividends of $393 million. Total capital returned to shareholders for the nine months was $4.47 billion, comprising share repurchases of $3.30 billion at an average purchase price of $332.33 per share and dividends of $1.17 billion.

Details of financial results by business segment are available in the Chubb Limited Financial Supplement. Key segment items for the quarter ended September 30, 2026 are presented below:             

Chubb Limited

Q3

Q3

(in millions of U.S. dollars except for percentages)

2026

2025

Change

Total North America P&C Insurance

(Comprising NA Commercial P&C Insurance, NA Personal P&C Insurance and NA Agricultural Insurance)

Net premiums written

$

8,953

$

8,935

0.2 %

Combined ratio

81.3 %

79.2 %

Current accident year combined ratio excluding CATs

80.7 %

80.6 %

North America Commercial P&C Insurance

Net premiums written (increase of 1.7% excluding large account property including E&S and financial lines underwriting related exposure changes including additional reinsurance)

$

5,512

$

5,663

(2.7) %

Major accounts retail and excess and surplus (E&S) wholesale (increase of 1.2% excluding large account property including E&S and financial lines underwriting related exposure changes including additional reinsurance)

$

3,210

$

3,379

(5.0) %

Middle market and small commercial (with P&C lines up 2.6%, or up 4.0% excluding workers' compensation payroll-related premium adjustments (1), and financial lines down 5.9%, or up 1.8% adjusting for underwriting related exposure changes including additional reinsurance)

$

2,302

$

2,284

0.8 %

Combined ratio

86.3 %

81.5 %

Current accident year combined ratio excluding CATs

82.1 %

80.8 %

North America Personal P&C Insurance

Net premiums written

$

1,909

$

1,814

5.3 %

Combined ratio

60.3 %

65.1 %

Current accident year combined ratio excluding CATs

69.9 %

72.1 %

North America Agricultural Insurance

Net premiums written

$

1,532

$

1,458

5.1 %

Combined ratio

89.3 %

88.0 %

Current accident year combined ratio excluding CATs

89.0 %

89.7 %

Overseas General Insurance

Net premiums written (increase of 5.2% in constant dollars)

$

3,943

$

3,695

6.7 %

Commercial P&C

$

2,248

$

2,114

6.3 %

Consumer P&C

$

1,695

$

1,581

7.2 %

Combined ratio

86.4 %

83.3 %

Current accident year combined ratio excluding CATs

84.3 %

84.4 %

Global Reinsurance

Net premiums written

$

287

$

304

(5.6) %

Combined ratio

80.7 %

77.4 %

Current accident year combined ratio excluding CATs

78.7 %

75.6 %

Life Insurance

Net premiums written (increase of 3.7% in constant dollars)

$

1,960

$

1,932

1.4 %

Net premiums written and deposits (increase of 17.7% in constant dollars)

$

2,797

$

2,428

15.2 %

Segment income (increase of 14.7% in constant dollars)

$

369

$

332

11.4 %

(1) Relates to workers' compensation annual payroll-related audit premium adjustments which are made in the third quarter every year, as previously disclosed were significantly larger in 2025.

North America Commercial P&C Insurance: The combined ratio increased 4.8 percentage points, including a 3.1 percentage point increase from higher CATs, a 1.0 percentage point increase in the underlying loss ratio and a 0.3 percentage point increase in the underlying expense ratio with the acquisition ratio up, both driven by shift in mix of business, primarily due to reduction in property business.
North America Personal P&C Insurance: The combined ratio decreased 4.8 percentage points, including a 4.3 percentage point decrease from higher favorable prior period development (PPD) and a 2.2 percentage point decrease in the underlying loss ratio, partially offset by a 1.7 percentage point increase from higher CATs.
North America Agricultural Insurance: The combined ratio increased 1.3 percentage points, including a 1.9 percentage point increase from lower favorable PPD, partially offset by a 0.6 percentage point decrease in the underlying expense ratio.
Overseas General Insurance: The combined ratio increased 3.1 percentage points, including a 5.0 percentage point increase from higher CATs and a 1.0 percentage point increase in the underlying acquisition expense ratio, due to shift in the mix of business, offset by a 1.8 percentage point decrease from higher favorable PPD, and a 0.9 percentage point decrease in the underlying loss ratio.
Life Insurance: Net premiums written were $1.96 billion, up 1.4%, or 3.7% in constant dollars, with International Life of $1.60 billion, down 0.6%, or up 2.0% in constant dollars, reflecting an adverse impact of 8.8 percentage points in constant dollars, from a one-time large transaction in the prior year, and Chubb Benefits up 11.7%, or 12.1% in constant dollars. International life net premiums written and deposits collected were $2.44 billion, up 15.7%, or 18.6% in constant dollars. Life Segment income was $369 million, up 11.4%, or 14.7% in constant dollars, primarily reflecting growth in International Life of 7.0%, or 10.9% in constant dollars.

All comparisons are with the same period last year unless otherwise specifically stated.
Please refer to the Chubb Limited Financial Supplement, dated September 30, 2026, which is posted on Chubb's investor relations website, investors.chubb.com, in the Financials section for more detailed information on individual segment performance, together with additional disclosure on reinsurance recoverable, loss reserves, investment portfolio, and debt and capital.

Chubb Limited will hold its third quarter earnings conference call on Wednesday, October 21, 2026, at 8:30 a.m. Eastern. The earnings conference call will be available via live webcast at investors.chubb.com or by dialing 877-400-4403 (within the United States) or 332-251-2601 (international), passcode 1641662. Please refer to the Chubb website under Events and Presentations for details. A replay will be available after the call at the same location. To listen to the replay, click here to register and receive dial-in numbers.

In this release, business activity for, and the financial position of, Chubb acquisitions are reported at 100%, as required, except for core operating income, net income, book value, tangible book value, ROE, per share data, and certain other key metrics, which include only Chubb's ownership interest and exclude the non-controlling interest.

Segment income and core operating income for current and prior periods have been redefined to reflect the definition of segment income and core operating income adopted in Q3 2026, which excludes intangible amortization expenses related to purchased intangibles other than long-term distribution agreements. Refer to "Regulation G – Non-GAAP Financial Measures" below for more information.

About Chubb
Chubb is a world leader in insurance. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb employs approximately 45,000 people worldwide. Additional information can be found at: www.chubb.com.

Regulation G – Non-GAAP Financial Measures

In presenting our results, we included and discussed certain non-GAAP measures. These non-GAAP measures, which may be defined differently by other companies, are important for an understanding of our overall results of operations and financial condition. However, they should not be viewed as a substitute for measures determined in accordance with generally accepted accounting principles (GAAP).

Throughout this document there are various measures presented on a constant-dollar basis (i.e., excludes the impact of foreign exchange). We believe it is useful to evaluate the trends in our results exclusive of the effect of fluctuations in exchange rates between the U.S. dollar and the currencies in which our international business is transacted, as these exchange rates could fluctuate significantly between periods and distort the analysis of trends. The impact is determined by assuming constant foreign exchange rates between periods by translating prior period results using the same local currency exchange rates as the comparable current period.

Adjusted net investment income is net investment income excluding the amortization of the fair value adjustment on acquired invested assets from certain acquisitions of nil in Q3 2026 and $1 million in Q3 2025, and including investment income of $97 million and $127 million in Q3 2026 and Q3 2025, from partially owned investment companies (private equity partnerships) where our ownership interest is in excess of 3% that are accounted for under the equity method. The amortization of the fair value adjustment on acquired invested assets was $3 million and $7 million for the nine months ended September 30, 2026 and 2025, and the investment income from private equity partnerships was $343 million and $349 million for the nine months ended September 30, 2026 and 2025. The mark-to-market movement on these private equity partnerships are included in adjusted net realized gains (losses) as described below. We believe this measure is meaningful as it highlights the underlying performance of our invested assets and portfolio management in support of our lines of business.

Adjusted net realized gains (losses), net of tax, includes net realized gains (losses) and net realized gains (losses) recorded in other income (expense) related to unconsolidated subsidiaries, and excludes realized gains and losses on crop derivatives and realized gains and losses on underlying investments supporting the liabilities of certain participating policies related to the policyholders' share of gains and losses. The crop derivatives were purchased to provide economic benefit, in a manner similar to reinsurance protection, in the event that a significant decline in commodity pricing impacts underwriting results. We view gains and losses on these derivatives as part of the results of our underwriting operations, and therefore realized gains (losses) from these derivatives are reclassified to adjusted losses and loss expenses. The realized gains and losses on underlying investments supporting the liabilities of certain participating policies have been reclassified from net realized gains (losses) to adjusted policy benefits. We believe this better reflects the economics of the liabilities and the underlying investments supporting those liabilities.

