Chubb Limited reports developments for a global insurance business spanning commercial and personal property and casualty insurance, personal accident and supplemental health, reinsurance and life insurance. News commonly covers underwriting results, net premiums written, combined ratio trends and earnings materials across North America, Overseas General, consumer insurance and commercial insurance.
Company updates also include insurance partnerships, risk-management programs for sectors such as marine and life sciences, reinsurance facility announcements, claims leadership, operations and technology appointments, and earnings conference schedules. The company is listed on the New York Stock Exchange under CB.
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Chubb Limited (NYSE: CB) reported Q1 2023 net income of $1.89 billion, a 3.2% decrease from $1.95 billion in Q1 2022. Core operating income reached a record $1.84 billion, up 11.8%.
Net premiums written increased by 16.6% to $10.71 billion, with strong performances across all segments: P&C premiums rose 9.3% and Life Insurance premiums surged 124.4%.
The P&C combined ratio was 86.3%, up from 84.3% last year, while underwriting income was $1.21 billion. Catastrophe losses totaled $458 million. Book value per share increased by 5.0% to $127.94. The company maintains confidence in robust revenue growth and operational earnings amidst market volatility.
Chubb has appointed Annmarie Camp as the new North America Business Development Leader, transitioning from her role as Head of Personal Risk Services in Europe. In her new position, she will oversee the business development team focused on Chubb's commercial lines products in North America. Reporting to COO Rob Poliseno, Camp is set to relocate from London to New York. With over 14 years at Chubb and extensive experience in sales and distribution, she has a proven track record in motivating high-performing teams. This appointment aims to enhance agency leads and strengthen local partnerships, reflecting Chubb's commitment to growth in the North American market.
Chubb Limited (NYSE: CB) is set to host its first quarter earnings conference call on April 26, 2023, at 8:30 a.m. Eastern. The earnings release and financial supplement will be available post-market closing on April 25, 2023. Interested parties can access the call through a live webcast or by phone. Chubb, the world’s largest publicly traded property and casualty insurance company, operates in 54 countries, providing a range of insurance products and services. With approximately 34,000 employees, the company emphasizes risk management and swift claim service.
Chubb Limited (NYSE: CB) has appointed Frances O'Brien as Executive Vice President and Chief Risk Officer, effective April 1, 2023. O'Brien, who has over 40 years in the insurance sector, previously served as Senior Vice President and Deputy Chief Risk Officer. She will oversee Chubb's enterprise risk management and strategies. Sean Ringsted, the current Chief Risk Officer, remains as Chief Digital Business Officer, focusing on expanding the company's digital operations. Both executives report to Evan G. Greenberg, Chairman and CEO. The leadership changes aim to enhance Chubb's risk management and digital capabilities.
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