Chubb Q3 2026 earnings rise 1.5% to $2.84B

Q: How much did Chubb (CB) earn in Q3 2026?

Chubb net income was $2.844 billion, or $7.30 per share, and core operating income was $2.980 billion, or $7.66 per share. Chubb net income per share was up 4.4% from the same quarter in 2025; core operating income per share was up 0.8%.

Q: How did Chubb's (CB) premiums change in Q3 2026?

Consolidated net premiums written were $15.143 billion, up 1.9% from the same quarter in 2025, or up 1.8% in constant dollars. P&C net premiums written were $13.183 billion, up 1.9%, and Life Insurance net premiums written were $1.960 billion, up 1.4%.

Nine-month net income rose 12.9% and core operating income rose 21.0%, while quarterly P&C underwriting income declined 8.8%.

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8-K

Rhea-AI Filing Summary

Chubb Ltd (CB) reported third-quarter 2026 Chubb net income of $2.844 billion, or $7.30 per share, up 1.5% and 4.4%, respectively, from the same quarter in 2025. Core operating income was $2.980 billion, down 2.2%, while core operating income per share was $7.66, up 0.8%. Net premiums written were $15.143 billion, up 1.9%. P&C underwriting income was $2.061 billion, down 8.8%; the P&C combined ratio was 84.1%, versus 81.8%.

For the nine months ended September 30, 2026, Chubb net income was $8.018 billion, up 12.9%, and core operating income was $8.597 billion, up 21.0%; diluted per-share amounts were $20.46 and $21.94, respectively. Net premiums written were $43.853 billion, up 5.1%. Annualized ROE was 14.5%, and core operating ROE was 14.6%.

After-tax realized and unrealized investment portfolio losses of $4.48 billion affected book value during the quarter, partly offset by $551 million of foreign currency gains; book value per share was $191.43 as of September 30, 2026. Effective Q3 2026, segment income and core operating income were redefined to exclude amortization expenses related to purchased intangibles other than long-term distribution agreements, and prior periods were restated.

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Positive

Moderate pointNine-month net income reached $8.018 billion, up 12.9%.
Moderate pointNine-month core operating income reached $8.597 billion, up 21.0%.
Moderate pointNine-month net premiums written were $43.853 billion, up 5.1%.

Negative

Moderate pointQuarterly P&C underwriting income was $2.061 billion, down 8.8%.

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8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Chubb net income, Q3 2026: $2.844 billion; up 1.5% Core operating income, Q3 2026: $2.980 billion; down 2.2% Net premiums written, Q3 2026: $15.143 billion; up 1.9% +4 more

7 metrics

Chubb net income, Q3 2026 $2.844 billion; up 1.5% Three months ended September 30, 2026, compared with the same period in 2025

Core operating income, Q3 2026 $2.980 billion; down 2.2% Three months ended September 30, 2026, compared with the same period in 2025

Net premiums written, Q3 2026 $15.143 billion; up 1.9% Three months ended September 30, 2026, compared with the same period in 2025

P&C underwriting income, Q3 2026 $2.061 billion; down 8.8% Three months ended September 30, 2026, compared with the same period in 2025

Chubb net income, nine months ended September 30, 2026 $8.018 billion; up 12.9% Nine months ended September 30, 2026, compared with the same period in 2025

Core operating income, nine months ended September 30, 2026 $8.597 billion; up 21.0% Nine months ended September 30, 2026, compared with the same period in 2025

Net premiums written, nine months ended September 30, 2026 $43.853 billion; up 5.1% Nine months ended September 30, 2026, compared with the same period in 2025

Key Terms

Core operating income, Current accident year combined ratio excluding catastrophe losses, Prior period development (PPD), Accumulated other comprehensive income (loss) (AOCI), +1 more

5 terms

Core operating income financial

"core operating income of $2.98 billion"

Core operating income is the profit a company generates from its regular, day-to-day business activities after paying the normal costs of running those operations, excluding one‑time gains, losses, or unusual items. Investors care because it reveals the steady earnings power of the business—like measuring how well a store makes money from selling goods each month rather than from a one-off sale of property—and helps compare performance across periods and companies.

