Chubb Limited (NYSE: CB) Q1 2026 Earnings Report: Strong Underwriting and Premium Growth Despite Net Income EPS Below Consensus
Chubb Limited (NYSE: CB) reported first-quarter 2026 net income of $2.32 billion, or $5.88 per share, while core operating income was $2.69 billion, or $6.82 per share. Net income per share was below a widely cited analyst consensus estimate of about $6.60, though core operating EPS was above some published expectations.
Despite the mixed comparison with published estimates, Chubb delivered robust operating performance. Consolidated net premiums written rose 10.7% to $14.0 billion, driven by growth in both its Property & Casualty (P&C) and Life Insurance businesses. The company also reported a P&C combined ratio of 84.0%, reflecting very strong underwriting profitability, and book value per share increased 15.8% to $189.93 from a year earlier.
Chubb is a global insurance company offering property and casualty insurance, accident and health coverage, reinsurance, and life insurance to individuals, businesses, and multinational clients.
On April 21, 2026, Chubb announced its quarterly earnings results after the market closed. The company reported net income of $2.32 billion, or $5.88 per share, and core operating income of $2.69 billion, or $6.82 per share for the quarter ended March 31, 2026.
Chubb reported adjusted net investment income of $1.84 billion and net premiums earned of $13.46 billion. Meanwhile, consolidated net premiums written increased 10.7% to $14.01 billion, a key metric for insurers because it reflects the value of policies written during the period.
The growth in premiums was broad-based. In P&C, net premiums written increased 7.2% to $11.72 billion, while Life Insurance net premiums written rose 33.1% to $2.29 billion. Chubb’s P&C underwriting income surged to $1.79 billion, and the 84.0% combined ratio indicates the company was highly profitable in its core insurance operations.
Although the headline comparison on net income EPS was mixed relative to some analyst estimates, the underlying operating results were strong. CEO Evan Greenberg described it as an “excellent quarter”, citing growth in underwriting income, investment income, and life income.