P&C underwriting income (loss) excludes the Life Insurance segment and is calculated by subtracting adjusted losses and loss expenses, adjusted policy benefits, policy acquisition costs and administrative expenses from net premiums earned. We use underwriting income (loss) and operating ratios to monitor the results of our operations without the impact of certain factors, including net investment income, other income (expense), interest expense, amortization expense of purchased intangibles, integration expenses and severance, amortization of fair value adjustments of acquired invested assets and long-term debt, income tax expense, adjusted net realized gains (losses), and market risk benefits gains (losses).

P&C current accident year underwriting income excluding catastrophe losses is P&C underwriting income adjusted to exclude P&C catastrophe losses and prior period development (PPD). We believe it is useful to exclude catastrophe losses, as they are not predictable as to timing and amount, and PPD as these unexpected loss developments on historical reserves are not indicative of our current underwriting performance. We believe the use of these measures enhances the understanding of our results of operations by highlighting the underlying profitability of our insurance business. References in this release to "current accident year" or "underlying" metrics exclude catastrophe losses and prior period development, unless stated otherwise.

Core operating income relates only to Chubb income, which excludes noncontrolling interests. It excludes from Chubb net income the after-tax impact of adjusted net realized gains (losses), market risk benefits gains (losses), amortization of fair value adjustments, and other items described in this paragraph. We believe this presentation enhances the understanding of our results of operations by highlighting the underlying profitability of our insurance business. We exclude adjusted net realized gains (losses) and market risk benefits gains (losses) because the amount of these gains (losses) is heavily influenced by, and fluctuates in part according to, the availability of market opportunities. In addition, we believe that amortization of certain fair value adjustments arising from the application of acquisition method accounting to acquired businesses does not represent the associated true economic costs and also affects comparability of our operating results to peers. We therefore exclude amortization of fair value adjustments, which includes amortization expenses of fair value adjustments on purchased invested assets, long-term debt, and certain intangible assets acquired through business combinations (primarily agency distribution relationships and renewal rights); in contrast, amortization expenses associated with value of business acquired (VOBA) and unearned premium reserves (UPR) intangible assets are included in core operating income as they are generally comparable to underwriting expenses recognized by peers. We also exclude integration expenses, including legal and professional fees and all other costs directly related to acquisition integration activities, as well as severance expenses associated with transformation initiatives to enhance operational efficiency. These costs, as well as the amortization of fair value adjustments on purchased invested assets, long-term debt, and certain intangible assets acquired through business combinations, are not related to the ongoing activities of the individual segments and are therefore included in Corporate and excluded from our definition of segment income. We believe these integration expenses and severance are not indicative of our underlying profitability, and excluding these integration expenses and severance facilitates the comparison of our financial results to our historical operating results. Additionally, we exclude the amortization of the deferred tax asset related to the tax benefit from the Bermuda Economic Transition Adjustment, which we believe provides investors with a better view of our operating performance, enhances the understanding of the trends in the underlying business, improves comparability between periods and provides increased transparency. References to core operating income measures mean net of tax, whether or not noted.

Core operating return on equity (ROE) and Core operating return on tangible equity (ROTE) are annualized non-GAAP financial measures. The numerator includes core operating income (loss), net of tax. The denominator includes the average Chubb shareholders' equity for the period adjusted to exclude unrealized gains (losses) on investments, current discount rate on future policy benefits (FPB), and instrument-specific credit risk on market risk benefits (MRB), all net of tax and attributable to Chubb. For the ROTE calculation, the denominator is also adjusted to exclude Chubb goodwill and other intangible assets, net of tax. These measures enhance the understanding of the return on shareholders' equity by highlighting the underlying profitability relative to shareholders' equity and tangible equity excluding the effect of these items as these are heavily influenced by changes in market conditions. We believe ROTE is meaningful because it measures the performance of our operations without the impact of goodwill and other intangible assets.

P&C combined ratio is the sum of the loss and loss expense ratio, acquisition cost ratio and the administrative expense ratio excluding the life business and including the realized gains and losses on the crop derivatives, as noted above.

P&C current accident year combined ratio excluding catastrophe losses excludes the impact of P&C catastrophe losses and PPD from the P&C combined ratio. We believe this measure provides a useful evaluation of our underwriting performance and enhances the understanding of the trends in our P&C business that may be obscured by these items.

Global P&C performance metrics comprise consolidated operating results (including corporate) and exclude the operating results of Chubb's Life Insurance and North America Agricultural Insurance segments. The agriculture insurance business is a different business in that it is a public sector and private sector partnership in which insurance rates, premium growth, and risk-sharing is not market-driven like the remainder of Chubb's P&C insurance business. We believe that these measures are useful and meaningful to investors as they are used by management to assess Chubb's global P&C operations which are the most economically similar. We exclude the North America Agricultural Insurance and Life Insurance segments because the results of these businesses do not always correlate with the results of our global P&C operations.

Tangible book value per common share is Chubb shareholders' equity less Chubb goodwill and other intangible assets, net of tax, divided by the shares outstanding. We believe that goodwill and other intangible assets are not indicative of our underlying insurance results or trends and make book value comparisons to less acquisitive peer companies less meaningful.

Book value per share and tangible book value per share excluding accumulated other comprehensive income (loss) (AOCI), excludes AOCI from the numerator because it eliminates the effect of items that can fluctuate significantly from period to period, primarily based on changes in interest rates and foreign currency movement, to highlight underlying growth in book and tangible book value.

Adjusted operating cash flow is Operating cash flow excluding the operating cash flow related to the net investing activities of Huatai's asset management companies as it relates to the Consolidated Investment Products as required under consolidation accounting. Because these entities are investment companies, we are required to retain the investment company presentation in our consolidated results, which means we include the net investing activities of these entities in our operating cash flows. Chubb has elected to remove the impact of net investing activities of consolidated investment companies from our operating cash flow as they may distort a reader's analysis of our underlying operating cash flow related to the core insurance company operations. These net investing activities are more appropriately classified outside of operating cash flows, consistent with our consolidated investing activities. Accordingly, we believe that it is appropriate to adjust operating cash flow for the impact of consolidated investment products.

Life Insurance and International life insurance net premiums written and deposits collected includes deposits collected on universal life and investment contracts (life deposits). Life deposits are not reflected as revenues in our consolidated statements of operations in accordance with U.S. GAAP. However, we include life deposits in presenting growth in our life insurance business because life deposits are an important component of production and key to our efforts to grow our business.

See the reconciliation of Non-GAAP Financial Measures on pages 27-33 in the Financial Supplement. These measures should not be viewed as a substitute for measures determined in accordance with GAAP, including premium, net income, book value, return on equity, and net investment income.

NM – not meaningful comparison

Cautionary Statement Regarding Forward-Looking Statements: 
Forward-looking statements made in this press release, such as those related to company performance, pricing, growth opportunities, economic and market conditions, and our expectations and intentions and other statements that are not historical facts, reflect our current views with respect to future events and financial performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that could cause actual results to differ materially, including without limitation, the following: competition, pricing and policy term trends, the levels of new and renewal business achieved, the frequency and severity of unpredictable catastrophic events, actual loss experience, uncertainties in the reserving or settlement process, integration activities and performance of acquired companies, loss of key employees or disruptions to our operations, new theories of liability, judicial, legislative, regulatory and other governmental developments, litigation tactics and developments, investigation developments and actual settlement terms, the amount and timing of reinsurance recoverable, credit developments among reinsurers, rating agency action, possible terrorism or the outbreak and effects of war, economic, political, regulatory, insurance and reinsurance business conditions, potential strategic opportunities including acquisitions and our ability to achieve them, as well as management's response to these factors, and other factors identified in our filings with the Securities and Exchange Commission (SEC). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Chubb Limited

Summary Consolidated Balance Sheets

(in millions of U.S. dollars, except per share data)

(Unaudited)

September 30

2026

December 31
2025

Assets

Investments

$

172,507

$

168,720

Cash and restricted cash

3,010

2,470

Total invested assets

175,517

171,190

Insurance and reinsurance balances receivable

18,188

15,944

Reinsurance recoverable on losses and loss expenses

20,611

20,338

Goodwill and other intangible assets ($26,021 and $25,775 represents
Chubb portion as of 9/30/2026 and 12/31/2025, respectively)

26,665

26,448

Other assets

42,528

38,407

Total assets

$

283,509

$

272,327

Liabilities

Unpaid losses and loss expenses

$

91,829

$

88,018

Unearned premiums

28,608

26,279

Other liabilities

84,560

78,251

Total liabilities

204,997

192,548

Shareholders' equity

Chubb shareholders' equity, excl. AOCI

82,710

78,732

Accumulated other comprehensive income (loss) (AOCI)

(9,483)

(4,975)