Current accident year combined ratio excluding catastrophe losses financial

"P&C current accident year combined ratio excluding catastrophe losses"

Prior period development (PPD) financial

"Unfavorable (favorable) prior period development (PPD) - pre-tax"

Accumulated other comprehensive income (loss) (AOCI) financial

"Accumulated other comprehensive income (loss) (AOCI)"

Market risk benefits financial

"Market risk benefits gains (losses)"

Market risk benefits are the extra returns or advantages investors expect or receive for taking on broad, system‑wide swings in the overall market — essentially the premium for bearing risk that cannot be eliminated by diversification. This matters because it helps investors weigh whether the potential higher gains justify larger price swings, guides how portfolios are balanced, and sets expectations for compensation when choosing riskier market exposures; think of it as the extra pay you demand for riding a roller‑coaster instead of a calm bus ride.

Earnings Snapshot

Chubb net income: $2.844 billion

Third quarter 2026

Chubb net income $2.844 billion Up 1.5%

Core operating income $2.980 billion Down 2.2%

Net premiums written $15.143 billion Up 1.9%

Diluted earnings per share, Chubb net income $7.30 Up 4.4%

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did Chubb (CB) earn in Q3 2026?

Chubb net income was $2.844 billion, or $7.30 per share, and core operating income was $2.980 billion, or $7.66 per share. Chubb net income per share was up 4.4% from the same quarter in 2025; core operating income per share was up 0.8%.

How did Chubb's (CB) premiums change in Q3 2026?

Consolidated net premiums written were $15.143 billion, up 1.9% from the same quarter in 2025, or up 1.8% in constant dollars. P&C net premiums written were $13.183 billion, up 1.9%, and Life Insurance net premiums written were $1.960 billion, up 1.4%.

What did Chubb (CB) disclose about the USI Insurance Services investment?

Strategic Holdings, Chubb's holding company partnership with KKR, agreed to sell its investment in USI Insurance Services to Aon. The transaction is expected to result in a realized gain of $460 million on an investment of $740 million.

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Available on EDGAR 10/20/2026 - 05:25 PM EDT Accepted by SEC EDGAR 10/20/2026 - 05:24 PM EDT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report

Pursuant To Section 13 or 15 (d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) - October 20, 2026

Chubb Limited

(Exact name of registrant as specified in its charter)

Switzerland

1-11778

98-0091805

(State or other jurisdiction of

Incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

Baerengasse 32

CH-8001 Zurich, Switzerland

(Address of principal executive offices)

Registrant’s telephone number, including area code: +41 (0)43 456 76 00

Not applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Shares, par value CHF 0.50 per share	CB	New York Stock Exchange
Guarantee of Chubb INA Holdings LLC 0.875% Senior Notes due 2027	CB/27	New York Stock Exchange
Guarantee of Chubb INA Holdings LLC 1.55% Senior Notes due 2028	CB/28	New York Stock Exchange
Guarantee of Chubb INA Holdings LLC 0.875% Senior Notes due 2029	CB/29A	New York Stock Exchange
Guarantee of Chubb INA Holdings LLC 1.40% Senior Notes due 2031	CB/31	New York Stock Exchange
Guarantee of Chubb INA Holdings LLC 2.50% Senior Notes due 2038	CB/38A	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02.

Results of Operations and Financial Condition

On October 20, 2026, Chubb Limited issued a Press Release reporting its third quarter 2026 results and the availability of its third quarter 2026 Financial Supplement. The Press Release and the Financial Supplement are attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively, and are incorporated herein by reference.

The information furnished pursuant to this Item 2.02, including Exhibit 99.1 and Exhibit 99.2, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933 or the Exchange Act.

Item 9.01.

