Chubb Logs Higher 1Q Profit on Rising Premiums

By Elias Schisgall

Chubb posted a higher profit in the first quarter as the company's net premiums for property and casualty rose.

The insurance company recorded a profit of $2.32 billion, or $5.88 a share, compared with its profit of $1.33 billion, or $3.29 a share, a year earlier.

Core operating income per share, which excludes certain items including adjusted net realized gains and market risk benefits gains, was $6.82 a share. Analysts surveyed by FactSet were expecting $6.60 a share.

Net premiums rose to $14.01 billion, up from $12.65 billion a year prior. Analysts were expecting $13.56 billion.

Property and casualty net premiums rose 7.2% to $11.72 billion, with consumer insurance premiums rising 14% and commercial insurance up 4.6%.

Life insurance net premiums rose 33% to $2.29 billion.

Chief Executive Officer Evan Greenberg said the company did not renew a "substantial percentage" of the its shared and layered property business in response to rapidly softening property market conditions. He added the financial lines insurance market is currently soft.

Greenberg also said that the company was relatively insulated from the war in Iran.

Chubb is currently serving as lead underwriter for the U.S. International Development Finance Corporation's Maritime Reinsurance facility, which insures ships traveling through the Strait of Hormuz. Chubb and other insurers on the policy doubled its coverage to $40 billion earlier this month.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

April 21, 2026 16:43 ET (20:43 GMT)