Chubb shareholders' equity

73,227

73,757

Noncontrolling interests

5,285

6,022

Total shareholders' equity

78,512

79,779

Total liabilities and shareholders' equity

$

283,509

$

272,327

Book value per common share

$

191.43

$

188.59

Tangible book value per common share

$

126.96

$

126.22

Book value per common share, excl. AOCI

$

216.22

$

201.31

Tangible book value per common share, excl. AOCI

$

150.70

$

136.91

Chubb Limited

Summary Consolidated Financial Data

(in millions of U.S. dollars, except share, per share data, and ratios)

(Unaudited)

Three Months Ended

Nine Months Ended

September 30

September 30

2026

2025

2026

2025

Gross premiums written

$

18,359

$

18,069

$

52,857

$

50,450

Net premiums written

15,143

14,866

43,853

41,708

Net premiums earned

14,924

14,359

42,270

39,484

Losses and loss expenses

7,526

6,951

20,348

20,419

Policy benefits

1,477

1,372

4,877

4,005

Policy acquisition costs

2,739

2,563

7,967

7,291

Administrative expenses

1,126

1,138

3,443

3,343

Net investment income

1,791

1,648

5,260

4,777

Net realized gains (losses)

(455)

283

(700)

327

Market risk benefits gains (losses)

(65)

(142)

(46)

(251)

Interest expense

204

197

602

559

Other income (expense):

Gains (losses) from separate account assets

(24)

(9)

27

(31)

Other

388

52

694

812

Amortization of purchased intangibles

74

75

221

224

Integration expenses and severance

11

1

28

3

Income tax expense

666

787

2,054

1,825

Net income

$

2,736

$

3,107

$

7,965

$

7,449

Less: NCI income (loss)

(108)

306

(53)

349

Chubb net income

$

2,844

$

2,801

$

8,018

$

7,100

Diluted earnings per share:

Chubb net income

$

7.30

$

6.99

$

20.46

$

17.61

Core operating income

$

7.66

$

7.60

$

21.94

$

17.62

Weighted average shares outstanding

389.4

400.9

391.8

403.2

P&C combined ratio

Loss and loss expense ratio

58.7 %

56.7 %

57.1 %

60.8 %

Policy acquisition cost ratio

18.3 %

17.7 %

19.1 %

18.5 %

Administrative expense ratio

7.1 %

7.4 %

7.8 %

8.0 %

P&C combined ratio

84.1 %

81.8 %

84.0 %

87.3 %

P&C underwriting income

$

2,061

$

2,259

$

5,790

$

4,331

SOURCE Chubb Limited

SteelPeak Wealth LLC grew its holdings in shares of Chubb Limited (NYSE: CB) by 696.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,291 shares of the financial services provider's stock after buying an additional 8,124 shares during the

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Chubb (CB - Free Report) , which belongs to the Zacks Insurance - Property and Casualty industry, could be a great candidate to consider.

This insurer has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 7.37%.

For the most recent quarter, Chubb was expected to post earnings of $6.63 per share, but it reported $7.26 per share instead, representing a surprise of 9.50%. For the previous quarter, the consensus estimate was $6.48 per share, while it actually produced $6.82 per share, a surprise of 5.25%.

Price and EPS Surprise

For Chubb, estimates have been trending higher, thanks in part to this earnings surprise history. And when you look at the stock's positive Zacks Earnings ESP (Expected Surprise Prediction), it's a great indicator of a future earnings beat, especially when combined with its solid Zacks Rank.

Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Chubb currently has an Earnings ESP of +3.98%, which suggests that analysts have recently become bullish on the company's earnings prospects. This positive Earnings ESP when combined with the stock's Zacks Rank #3 (Hold) indicates that another beat is possibly around the corner. We expect the company's next earnings report to be released on October 20, 2026.

When the Earnings ESP comes up negative, investors should note that this will reduce the predictive power of the metric. But, a negative value is not indicative of a stock's earnings miss.

Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.

Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Copeland Capital Management LLC purchased a new stake in Chubb Limited (NYSE:CB – Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,453 shares of the financial services provider’s stock, valued at approximately $798,000.

A number of other hedge funds have also modified their holdings of CB. Stock Yards Bank & Trust Co. boosted its position in shares of Chubb by 0.8% during the first quarter. Stock Yards Bank & Trust Co. now owns 4,105 shares of the financial services provider’s stock worth $1,338,000 after purchasing an additional 34 shares in the last quarter. Baker Tilly Wealth Management LLC increased its position in shares of Chubb by 4.9% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 722 shares of the financial services provider’s stock valued at $235,000 after buying an additional 34 shares in the last quarter. Bayban increased its position in shares of Chubb by 7.1% in the 1st quarter. Bayban now owns 544 shares of the financial services provider’s stock valued at $177,000 after buying an additional 36 shares in the last quarter. Cypress Capital Group increased its position in shares of Chubb by 3.4% in the 1st quarter. Cypress Capital Group now owns 1,101 shares of the financial services provider’s stock valued at $359,000 after buying an additional 36 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in Chubb by 0.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 8,544 shares of the financial services provider’s stock worth $2,911,000 after buying an additional 36 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chubb In other news, Director Michael P. Connors sold 5,500 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the transaction, the director directly owned 12,803 shares in the company, valued at $4,417,035. This represents a 30.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Joseph Wayland sold 8,502 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the completion of the transaction, the executive vice president owned 33,749 shares of the company’s stock, valued at $12,302,860.46. The trade was a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is currently owned by insiders.

Chubb Trading Up 1.1% NYSE CB opened at $350.05 on Thursday. The stock has a market capitalization of $135.05 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.52 and a beta of 0.36. The stock’s 50 day moving average price is $340.26 and its two-hundred day moving average price is $335.98. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. Chubb Limited has a 52 week low of $265.30 and a 52 week high of $365.91. Chubb (NYSE:CB – Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. The firm had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%. The business’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.14 EPS. As a group, analysts anticipate that Chubb Limited will post 27.68 earnings per share for the current fiscal year.

Chubb Announces Dividend The firm also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were given a $1.02 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb’s dividend payout ratio (DPR) is 14.43%.

Analysts Set New Price Targets A number of research analysts have issued reports on CB shares. Morgan Stanley decreased their target price on Chubb from $360.00 to $350.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 6th. Weiss Ratings downgraded Chubb from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, October 2nd. Citigroup reaffirmed a “market outperform” rating on shares of Chubb in a research report on Wednesday, July 22nd. The Goldman Sachs Group lifted their price objective on Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Finally, Atlantic Securities set a $301.00 price objective on Chubb in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $358.36.

View Our Latest Stock Report on Chubb

About Chubb (Free Report)

Chubb Limited (NYSE: CB) is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings serve individuals, businesses, multinational corporations, and institutional customers.

The company provides commercial and personal property and casualty coverage, including general liability, commercial property, professional liability, cyber insurance, workers’ compensation, homeowners insurance, automobile coverage, and specialty insurance.

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NorthCrest Asset Manangement LLC increased its position in Chubb Limited (NYSE:CB – Free Report) by 85.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,758 shares of the financial services provider’s stock after buying an additional 46,025 shares during the quarter. Chubb accounts for approximately 0.8% of NorthCrest Asset Manangement LLC’s holdings, making the stock its 24th biggest holding. NorthCrest Asset Manangement LLC’s holdings in Chubb were worth $32,446,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CB. XXEC Inc. purchased a new position in shares of Chubb in the second quarter valued at about $228,226,000. Berkshire Hathaway Inc boosted its holdings in shares of Chubb by 9.3% during the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock worth $10,689,855,000 after purchasing an additional 2,916,288 shares during the period. BlackRock Inc. purchased a new stake in shares of Chubb during the second quarter worth about $9,913,336,000. GQG Partners LLC bought a new stake in shares of Chubb in the second quarter worth about $4,250,113,000. Finally, Bank of America Corp DE grew its stake in shares of Chubb by 3.1% in the first quarter. Bank of America Corp DE now owns 4,908,624 shares of the financial services provider’s stock worth $1,599,868,000 after purchasing an additional 147,876 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Chubb Stock Performance Shares of CB opened at $345.12 on Tuesday. The company has a 50-day simple moving average of $340.36 and a two-hundred day simple moving average of $335.64. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $133.15 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.50 and a beta of 0.36. Chubb Limited has a one year low of $265.30 and a one year high of $365.91.

Chubb (NYSE:CB – Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.77 by $0.49. The firm had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.14 EPS. On average, analysts anticipate that Chubb Limited will post 27.68 EPS for the current fiscal year. Chubb Announces Dividend The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were issued a $1.02 dividend. The ex-dividend date was Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb’s dividend payout ratio is 14.43%.