Financial Statements and Exhibits

(d) Exhibits


Exhibit Number		Description

99.1		Press Release, Dated October 20, 2026, Reporting Third Quarter 2026 Results

99.2		Third Quarter 2026 Financial Supplement

104		Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Chubb Limited

By:		/s/ Peter Enns
		Peter Enns
		Executive Vice President and Chief Financial Officer

DATE: October 20, 2026

Exhibit 99.1

LOGO

Chubb Limited

Bärengasse 32

CH-8001 Zurich

Switzerland

www.chubb.com

@Chubb

News Release

Chubb Reports Third Quarter Per Share Net Income and Record

Core Operating Income of $7.30 and $7.66, Respectively, Up 4.4%

and 0.8%; Consolidated Net Premiums Written of $15.1 Billion, Up

1.9%, with P&C and Life Insurance Up 1.9% and 1.4%; P&C Combined

Ratio of 84.1%;

Record Year-to-Date Per Share Net Income and Core Operating

Income of $20.46 and $21.94, Up 16.2% and 24.5%, Respectively;

Annualized Return on Equity (ROE) of 14.5% and Core Operating

ROE of 14.6%

●

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.


Chubb^®, Chubb logo^® and Chubb. Insured.^SM are trademarks of Chubb.		1

Chubb Limited News Release

●

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.

ZURICH – October 20, 2026 – 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^®, Chubb logo^® and Chubb. Insured.^SM are trademarks of Chubb.		2

Chubb Limited News Release

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.


Chubb^®, Chubb logo^® and Chubb. Insured.^SM are trademarks of Chubb.		3

Chubb Limited News Release

“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.”


Chubb^®, Chubb logo^® and Chubb. Insured.^SM are trademarks of Chubb.		4

Chubb Limited News Release

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.


Chubb^®, Chubb logo^® and Chubb. Insured.^SM are trademarks of Chubb.		5

Chubb Limited News Release

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.


Chubb^®, Chubb logo^® and Chubb. Insured.^SM are trademarks of Chubb.		6

Chubb Limited News Release

●

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 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.


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Chubb Limited News Release

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.

Investor Contact

Susan Spivak: (212) 827-4445; investorrelations@chubb.com

Media Contact

mediarelations@chubb.com


Chubb^®, Chubb logo^® and Chubb. Insured.^SM are trademarks of Chubb.		8

Chubb Limited News Release

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.


Chubb^®, Chubb logo^® and Chubb. Insured.^SM are trademarks of Chubb.		9

Chubb Limited News Release

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.


Chubb^®, Chubb logo^® and Chubb. Insured.^SM are trademarks of Chubb.		10

Chubb Limited News Release

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


Chubb^®, Chubb logo^® and Chubb. Insured.^SM are trademarks of Chubb.		11

Chubb Limited News Release

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^®, Chubb logo^® and Chubb. Insured.^SM are trademarks of Chubb.		12

Chubb Limited News Release

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^®, Chubb logo^® and Chubb. Insured.^SM are trademarks of Chubb.		13

Chubb Limited News Release


Chubb Limited
Summary Consolidated Financial Data
(in millions of U.S. dollars, except share, per share data, and ratios)
(Unaudited)

	Three Months Ended September 30				Nine Months Ended 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


Chubb^®, Chubb logo^® and Chubb. Insured.^SM are trademarks of Chubb.		14

Exhibit 99.2

LOGO

Chubb Limited

Financial Supplement

for the Quarter Ended September 30, 2026

Investor Contact

Susan Spivak: (212) 827-4445

email: investorrelations@chubb.com

This report is for informational purposes only. It should be read in conjunction with documents filed by Chubb Limited with the Securities and Exchange Commission, including the most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

Cautionary Statement Regarding Forward-Looking Statements

Any forward-looking statements made in this financial supplement reflect Chubb Limited’s 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 which may cause actual results to differ materially from such statements. For example, forward-looking statements related to financial performance, including exposures, reserves and recoverables, could be affected by the frequency and severity of unpredictable catastrophic events, actual loss experience, uncertainties in the reserving or settlement process, currency exchange fluctuations, 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 receivable and credit developments among reinsurers.