Insiders Place Their Bets In other Chubb news, Director Michael Connors sold 5,500 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the transaction, the director owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the sale, the executive vice president owned 33,749 shares in the company, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes A number of research firms have commented on CB. Cantor Fitzgerald upped their price target on Chubb from $330.00 to $333.00 and gave the company a “neutral” rating in a research report on Wednesday, October 7th. HSBC reiterated a “hold” rating and issued a $359.00 price objective on shares of Chubb in a research report on Wednesday, October 7th. Evercore reissued an “outperform” rating and set a $374.00 target price on shares of Chubb in a research note on Friday, July 10th. Morgan Stanley decreased their target price on Chubb from $360.00 to $350.00 and set an “equal weight” rating for the company in a report on Tuesday, October 6th. Finally, Piper Sandler raised their price target on Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $358.36.

Read Our Latest Report on Chubb

Chubb Profile (Free Report)

Chubb Limited (NYSE: CB) is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings serve individuals, businesses, multinational corporations, and institutional customers.

The company provides commercial and personal property and casualty coverage, including general liability, commercial property, professional liability, cyber insurance, workers’ compensation, homeowners insurance, automobile coverage, and specialty insurance.

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Chubb (CB - Free Report) closed at $345.06 in the latest trading session, marking a +1.13% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.06%. Elsewhere, the Dow saw an upswing of 0.38%, while the tech-heavy Nasdaq depreciated by 0.44%.

Prior to today's trading, shares of the insurer had gained 0.87% outpaced the Finance sector's loss of 2.69% and lagged the S&P 500's gain of 2.36%.

The upcoming earnings release of Chubb will be of great interest to investors. The company's earnings report is expected on October 20, 2026. The company is predicted to post an EPS of $6.29, indicating a 16.02% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $16.72 billion, up 3.62% from the prior-year quarter.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $27.69 per share and a revenue of $64.15 billion, representing changes of +11.7% and +6.98%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for Chubb. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.22% higher. Chubb is currently a Zacks Rank #3 (Hold).

In terms of valuation, Chubb is presently being traded at a Forward P/E ratio of 12.32. This represents a premium compared to its industry average Forward P/E of 10.87.

One should further note that CB currently holds a PEG ratio of 1.5. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Insurance - Property and Casualty industry stood at 1.84 at the close of the market yesterday.

The Insurance - Property and Casualty industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 26% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

Chubb (CB - Free Report) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.

Shares of this insurer have returned -0.9% over the past month versus the Zacks S&P 500 composite's +1.4% change. The Zacks Insurance - Property and Casualty industry, to which Chubb belongs, has lost 2.3% over this period. Now the key question is: Where could the stock be headed in the near term?

Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.

Earnings Estimate RevisionsRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.

We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For the current quarter, Chubb is expected to post earnings of $6.29 per share, indicating a change of -16% from the year-ago quarter. The Zacks Consensus Estimate has changed +0.1% over the last 30 days.

The consensus earnings estimate of $27.41 for the current fiscal year indicates a year-over-year change of +10.6%. This estimate has changed +0.2% over the last 30 days.

For the next fiscal year, the consensus earnings estimate of $28.78 indicates a change of +5% from what Chubb is expected to report a year ago. Over the past month, the estimate has changed -0.4%.

Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Chubb is rated Zacks Rank #3 (Hold).

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Revenue Growth ForecastEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.

For Chubb, the consensus sales estimate for the current quarter of $16.76 billion indicates a year-over-year change of +3.9%. For the current and next fiscal years, $64.15 billion and $66.79 billion estimates indicate +7% and +4.1% changes, respectively.

Last Reported Results and Surprise HistoryChubb reported revenues of $15.77 billion in the last reported quarter, representing a year-over-year change of +6.5%. EPS of $7.26 for the same period compares with $6.14 a year ago.

Compared to the Zacks Consensus Estimate of $15.9 billion, the reported revenues represent a surprise of -0.8%. The EPS surprise was +9.5%.

The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates three times over this period.

ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.

Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.

The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Chubb is graded B on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Chubb. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.

Chubb (CB - Free Report) closed the most recent trading day at $334.21, moving +1.13% from the previous trading session. The stock's change was more than the S&P 500's daily gain of 0.58%. Meanwhile, the Dow gained 0.49%, and the Nasdaq, a tech-heavy index, added 0.45%.

Shares of the insurer have depreciated by 3.25% over the course of the past month, outperforming the Finance sector's loss of 4.49%, and lagging the S&P 500's gain of 0.84%.

Investors will be eagerly watching for the performance of Chubb in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 20, 2026. In that report, analysts expect Chubb to post earnings of $6.26 per share. This would mark a year-over-year decline of 16.42%. Simultaneously, our latest consensus estimate expects the revenue to be $16.71 billion, showing a 3.59% escalation compared to the year-ago quarter.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $27.39 per share and a revenue of $64.15 billion, signifying shifts of +10.49% and +6.98%, respectively, from the last year.

Any recent changes to analyst estimates for Chubb should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 0.13% rise in the Zacks Consensus EPS estimate. At present, Chubb boasts a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Chubb has a Forward P/E ratio of 12.07 right now. This indicates a premium in contrast to its industry's Forward P/E of 10.93.

It's also important to note that CB currently trades at a PEG ratio of 1.46. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. CB's industry had an average PEG ratio of 1.8 as of yesterday's close.

The Insurance - Property and Casualty industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 73, placing it within the top 30% of over 250 industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

Key Takeaways Chubb launches an online platform offering Personal Accident and Leisure Travel insurance to UK employees.Chubb Benefits grew 17% in 2025 and generated $1.2 billion in premiums, providing a base for expansion.CB has not disclosed premium or revenue targets, leaving the platform's near-term contribution uncertain. Chubb Limited (CB - Free Report) is expanding its employee-benefits business in the UK with the launch of Flexible Benefits Direct, an online platform that allows employers to offer Chubb’s Personal Accident and Leisure Travel insurance directly to employees.

The move strengthens Chubb’s distribution capabilities and could help the company reach more employers and employees through a simpler online channel. It also aligns with Chubb’s broader focus on expanding digital distribution and making insurance products easier for customers to access and purchase.

Chubb’s employee-benefits business provides a meaningful base for further expansion. Chubb Benefits grew 17% in 2025 and generated $1.2 billion in premiums, highlighting the business’s scale. The new platform could support further growth by improving access to employers, increasing policy adoption and creating another channel for premium generation.

The initiative could also help Chubb reach smaller and mid-sized employers that may be less accessible through traditional distribution channels. If successful, the digital model could be expanded to other markets and insurance products.

However, Chubb has not disclosed a specific premium or revenue target for Flexible Benefits Direct, so its near-term financial contribution remains uncertain. Overall, the launch strengthens Chubb’s digital insurance strategy and could support employee-benefits premium growth as insurance distribution becomes increasingly digital.

What About Its Peers?Aflac Incorporated (AFL - Free Report) has a strong presence in supplemental and worksite insurance. In 2026, it became a strategic Workday Wellness partner, integrating its supplemental health products with Workday’s AI-driven benefits platform to simplify access and benefits administration.

MetLife, Inc. (MET - Free Report) offers a broad range of employee benefits, including accident, disability and life insurance. In July 2026, it joined Rippling’s Preferred Carrier Program, enabling direct integration of eligibility, enrollment and coverage data and supporting more efficient benefits administration.

Chubb's Price PerformanceChubb shares have gained 15.5% in the past year, outperforming the industry’s 1.3% decline.

Image Source: Zacks Investment Research

CB’s ValuationShares of CB are trading at a premium compared with the industry. Its trailing 12-month price-to-book value of 1.58X is higher than the industry average of 1.37X.

Image Source: Zacks Investment Research

CB’s Growth ProjectionThe Zacks Consensus Estimate for Chubb’s 2026 earnings per share (EPS) indicates a year-over-year increase of 10.5%.

The consensus estimate for revenues is pegged at $64.33 billion, implying a 7.3% year-over-year improvement.

The consensus estimate for 2027 EPS and revenues indicates an increase of 5.7% and 4.1%, respectively, from the corresponding 2026 estimates.

The Zacks Consensus Estimate for 2026 and 2027 earnings has moved up 0.1%, respectively, over the past 30 days.

Image Source: Zacks Investment Research

CB stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

On CNBC’s “Halftime Report Final Trades,” Joshua Brown, co-founder and CEO of Ritholtz Wealth Management, picked Snowflake Inc. (NYSE:SNOW).

Snowflake announced Wednesday that LSEG expanded its collaboration with the company under a new five-year, enterprise-wide agreement.

Bill Baruch, founder and CIO of both Blue Line Capital, an investment advisor, and Blue Creek Capital Management, named Micron Technology, Inc. (NASDAQ:MU) following the release of quarterly earnings.

Micron, on Wednesday, reported upbeat financial results for the fourth quarter of fiscal 2026. Micron posted fourth-quarter revenue of $54.23 billion, beating analyst estimates of $50.75 billion, according to Benzinga Pro. The semiconductor company reported adjusted earnings of $33.42 per share, beating estimates of $31.45 per share.

Don’t forget to check out our premarket coverage here

Sarat Sethi, DCLA managing partner, recommended Morgan Stanley (NYSE:MS).

Morgan Stanley will release its third-quarter earnings report before the opening bell on Wednesday, Oct. 14. Analysts expect the company to report quarterly earnings of $3.10 per share, up from $2.80 per share in the year-ago period. The consensus estimate for Morgan Stanley’s quarterly revenue is $20.52 billion. It reported $18.22 billion last year.

Malcolm Ethridge, managing partner at Capital Area Planning Group, named Chubb Limited (NYSE:CB) as his final trade.

Chubb will hold its third-quarter earnings conference call on Wednesday, Oct. 21. Analysts expect the company to post quarterly earnings at $6.43 per share on revenue of $13.47 billion.

Price Action:

Snowflake shares gained 0.7% to close at $341.99 on Thursday. Micron jumped 3% to settle at $1,097.39 on Thursday. Morgan Stanley shares slipped 0.1% to close at $188.01 during the session. Chubb shares gained 1.9% to settle at $331.30 on Thursday. Image via Gorodenkoff/Shutterstock

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ZÜRICH, Sept. 30, 2026 /PRNewswire/ -- Chubb Limited (NYSE: CB) will hold its third quarter earnings conference call on Wednesday, October 21, 2026, at 8:30 a.m.

When Treasury yields sit near five-year highs, property and casualty insurers collect a quiet windfall that most income investors overlook entirely. Four dividend-raising giants are turning that structural tailwind into something much more durable than a rate-cycle trade.

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Property and casualty insurers earn money two ways: from underwriting policies at a profit, and from investing the premiums they collect before claims are paid, a pool the industry calls the “float.” When long rates stay high, that float earns more each quarter as bonds roll into higher yields. With the 10-Year Treasury yield at 4.96% as of September 22, 2026, sitting in the 97th percentile of its trailing one-year range, four P&C names are turning that tailwind into a durable income story: Chubb, Travelers, Cincinnati Financial, and Allstate.

Chubb: Record Investment Income Feeding a Rising Payout Chubb (NYSE:CB | CB Price Prediction) pays a quarterly dividend of $1.02, with an annualized forward payout of $4.08 per share. The most recent step up came this year: the quarterly rate moved from $0.97 to $1.02 in the second quarter of 2026, extending an increase pattern the dividend record shows every year from 2016 through 2026.

Dividend safety here is anchored by capital generation. In the most recent quarter, Chubb delivered record adjusted net investment income of $1.88 billion, up more than 11% year over year, with a fixed-income book yield of 5.1% and a new-money reinvestment rate averaging 5.5% as of June 30. That gap is the high-rate thesis in one line. Underwriting is equally sturdy: an 83.8 consolidated combined ratio and $3.5 billion of adjusted operating cash flow in the quarter. The balance sheet holds book value at an all-time high of $75 billion, or $195.45 per share. Dividends took just $395 million of the $1.4 billion returned to shareholders in the quarter, leaving ample coverage.

The bull case is simple. Chubb is compounding book value while reinvesting a growing float above its embedded yield, and management explicitly guides to continued double-digit EPS and tangible book value growth in 2026. Risk: the pricing cycle is turning. Property pricing declined about 6% in North America commercial, with rates down 10.5%, and Chubb is intentionally shrinking large-account property where terms are inadequate. If casualty pricing follows, underwriting margins narrow.

Travelers: A 14% Dividend Hike Backed by a Reinvestment Tailwind Travelers (NYSE:TRV) currently pays $1.25 per quarter, with an annualized forward dividend of $5.00 per share. That reflects this year’s step up from $1.10 to $1.25, a raise CEO Alan Schnitzer described as “marking 22 consecutive years of dividend increases with a compound annual growth rate of 8% over that period.” The dividend record supports the streak, showing progressively higher quarterly amounts across the annual steps from 2005 through 2026.

Second-quarter core income hit $2.2 billion, or $10.04 per diluted share, with quarterly core return on equity of 24.9% and trailing-four-quarter core ROE of 24.2%. After-tax net investment income rose 14% to $883 million, with new-money yields about 90 basis points higher than the yield embedded in the portfolio. Management guides fixed-income NII to approximately $840 million in the third quarter and roughly $870 million in the fourth. The portfolio, at more than $100 billion, is 95% fixed income and 99% investment grade. Travelers returned more than $1.5 billion of capital in the quarter, including $1.3 billion of share repurchases, with $3.92 billion of buyback capacity remaining.

The bull case: reinvestment income is a growing, predictable annuity layered on top of an 83.6% combined ratio, and the dividend has compounded roughly 8% annually for over two decades. Risk: policies in force are shrinking in personal lines, with auto down 9.1% and homeowners down 8.0% year over year in the second quarter. Reserve exposures also linger, including $1.22 billion of asbestos reserves.

Cincinnati Financial: A Multi-Decade Raiser With a Fortress Parent Balance Sheet Cincinnati Financial (NASDAQ:CINF) pays $0.94 per quarter, for a forward annualized dividend of $3.76 per share. This year’s 8% raise from $0.87 to $0.94 extends a record the dividend history shows rising through every reported year from 1999 through 2026, one of the longest visible streaks in the group (the kind of multi-decade raise cadence we screened for in a free Dividend Kings report).

Pretax investment income rose 14% to $318 million in the first quarter, with bond interest up 12% and equity dividends up 13%. On the July call, management noted investment income up 12% in the second quarter, with the pre-tax average yield on the fixed maturity portfolio at 5.08% and the average yield on new bond purchases at 5.66%. Underwriting has been consistently profitable across cycles: 2025 marked the 14th consecutive year of underwriting profit, with net written premiums crossing $10 billion for the first time in the company’s 75-year history. Behind the dividend sits $5.7 billion in parent-company cash and marketable securities, debt to total capital under 10%, and nearly $17 billion of GAAP shareholders’ equity.

The bull case is durability. Few insurers can point to a longer dividend record, a fortress parent balance sheet, and an equity portfolio in a net gain position of $8.9 billion feeding rising dividend income. Risk: catastrophe concentration remains real. The January 2025 California wildfires were the worst cat loss in company history, and personal-lines full-year 2025 combined ratio was 103.6%, an underwriting loss.

Allstate: A Higher-Payout P&C Story With a 44% ROE Backdrop Allstate (NYSE:ALL) pays $1.08 per quarter, with a forward annualized dividend of $4.32 per share. This year’s increase moved the quarterly rate from $1.00 to $1.08, and the record shows a clear upward progression from $0.54 in 2020 to $1.08 in 2026.

Adjusted net income return on equity ran at 44.2% on a trailing 12-month basis, and second-quarter adjusted EPS was $8.99 against a $6.07 consensus. Net investment income increased 33.8% to $1 billion, reflecting a lengthened duration, a larger portfolio, and higher performance-based income. Management noted that since 2022, investment income has grown from $2.4 billion to nearly $3.8 billion on a trailing 12-month basis. Property-Liability delivered $2.01 billion of underwriting income at an 86.6 combined ratio. Capital returns are substantial: $3.5 billion returned to shareholders over the trailing 12 months, or about 6.7% of market capitalization, with $9.5 billion of deployable capital at the holding company, or approximately $37 per common share outstanding.

The bull case: Allstate is generating enough capital to fund organic growth, buybacks, and a rising dividend simultaneously, and higher rates keep amplifying market-based investment income. Risk: homeowners underlying loss costs are climbing. The homeowners underlying combined ratio rose 2.9 points year over year, and quarterly performance-based investment income is inherently volatile. A softer pricing cycle in auto, layered on rising legal expenses, would test margins.

Why This Group Wins in a High-Rate World These four insurers share the same structural advantage: they hold large, high-quality fixed-income portfolios funded by policyholder premiums, and every quarter that rates stay elevated, more of that float rolls into higher yields. Chubb and Travelers both flagged reinvestment rates comfortably above their portfolio book yields, which mechanically lifts investment income for years, not quarters. Underwriting discipline holds combined ratios well below 100 across the group, and every name here funded a dividend increase in 2026 without stretching coverage. If the 10-year holds near current levels, the income engine keeps compounding.

Contact [email protected] for any questions or corrections.

Chubb (NYSE:CB – Get Free Report) and Citizens (NYSE:CIA – Get Free Report) are both finance companies, but which is the superior investment? We will contrast the two companies based on the strength of their profitability, analyst recommendations, risk, earnings, valuation, institutional ownership and dividends.