Our forward-looking statements could also be affected by, among other things, competition, pricing and policy term trends, market acceptance, changes in demand, actual market developments, rating agency action, possible terrorism or the outbreak and effects of war, and such other factors identified in our filings with the Securities and Exchange Commission. 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

Financial Supplement Table of Contents


		Page
I.	Financial Highlights
	- Consolidated Financial Highlights	1

II.	Consolidated Results
	- Consolidated Statement of Operations	2
	- P&C - Consecutive Quarters	3
	- Global P&C - Consecutive Quarters	4
	- Summary Consolidated Balance Sheets	5
	- Product Line	6
	- Consolidated Results by Segment	7 - 8

III.	Segment Results
	- North America Commercial P&C Insurance	9
	- North America Personal P&C Insurance	10
	- North America Agricultural Insurance	11
	- Overseas General Insurance	12
	- Global Reinsurance	13
	- Life Insurance	14
	- Corporate	15

IV.	Balance Sheet Details
	- Loss Reserve Rollforward	16
	- Reinsurance Recoverable Analysis	17
	- Investment Portfolio	18 - 21
	- Net Realized and Unrealized Gains (Losses)	22 - 23
	- Debt and Capital	24
	- Computation of Basic and Diluted Earnings Per Share	25
	- Book Value and Book Value per Common Share	26

V.	Other Disclosures
	- Non-GAAP Financial Measures	27 - 33
	- Glossary	34

Note on Chubb Metrics:

In this financial supplement, 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 Redefined:

Effective Q3 2026, segment income and core operating income have been redefined to exclude amortization expenses related to purchased intangibles other than long-term distribution agreements. Prior-period results have been restated to reflect these changes.

Refer to page 1 for current and prior-period results reflecting the adjusted presentation and information on Non-GAAP disclosures beginning on page 27.

Chubb Limited

Consolidated Financial Highlights

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

(Unaudited)

Note: All dollar amounts in the Financial Supplement are rounded. However, percent changes and ratios are calculated using whole dollars. Accordingly, calculations using rounded dollars may differ.


	Three months ended September 30						Constant $		Constant $		Nine months ended September 30						Constant $		Constant $		Year ended December 31
	2026		2025*		% Change		2025*		% Change		2026		2025*		% Change		2025*		% Change		2025*		2024*


Gross premiums written	$	18,359	$	18,069		1.6%	$	18,079		1.5%	$	52,857	$	50,450		4.8%	$	51,148		3.3%	$	65,946	$	62,003

Net premiums written	$	15,143	$	14,866		1.9%	$	14,870		1.8%	$	43,853	$	41,708		5.1%	$	42,287		3.7%	$	54,842	$	51,468

P&C net premiums written	$	13,183	$	12,934		1.9%	$	12,980		1.6%	$	37,667	$	36,254		3.9%	$	36,824		2.3%	$	47,563	$	45,142

Global P&C net premiums written	$	11,651	$	11,476		1.5%	$	11,522		1.1%	$	35,048	$	33,787		3.7%	$	34,357		2.0%	$	44,637	$	42,439

Life Insurance net premiums written	$	1,960	$	1,932		1.4%	$	1,890		3.7%	$	6,186	$	5,454		13.4%	$	5,463		13.2%	$	7,279	$	6,326

Net premiums earned	$	14,924	$	14,359		3.9%	$	14,347		4.0%	$	42,270	$	39,484		7.1%	$	39,984		5.7%	$	53,014	$	49,846

P&C underwriting income	$	2,061	$	2,259		-8.8%	$	2,247		-8.3%	$	5,790	$	4,331		33.7%	$	4,403		31.5%	$	6,528	$	5,850

P&C CAY underwriting income ex Cats	$	2,255	$	2,183		3.3%	$	2,177		3.6%	$	6,390	$	6,022		6.1%	$	6,090		4.9%	$	8,316	$	7,381