Earnings and Valuation This table compares Chubb and Citizens”s top-line revenue, earnings per share (EPS) and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Chubb $59.40 billion 2.19 $10.31 billion $28.27 11.95 Citizens $255.01 million 0.80 $14.59 million $0.21 17.33 Chubb has higher revenue and earnings than Citizens. Chubb is trading at a lower price-to-earnings ratio than Citizens, indicating that it is currently the more affordable of the two stocks. Insider and Institutional Ownership 83.8% of Chubb shares are owned by institutional investors. Comparatively, 13.7% of Citizens shares are owned by institutional investors. 0.4% of Chubb shares are owned by insiders. Comparatively, 2.2% of Citizens shares are owned by insiders. Strong institutional ownership is an indication that hedge funds, endowments and large money managers believe a stock is poised for long-term growth.

Analyst Recommendations This is a summary of current recommendations and price targets for Chubb and Citizens, as provided by MarketBeat.com.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Chubb 1 12 7 2 2.45 Citizens 0 1 2 0 2.67 Chubb currently has a consensus price target of $360.77, indicating a potential upside of 6.79%. Citizens has a consensus price target of $5.50, indicating a potential upside of 51.10%. Given Citizens’ stronger consensus rating and higher possible upside, analysts clearly believe Citizens is more favorable than Chubb.

Risk & Volatility Chubb has a beta of 0.37, suggesting that its share price is 63% less volatile than the S&P 500. Comparatively, Citizens has a beta of 0.43, suggesting that its share price is 57% less volatile than the S&P 500.

Profitability This table compares Chubb and Citizens’ net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets Chubb 18.10% 14.47% 4.19% Citizens 4.55% 4.73% 0.63% Summary Chubb beats Citizens on 10 of the 15 factors compared between the two stocks.

About Chubb (Get Free Report)

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses. Its North America Personal P&C Insurance segment provides affluent and high net worth individuals and families with homeowners, automobile and collector cars, valuable articles, personal and excess liability, travel insurance, and recreational marine insurance and services. The company's North America Agricultural Insurance segment offers multiple peril crop and crop-hail insurance; and coverage for farm, ranch, and specialty property and casualty, and commercial agriculture products. Its Overseas General Insurance segment provides coverage for traditional commercial property and casualty; specialty categories, such as financial lines, marine, energy, aviation, political risk, and construction; and group accident and health, and traditional and specialty personal lines for corporations, middle markets, and small customers through retail brokers, agents, and other channels. The company's Global Reinsurance segment offers traditional and specialty reinsurance under the Chubb Tempest Re brand to property and casualty companies. Its Life Insurance segment provides protection and savings products comprising whole life, endowment plans, individual and life, group term life, health protection, personal accident, credit life, universal life, group employee benefits, and unit linked contracts. It markets its products primarily through insurance and reinsurance brokers. The company was formerly known as ACE Limited and changed its name to Chubb Limited in January 2016. Chubb Limited was incorporated in 1985 and is headquartered in Zurich, Switzerland.

About Citizens (Get Free Report)

Citizens, Inc. provides life insurance products in the United States and internationally. The company operates in two segments, Life Insurance and Home Service Insurance. The Life Insurance segment issues ordinary whole life insurance and endowment policies in the United States dollar-denominated amounts to non-U.S. residents in through independent marketing agencies and consultants. The Home Service Insurance segment offers final expense life insurance and property insurance policies to middle-and lower-income households, as well as whole life products in Louisiana, Mississippi, and Arkansas. This segment provides its products and services through funeral homes and independent agents. The company provides accident and health insurance policies. Citizens, Inc. was founded in 1969 and is headquartered in Austin, Texas.

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The Federal Reserve raised its benchmark interest rate on Wednesday, September 16, lifting the federal funds target to a range of 3.75% to 4%. It was the first hike since July 2023, and the committee voted for it unanimously.

For most households, that decision means costlier bills. Credit card rates, which now average above 22%, will drift higher, and the average 30-year mortgage already sits near 6.76%.

A rate hike moves money in two directions, though. The same shift that makes borrowing pricier also makes idle cash and a handful of sectors pay investors more than they have in two years. Here is where you should be looking.

Your Cash Finally Earns MoreWhen the Fed lifts rates, yields on some of the safest and most liquid places to keep money climb within days. That is the most direct way an everyday investor gains from this decision, and it carries almost no market risk.

Short-term Treasury bills react fastest. You can buy them directly on TreasuryDirect.gov in maturities from four to 52 weeks, and the interest they pay is exempt from state and local taxes. Investors who want one-click access can hold bill-focused funds like the iShares 0-3 Month Treasury Bond ETF (NYSE:SGOV) or the SPDR Bloomberg 1-3 Month T-Bill ETF (NYSE:BIL).

Money market funds catch up within a week or two. The average 7-day yield on the 100 largest funds was 3.51% early this week, according to market data, with Vanguard’s Federal Money Market Fund paying closer to 3.63%. Because these funds reset quickly, they tend to reflect the new rate faster than a bank savings account will.

A few options keep cash liquid while it earns:

High-yield savings accounts, some of which paid above 4% even before the hike, against a national savings average of just 0.38%. Certificates of deposit, which reward savers who can lock money away for a fixed term. Treasury bills and notes out to 10 years, quoted between 4.1% and 4.99% on Schwab this week. One fact keeps this honest. Inflation is running near 3.7%, so a 4% yield leaves only a slim real gain once rising prices are accounted for. On $10,000, the gap between the best cash account and an average one is the difference between protecting your buying power and quietly losing it, which makes finding and comparing the absolute best interest rates the single most important factor for success.

Why Banks And Insurers Usually WinHigher rates feed almost mechanically into financial company profits. Banks earn a wider spread between what they pay depositors and what they charge borrowers, and that spread lifts net interest income.

That mechanic is why lenders such as JPMorgan Chase & Co. (NYSE:JPM) and U.S. Bancorp (NYSE:USB) tend to attract buyers when the Fed tightens. The Financial Select Sector SPDR Fund (NYSE:XLF) packages that exposure into a single holding for investors who prefer the sector over one name.

Insurers benefit through a different door. They hold large pools of cash to cover future claims, and higher rates mean that cash earns more while it waits. Prudential Financial (NYSE:PRU) and Chubb (NYSE:CB) sit in this group, as does the SPDR S&P Insurance ETF (NYSE:KIE).

The advantage is real but not unconditional. If higher rates eventually slow the economy and loan defaults rise, the spread that helps banks can narrow again. Rate-driven strength works best while the broader economy holds up.

The Inflation Behind The Hike Also Lifts EnergyThe Fed did not tighten in a vacuum. It moved because inflation stayed hot, pushed largely by energy costs tied to conflict in the Middle East.

That same pressure tends to lift energy producers. When oil and gas prices rise, revenue at companies like Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX) rises with them, which is why the sector often tracks the very inflation that forced the Fed’s hand.

The Quiet Rotation From Growth To ValueRising rates change how the market prices stocks. A higher discount rate shrinks the present value of profits promised years into the future, and that is exactly the kind of profit fast-growing technology stocks are valued on.

Value stocks and steady dividend payers tend to hold up better. Their cash arrives sooner, and their payouts look more competitive once a savings account yields 4%. The same math weighs on real estate investment trusts, which lean on cheap borrowing to fund their deals.

Markets showed the split on Wednesday. The S&P 500 rose 0.4%, and the Nasdaq gained 0.8% after the announcement, yet the leadership underneath is tilting toward the companies that higher rates reward. The 10-year Treasury yield, meanwhile, pushed past 5% for the first time since 2007, which raises the bar every stock has to clear to look attractive.

Before You Commit Any DollarsThe strongest move after a hike is often the least thrilling one. Clearing a credit card balance that now costs more than 22% a year beats almost any yield you can safely earn on cash.

Two steps come before chasing any of this:

Keep an emergency fund in place, ideally parked in one of the higher-yielding cash accounts above. Pay down variable-rate debt before it reprices against you. Timing matters too. The Fed’s own projections point to the chance of another hike this year, with officials penciling in a year-end rate between 4.1% and 4.4%. If more increases are coming, locking into a long certificate of deposit today could mean missing a better rate within months, while short-term and floating options stay flexible.

The first hike in more than two years did more than raise the cost of borrowing. It reopened a window that had been closing for savers, and it handed a measurable edge to banks, insurers, and energy. How wide that window opens depends on what Chair Kevin Warsh and the Fed do next, and their own forecasts suggest they may not be done.

image credit: Author

Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

, /PRNewswire/ -- Following Sean Ringsted's appointment as Chief Scientist and Executive Vice President, Chubb Group, Chubb Limited (NYSE: CB) today announced two additional leadership appointments in its Digital Business organization, effective immediately.

Johan Oosthuizen has been named Global Head of Digital Business. In this capacity, he will have executive responsibility for all aspects of the digital business globally. This includes the acquisition and performance of partnerships across Chubb's digital business, and the deployment of approved products.

Johan brings extensive experience to this role, having most recently served as Global Digital Chief Technology Officer, where he led Chubb's global digital technology strategy and drove the company's digital business growth aspirations. He has more than 20 years of experience in digital transformation and innovation and has been instrumental in building Chubb's embedded insurance and digital partnership capabilities.

Johan will report to Paul McNamee, President, Overseas General Insurance and Executive Vice President, Chubb Group, and will be accountable to Bryce Johns, President, Chubb Life and Senior Vice President, Chubb Group, for life related production.

"Johan has been an integral part of the technology strategy that made our digital ambitions possible," said Ringsted. "His deep technical expertise, paired with his commercial instincts for how partnerships create value, makes him exactly the right leader to take our digital business into its next phase of growth."

Additionally, Gabriel Lazaro has been named Global Head of Digital Growth & Strategic Consumer Partnerships. Gabriel will be responsible for Chubb's partnership relationships, including a shared vision and strategies for growth across digital platforms, technology companies and emerging ecosystems.

The role will identify and shape new growth opportunities and invigorate existing relationships across P&C and Life, working across Chubb Overseas General and North America addressing evolving customer needs and creating value for both Chubb and its partners. Gabriel will report to Paul McNamee and to Johan Oosthuizen in the spirit of partnership.

Gabriel joined Chubb in 2016 as Head of Digital for Latin America and was promoted in 2021 to Executive Vice President, Head of Digital Business for Overseas General Insurance. Prior to Chubb, Gabriel held several international digital roles at AIG, including Global Digital Marketing Director and Head of Digital for Emerging Markets.

"Gabriel has consistently demonstrated his ability to collaborate with our digital partners throughout Chubb Overseas General to build long lasting insurance relationships," said McNamee. "His track record across Overseas General Insurance speaks for itself, and I'm confident he'll bring that same energy and discipline to our global partnership strategy."

These appointments reflect Chubb's continued investment in scaling its digital business and strengthening its partnership ecosystem.

About Chubb
Chubb is a world leader in insurance. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb employs approximately 45,000 people worldwide. Additional information can be found at: www.chubb.com.

SOURCE Chubb

Your Plan G premium just jumped and you filed no claims, changed nothing, and did nothing wrong. The reason traces back to 440,000 people who landed in Medigap blocks across the country, and understanding it changes what you do next.

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A 72-year-old on Medigap Plan G opens her 2026 renewal and sees her premium rising 18%. She hasn’t filed a claim in three years or changed her coverage. Her renewal reflects more than her own use. An influx of guaranteed-issue enrollees can add claims pressure to a policy block, alongside other headwinds like medical inflation, heavier utilization and the rising age of the people already in it.

If you carry Plan G, the mechanic behind that letter is worth understanding.

Guaranteed Issue Meets an Aging Block Medicare Advantage carriers exited hundreds of counties heading into 2026. Beneficiaries who lose an MA plan because it leaves their market gain a federal guaranteed-issue right to buy Medigap without medical underwriting. Industry analysis of 2026 rate filings reportedly estimated roughly 440,000 forced disenrollees bought Medigap for 2026. A Johns Hopkins analysis found approximately 2.9 million people experienced forced disenrollment for the 2026 plan year.  

Not all of them landed in Medigap. KFF recently found that most beneficiaries affected by 2025 terminations had solid Advantage options available for 2026, and many took them. Those who did buy Medigap skew older and sicker than the average policyholder. Carriers can’t decline them or rate them individually for health. Those claims get absorbed into the block the applicant joins, and the block gets priced accordingly at the next filing.

Notably, there is no national Plan G pool. Premiums are set by carrier, state, legal entity and policy block, so the pressure lands unevenly. Two people with identical Plan G coverage in different states, or with different carriers in the same state, can see very different renewal rates. Selected 2026 filings involving six major carriers came in at 12% to 26% increases, with some regional filings above 40%. Chubb (NYSE:CB | CB Price Prediction) applied a 45% increase in mid-2025 to all enrollees at once rather than on individual anniversaries. Historical increases in the 3% to 5% range have been cited for Ohio specifically, not nationally.  

What the Hike Costs on Top of Everything Else The Medicare side of the bill rose independently. The standard Part B premium climbed to $202.90 in 2026 from $185.00. The Part B deductible went to $283 from $257. The Part A inpatient deductible went to $1,736 from $1,676. Those are confirmed CMS figures, and a Plan G holder is paying more for the underlying Medicare and more for the supplement covering its gaps. IRMAA surcharges tied to income from two years back can add substantially more for higher earners, one of several traps we mapped in a free Medicare guide.

Current estimates put the 2027 Social Security COLA in the mid-3% range, with the official figure due next month. If Plan G renewals repeat this year’s pattern in a given block, the raise won’t cover the increase there.

The Switching Trap The obvious answer to a 20% hike is to shop. Every carrier’s Plan G covers identical benefits by federal standardization, so premium, rate history and service are the only variables. The trap is underwriting. Once your six-month federal Medigap open enrollment window closes, most states let insurers ask health questions. Diabetes with complications, a recent cardiac event or a cancer history inside the lookback can mean a decline or a rated-up premium that erases the savings. Guaranteed renewability protects the policy you have. It does not travel with you.

Some states carve out exceptions. Birthday rules in several states let you move to an equal or lesser plan without underwriting during a window around your birthday. Missouri uses the policy anniversary. New York, Connecticut and Massachusetts offer continuous or annual guaranteed issue. Maine also makes the cut, with some limitations.

Three Moves Worth Making Sooner Than Later The renewal is set, but the next one isn’t, and these are the levers that exist before it arrives.

Shop a same-benefit Plan G from a different carrier at your current age. Quoting five carriers takes about an hour. If you can pass underwriting, or you live in a birthday-rule state, identical coverage is often available for meaningfully less. Consider Plan N or High-Deductible Plan G if premium relief outranks predictability. HD Plan G trades a much lower premium for a deductible you pay before coverage begins. A healthy year favors it. A heavy claims year does not. Do not drop Medigap for a $0-premium Advantage plan just because the bill rose. Leaving is easy. Coming back, in most states, requires underwriting you may no longer pass. That’s exactly why the people who moved into Medigap for 2026 could only do it because their plan exited the market for them. The pressure on your block is real. Whether you have a route out of it depends on your health, your state and how early you start asking.

Contact [email protected] for any questions or corrections.

Baird Financial Group Inc. trimmed its holdings in Chubb Limited (NYSE:CB – Free Report) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,781 shares of the financial services provider’s stock after selling 2,170 shares during the period. Baird Financial Group Inc. owned about 0.05% of Chubb worth $69,095,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Cherry Tree Wealth Management LLC grew its holdings in Chubb by 38.3% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider’s stock valued at $35,000 after buying an additional 31 shares in the last quarter. Phillips Wealth Planners LLC boosted its position in shares of Chubb by 1.8% during the fourth quarter. Phillips Wealth Planners LLC now owns 1,737 shares of the financial services provider’s stock worth $521,000 after acquiring an additional 31 shares during the last quarter. Hoxton Planning & Management LLC boosted its position in shares of Chubb by 4.3% during the fourth quarter. Hoxton Planning & Management LLC now owns 746 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 31 shares during the last quarter. South Plains Financial Inc. grew its stake in Chubb by 2.2% during the fourth quarter. South Plains Financial Inc. now owns 1,601 shares of the financial services provider’s stock valued at $500,000 after acquiring an additional 34 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. grew its stake in Chubb by 0.8% during the first quarter. Stock Yards Bank & Trust Co. now owns 4,105 shares of the financial services provider’s stock valued at $1,338,000 after acquiring an additional 34 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In Several brokerages have commented on CB. Morgan Stanley boosted their price target on shares of Chubb from $340.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 19th. HSBC lowered Chubb from a “buy” rating to a “hold” rating and raised their price objective for the company from $370.00 to $373.00 in a research report on Monday, July 6th. Evercore reaffirmed an “outperform” rating and issued a $374.00 target price on shares of Chubb in a report on Friday, July 10th. Weiss Ratings downgraded Chubb from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, August 27th. Finally, Wells Fargo & Company dropped their price target on Chubb from $358.00 to $356.00 and set an “equal weight” rating for the company in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $361.00.

Check Out Our Latest Stock Report on Chubb Chubb Price Performance CB stock opened at $337.59 on Thursday. Chubb Limited has a 52 week low of $265.30 and a 52 week high of $365.91. The firm has a market capitalization of $130.24 billion, a P/E ratio of 11.94, a price-to-earnings-growth ratio of 1.61 and a beta of 0.37. The company has a fifty day simple moving average of $347.88 and a two-hundred day simple moving average of $334.70. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22.