Adjusted net investment income	$	1,888	$	1,776		6.3%	$	1,779		6.2%	$	5,606	$	5,133		9.2%	$	5,167		8.5%	$	6,947	$	6,376

Core operating income	$	2,980	$	3,048		-2.2%	$	3,028		-1.6%	$	8,597	$	7,106		21.0%	$	7,168		19.9%	$	10,133	$	9,337

Adjusted operating cash flow	$	5,550	$	4,509							$	12,829	$	9,741							$	13,906	$	15,904

Net investment income	$	1,791	$	1,648		8.6%	$	1,648		8.6%	$	5,260	$	4,777		10.1%	$	4,802		9.5%	$	6,465	$	5,930

Chubb net income	$	2,844	$	2,801		1.5%					$	8,018	$	7,100		12.9%					$	10,310	$	9,272

Operating cash flow	$	6,071	$	3,639							$	13,748	$	8,756							$	12,816	$	16,182

P&C combined ratio
Loss and loss expense ratio		58.7%		56.7%								57.1%		60.8%								59.1%		60.4%
Policy acquisition cost and administrative expense ratio		25.4%		25.1%								26.9%		26.5%								26.6%		26.2%



Combined ratio		84.1%		81.8%								84.0%		87.3%								85.7%		86.6%

P&C Current Accident Year (CAY) combined ratio ex Catastrophe losses (Cats)
CAY loss and loss expense ratio ex Cats		57.3%		57.5%								55.5%		56.0%								55.3%		57.0%
CAY policy acquisition cost and administrative expense ratio ex Cats		25.3%		25.0%								26.8%		26.4%								26.6%		26.1%



CAY combined ratio ex Cats		82.6%		82.5%								82.3%		82.4%								81.9%		83.1%

ROE		15.3%		15.9%								14.5%		13.9%								15.0%		15.0%
Core operating return on tangible equity (ROTE)		21.6%		24.8%								21.2%		19.9%								20.9%		21.9%
Core operating return on equity (ROE)		14.9%		16.6%								14.6%		13.2%								14.0%		14.1%

Effective tax rate		18.9%		21.9%								20.3%		20.4%								18.9%		16.3%
Core operating effective tax rate		19.9%		20.5%								19.5%		19.8%								19.5%		18.1%

Diluted earnings per share

Chubb net income	$	7.30	$	6.99		4.4%					$	20.46	$	17.61		16.2%					$	25.68	$	22.70

Core operating income	$	7.66	$	7.60		0.8%					$	21.94	$	17.62		24.5%					$	25.24	$	22.86

Weighted average diluted common shares outstanding		389.4		400.9								391.8		403.2								401.5		408.5


					% Change				% Change				% Change
	September 30		June 30		3Q-26 vs.		December 31		3Q-26 vs.		September 30		3Q-26 vs.
	2026		2026		2Q-26		2025		4Q-25		2025		3Q-25

Book value per common share	$	191.43	$	195.45		-2.1%	$	188.59		1.5%	$	182.22		5.1%
Tangible book value per common share	$	126.96	$	131.93		-3.8%	$	126.22		0.6%	$	120.13		5.7%

Book value per common share, excl. AOCI	$	216.22	$	210.81		2.6%	$	201.31		7.4%	$	194.63		11.1%
Tangible book value per common share, excl. AOCI	$	150.70	$	145.67		3.5%	$	136.91		10.1%	$	130.60		15.4%

*Core operating income has been redefined to exclude amortization expenses related to purchased intangibles other than long-term distribution agreements. Refer to the table of contents page for additional information.