Chubb (NYSE:CB – Get Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. The firm had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $6.14 EPS. Analysts anticipate that Chubb Limited will post 27.35 earnings per share for the current fiscal year.

Chubb Dividend Announcement The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be given a $1.02 dividend. The ex-dividend date is Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb’s dividend payout ratio (DPR) is currently 14.43%.

Insider Activity at Chubb In other news, Director Michael P. Connors sold 5,500 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the transaction, the director owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. The trade was a 30.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Joseph Wayland sold 8,502 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the sale, the executive vice president owned 33,749 shares in the company, valued at $12,302,860.46. The trade was a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.37% of the company’s stock.

Chubb Company Profile (Free Report)

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. The company serves businesses, individuals, and institutional clients, offering coverage for commercial property, liability, marine, cyber risk, workers’ compensation, professional lines, personal assets, and other specialty risks.

Chubb distributes its products through brokers, agents, banks, and other business partners. Its commercial insurance operations serve companies ranging from small businesses to multinational corporations, while its personal insurance business provides coverage for homes, automobiles, valuable possessions, and other personal risks.

See Also Five stocks we like better than Chubb Qualcomm’s Data Center Bet Looks More Real After Amazon’s AI Deal GE Aerospace’s $11.75B Deal Puts Howmet Aerospace in Focus Casey’s Post-Earnings Drop May Give Investors a Better Entry Into a Quality Retailer Sovereign AI: Palantir and Nebius Cut the Cloud Cord Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Limited (NYSE:CB – Free Report).

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In the latest trading session, Chubb (CB - Free Report) closed at $348.25, marking a +2.6% move from the previous day. This change outpaced the S&P 500's 1.06% gain on the day. Meanwhile, the Dow gained 1.18%, and the Nasdaq, a tech-heavy index, added 1.4%.

Prior to today's trading, shares of the insurer had lost 3.72% lagged the Finance sector's gain of 0.85% and the S&P 500's gain of 2.46%.

The investment community will be paying close attention to the earnings performance of Chubb in its upcoming release. In that report, analysts expect Chubb to post earnings of $6.22 per share. This would mark a year-over-year decline of 16.96%. Alongside, our most recent consensus estimate is anticipating revenue of $16.71 billion, indicating a 3.59% upward movement from the same quarter last year.

For the full year, the Zacks Consensus Estimates project earnings of $27.35 per share and a revenue of $64.33 billion, demonstrating changes of +10.33% and +7.29%, respectively, from the preceding year.

Investors should also note any recent changes to analyst estimates for Chubb. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.33% higher. Chubb presently features a Zacks Rank of #3 (Hold).

Looking at its valuation, Chubb is holding a Forward P/E ratio of 12.41. For comparison, its industry has an average Forward P/E of 11.55, which means Chubb is trading at a premium to the group.

One should further note that CB currently holds a PEG ratio of 1.62. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Insurance - Property and Casualty industry was having an average PEG ratio of 1.71.

The Insurance - Property and Casualty industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 60, placing it within the top 25% of over 250 industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

In the first half of 2026, Progressive (PGR +0.38%) bought back roughly $1 billion worth of its own stock. Chubb (CB +0.20%) bought back $1.37 billion in shares in the second quarter alone (bringing its first-half repurchases to $2.12 billion). Those numbers make Prudential's (PRU +2.31%) $250 million in second-quarter share repurchases sound like chump change, even though that's still a massive amount of cash to devote to a stock buyback.

Stock buybacks are often pitched as a way to return value to shareholders, and they are. However, there's another issue to consider here that may be just as important: Property and casualty insurance pricing is softening.

Image source: Getty Images.

What does a buyback do? When a company buys back its own stock, the number of shares in the market decreases. That sounds simple, but it's worth putting some numbers on this with a simple example. If a company has 100 shares and buys back 10, then there are only 90 shares left for investors to trade.

That has a significant impact on any financial measures based on shares. For example, if the company earns $100 and it has 100 shares, then earning per share are $1. If that share count falls to 90 and it still earns $100, then earnings per share improves 11% to $1.11. That said, if earnings fall, stock buybacks remain beneficial. An earnings drop to $90, along with that 10 share buyback, would keep earnings per share at $1.

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But there's an important middle ground. If earnings only dropped to $95, the 10-share buyback would leave the company with earnings per share of roughly $1.05. In other words, a moderate drop in earnings could still lead to higher earnings per share, with the reduction in the share count effectively offsetting the impact of a weakening business environment. Now it's time to start looking at the insurers and their stock buybacks.

The P&C insurance market is getting more competitive In a recent industry report, Marsh estimated that global insurance rates fell 6% in the second quarter. That said, casualty rates were estimated to have increased by 2%, while property rates dropped by a fairly sizable 12%. Property is typically a major line of business for most public P&C insurance companies.

What's going on, according to Marsh, is that after several strong years, companies are competing more aggressively, including on price. That's a fairly typical cycle in the insurance industry. Absent any large weather events or other disasters, pricing power is likely to remain under pressure.

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To give a specific example, Progressive's combined ratio increased to 86.8% in July, up 1.5 percentage points from a year ago. A combined ratio is a measure of profitability, comparing an insurance company's costs (operating costs and claims) to the premiums it collects. A number below 100% indicates a company is making a profit. So the 1.5 percentage-point increase indicates that Progressive's profitability is weakening.

Chubb's second-quarter results show that its combined ratio remained flat year over year at 81.9%. However, if property and casualty pricing is getting more competitive, buying back stock could help protect earnings from any potential business weakness in the future. So it probably isn't shocking that two insurers bought back huge amounts of stock in the first half of 2026.

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Notably, Prudential's buyback was much smaller. Prudential primarily sells life insurance, and its business continues to perform very well, buoyed by an asset management business benefiting from a strong stock market. You could argue that it simply doesn't have the same need to buy back shares as a property and casualty insurer like Chubb and Progressive.

Chubb and Progressive are likely protecting earnings growth Buying back shares is a way to return cash to shareholders without creating an ongoing obligation, unlike a dividend increase. So Chubb and Progressive are acting in a shareholder-friendly manner. However, the large stock buybacks will also help support earnings as the property and casualty sector gets more competitive, so there's more to the story here. And life insurance-focused Prudential's smaller buyback could be the example that shows what's really going on in the property and casualty insurance space.

Chubb Limited (CB) stands out for underwriting consistency, with a 10-year average combined ratio of 89.6% versus 99.5% for the U.S. P&C industry. Chubb is willing to sacrifice premium growth in less attractive commercial segments, using diversification to preserve underwriting margins as pricing softens. Investment income and a growing asset base provide a second earnings engine, while Asian life operations add modest diversification.

Beacon Pointe Advisors LLC bought a new stake in Chubb Limited (NYSE:CB – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 87,379 shares of the financial services provider’s stock, valued at approximately $29,773,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. XXEC Inc. acquired a new stake in Chubb during the second quarter worth $228,226,000. Berkshire Hathaway Inc increased its stake in shares of Chubb by 9.3% during the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock worth $10,689,855,000 after buying an additional 2,916,288 shares during the period. BlackRock Inc. acquired a new stake in shares of Chubb in the 2nd quarter valued at $9,913,336,000. State Street Corp lifted its position in shares of Chubb by 0.4% during the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock worth $4,827,852,000 after purchasing an additional 68,553 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Chubb by 25.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock worth $4,665,508,000 after purchasing an additional 3,049,987 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes A number of equities analysts recently weighed in on the stock. Citigroup reiterated a “market outperform” rating on shares of Chubb in a research report on Wednesday, July 22nd. Citizens Jmp reaffirmed a “market outperform” rating and issued a $400.00 target price on shares of Chubb in a research note on Wednesday, July 22nd. Barclays set a $387.00 price objective on shares of Chubb in a research report on Tuesday, July 7th. Atlantic Securities set a $301.00 price target on shares of Chubb in a report on Wednesday, July 15th. Finally, Mizuho increased their price target on Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $361.00.

Read Our Latest Stock Analysis on Chubb Chubb Price Performance Shares of Chubb stock opened at $340.34 on Friday. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a fifty day moving average price of $347.46 and a two-hundred day moving average price of $333.97. The company has a market cap of $131.30 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 1.64 and a beta of 0.39.

Chubb (NYSE:CB – Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.49. The firm had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.14 EPS. Analysts expect that Chubb Limited will post 27.49 EPS for the current year.

Chubb Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb’s dividend payout ratio is presently 14.43%.

Insider Transactions at Chubb In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the completion of the sale, the executive vice president owned 33,749 shares in the company, valued at $12,302,860.46. The trade was a 20.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael P. Connors sold 5,500 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the transaction, the director owned 12,803 shares of the company’s stock, valued at $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.37% of the stock is currently owned by corporate insiders.

About Chubb (Free Report)

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.

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