Financial Highlights		Page 1

Chubb Limited

Statement of Operations - Consecutive Quarters

(in millions of U.S. dollars)

(Unaudited)


Consolidated Statements of Operations	3Q-26			2Q-26			1Q-26			4Q-25			3Q-25			YTD 2026			YTD 2025			Full Year 2025

Gross premiums written	$	18,359		$	17,947		$	16,551		$	15,496		$	18,069		$	52,857		$	50,450		$	65,946

Net premiums written		15,143			14,705			14,005			13,134			14,866			43,853			41,708			54,842

Net premiums earned		14,924			13,889			13,457			13,530			14,359			42,270			39,484			53,014

Adjusted losses and loss expenses ⁽¹⁾		7,521			6,699			6,139			6,289			6,958			20,359			20,427			26,716

Realized (gains) losses on crop derivatives		(5	)		8			8			8			7			11			8			16



Losses and loss expenses		7,526			6,691			6,131			6,281			6,951			20,348			20,419			26,700

Adjusted policy benefits ⁽²⁾		1,479			1,480			1,813			1,355			1,422			4,772			4,076			5,431

Realized (gains) losses from investment portfolios supporting participating policies		(22	)		(72	)		16			27			41			(78	)		40			67

(Gains) losses from fair value changes in separate account assets		24			(63	)		12			(127	)		9			(27	)		31			(96	)



Policy benefits		1,477			1,615			1,785			1,455			1,372			4,877			4,005			5,460

Policy acquisition costs		2,739			2,632			2,596			2,556			2,563			7,967			7,291			9,847

Administrative expenses		1,126			1,168			1,149			1,161			1,138			3,443			3,343			4,504

Adjusted net investment income ⁽³⁾		1,888			1,880			1,838			1,814			1,776			5,606			5,133			6,947

Other (income) expense from private equity partnerships		(97	)		(119	)		(127	)		(125	)		(127	)		(343	)		(349	)		(474	)

Amortization expense of fair value adjustment on acquired invested assets		-			(1	)		(2	)		(1	)		(1	)		(3	)		(7	)		(8	)



Net investment income		1,791			1,760			1,709			1,688			1,648			5,260			4,777			6,465

Adjusted realized gains (losses) ⁽⁴⁾		(482	)		98			(383	)		(81	)		331			(767	)		375			294

Realized gains (losses) from investment portfolios supporting participating policies		22			72			(16	)		(27	)		(41	)		78			(40	)		(67	)

Realized gains (losses) on crop derivatives		5			(8	)		(8	)		(8	)		(7	)		(11	)		(8	)		(16	)



Net realized gains (losses)		(455	)		162			(407	)		(116	)		283			(700	)		327			211

Market risk benefits gains (losses)		(65	)		5			14			(37	)		(142	)		(46	)		(251	)		(288	)

Adjusted interest expense ⁽⁵⁾		210			205			203			210			203			618			575			785

Amortization benefit of fair value adjustment on acquired long term debt		(6	)		(5	)		(5	)		(5	)		(6	)		(16	)		(16	)		(21	)



Interest expense		204			200			198			205			197			602			559			764

Gains (losses) from fair value changes in separate account assets		(24	)		63			(12	)		127			(9	)		27			(31	)		96

Net realized gains (losses) related to unconsolidated entities		282			2			27			282			(84	)		311			431			713

Other income (expense) from private equity partnerships		97			119			127			125			127			343			349			474

Other income (expense) - operating		9			12			19			(18	)		9			40			32			14



Other income (expense)		364			196			161			516			43			721			781			1,297

Adjusted amortization expense of purchased intangibles ⁽⁶⁾		17			17			17			17			15			51			46			63

Amortization expense of purchased intangibles other than long-term distribution agreements		57			57			56			60			60			170			178			238



Amortization expense of purchased intangibles		74			74			73			77			75			221			224			301

Integration expenses and severance		11			8			9			76			1			28			3			79

Income tax expense (benefit)		666			742			646			597			787			2,054			1,825			2,422



Net income	$	2,736		$	2,882		$	2,347		$	3,173		$	3,107		$	7,965		$	7,449		$	10,622

Less: NCI income (loss)		(108	)		28			27			(37	)		306			(53	)		349			312



Chubb net income	$	2,844		$	2,854		$	2,320		$	3,210		$	2,801		$	8,018		$	7,100		$	10,310

(1) Adjusted losses and loss expenses used throughout this report includes realized gains and losses on crop derivatives.

(2) Adjusted policy benefits used throughout this report includes gains and losses from fair value changes in separate account assets that do not qualify for separate account reporting under U.S. GAAP and realized gains and losses on underlying investments supporting the liabilities of certain participating policies related to the policyholders’ share of gains and losses.

(3) Adjusted net investment income used throughout this report excludes Amortization expense of fair value adjustment on acquired invested assets and includes income from private equity partnerships where we hold more than 3% ownership.

(4) Adjusted realized gains (losses) used throughout this report 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.

(5) Adjusted interest expense used throughout this report excludes Amortization benefit of fair value adjustment on acquired long term debt.

(6) Adjusted amortization expense of purchased intangibles used throughout this report excludes Amortization expense of purchased intangibles other than long-term distribution agreements.


Statement of Operations		Page 2

Chubb Limited

P&C Underwriting Results - Consecutive Quarters

(in millions of U.S. dollars, except ratios)

(Unaudited)


P&C	3Q-26		2Q-26		1Q-26		4Q-25		3Q-25		YTD 2026		YTD 2025		Full Year 2025
Gross premiums written	$	16,344	$	15,953	$	14,206	$	13,612	$	16,074	$	46,503	$	44,811	$	58,423
Net premiums written		13,183		12,768		11,716		11,309		12,934		37,667		36,254		47,563
Net premiums earned		12,967		11,955		11,189		11,716		12,434		36,111		34,074		45,790
Adjusted losses and loss expenses		7,487		6,677		6,111		6,257		6,927		20,275		20,350		26,607
Policy benefits		124		106		113		109		119		343		361		470
Policy acquisition costs		2,371		2,280		2,234		2,214		2,204		6,885		6,303		8,517
Administrative expenses		924		955		939		939		925		2,818		2,729		3,668

P&C underwriting income	$	2,061	$	1,937	$	1,792	$	2,197	$	2,259	$	5,790	$	4,331	$	6,528

P&C CAY underwriting income ex Cats	$	2,255	$	2,129	$	2,006	$	2,294	$	2,183	$	6,390	$	6,022	$	8,316

% Change versus prior year period
Net premiums written		1.9%		3.0%		7.2%		7.7%		5.3%		3.9%		4.6%		5.4%
Net premiums earned		4.3%		5.5%		8.6%		6.2%		5.0%		6.0%		4.7%		5.1%

Net premiums written constant $		1.6%		1.4%		4.1%		6.9%		4.7%		2.3%		5.2%		5.6%
Net premiums earned constant $		4.0%		3.6%		5.9%		5.3%		4.2%		4.5%		5.1%		5.2%

Combined ratio
Loss and loss expense ratio		58.7%		56.7%		55.6%		54.3%		56.7%		57.1%		60.8%		59.1%
Policy acquisition cost ratio		18.3%		19.1%		20.0%		18.9%		17.7%		19.1%		18.5%		18.6%
Administrative expense ratio		7.1%		8.0%		8.4%		8.0%		7.4%		7.8%		8.0%		8.0%

Combined ratio		84.1%		83.8%		84.0%		81.2%		81.8%		84.0%		87.3%		85.7%


CAY combined ratio ex Cats
CAY loss and loss expense ratio ex Cats		57.3%		55.2%		53.8%		53.2%		57.5%		55.5%		56.0%		55.3%
CAY policy acquisition cost and administrative expense ratio ex Cats		25.3%		27.0%		28.3%		27.2%		25.0%		26.8%		26.4%		26.6%

CAY combined ratio ex Cats		82.6%		82.2%		82.1%		80.4%		82.5%		82.3%		82.4%		81.9%


Other ratios
Net premiums written/gross premiums written		81%		80%		82%		83%		80%		81%		81%		81%

Expense ratio		25.4%		27.1%		28.4%		26.9%		25.1%		26.9%		26.5%		26.6%
Expense ratio excluding A&H		23.7%		25.5%		26.8%		25.3%		23.6%		25.2%		24.9%		25.0%

Net catastrophe losses - pre-tax	$	705	$	475	$	500	$	365	$	285	$	1,680	$	2,556	$	2,921
Unfavorable (favorable) prior period development (PPD) - pre-tax	$	(511)	$	(283)	$	(286)	$	(268)	$	(361)	$	(1,080)	$	(865)	$	(1,133)

Impact of catastrophe losses on combined ratio - Unfavorable (favorable)		5.4%		4.0%		4.5%		3.0%		2.3%		4.7%		7.4%		6.3%
Impact of PPD on combined ratio - Unfavorable (favorable)		-3.9%		-2.4%		-2.6%		-2.3%		-3.0%		-3.0%		-2.5%		-2.5%
Impact of Cats and PPD on combined ratio - Unfavorable (favorable)		1.5%		1.6%		1.9%		0.7%		-0.7%		1.7%		4.9%		3.8%


P&C Results		Page 3

Chubb Limited

Global P&C Underwriting Results - Consecutive Quarters

(in millions of U.S. dollars, except ratios)

(Unaudited)


Global P&C	3Q-26		2Q-26		1Q-26		4Q-25		3Q-25		YTD 2026		YTD 2025		Full Year 2025
Gross premiums written	$	13,746	$	14,841	$	13,705	$	13,005	$	13,558	$	42,292	$	40,751	$	53,756
Net premiums written		11,651		11,992		11,405		10,850		11,476		35,048		33,787		44,637
Net premiums earned		11,408		11,314		11,000		11,055		10,939		33,722		31,816		42,871
Adjusted losses and loss expenses		6,181		6,151		6,058		5,817		5,703		18,390		18,551		24,368
Policy benefits		124		106		113		109		119		343		361		470
Policy acquisition costs		2,287		2,235		2,210		2,196		2,118		6,732		6,152		8,348
Administrative expenses		922		951		945		954		920		2,818		2,720		3,674

Global P&C underwriting income	$	1,894	$	1,871	$	1,674	$	1,979	$	2,079	$	5,439	$	4,032	$	6,011

Global P&C CAY underwriting income ex Cats	$	2,085	$	2,049	$	1,964	$	2,130	$	2,029	$	6,098	$	5,766	$	7,896

% Change versus prior year period
Net premiums written		1.5%		2.8%		7.1%		6.6%		5.3%		3.7%		4.7%		5.2%
Net premiums earned		4.3%		5.4%		8.5%		5.3%		4.9%		6.0%		4.8%		4.9%

Net premiums written constant $		1.1%		1.1%		3.9%		5.7%		4.6%		2.0%		5.3%		5.4%
Net premiums earned constant $		4.0%		3.4%		5.8%		4.4%		4.1%		4.4%		5.2%		5.0%

Combined ratio
Loss and loss expense ratio		55.3%		55.3%		56.1%		53.6%		53.2%		55.6%		59.4%		57.9%
Policy acquisition cost ratio		20.0%		19.8%		20.1%		19.9%		19.4%		19.9%		19.3%		19.5%
Administrative expense ratio		8.1%		8.4%		8.6%		8.6%		8.4%		8.4%		8.6%		8.6%

Combined ratio		83.4%		83.5%		84.8%		82.1%		81.0%		83.9%		87.3%		86.0%


CAY combined ratio ex Cats
CAY loss and loss expense ratio ex Cats		53.7%		53.8%		53.5%		52.6%		54.0%		53.7%		54.2%		53.8%
CAY policy acquisition cost and administrative expense ratio ex Cats		28.1%		28.1%		28.7%		28.3%		27.6%		28.2%		27.7%		27.9%

CAY combined ratio ex Cats		81.8%		81.9%		82.2%		80.9%		81.6%		81.9%		81.9%		81.7%


Other ratios
Net premiums written/gross premiums written		85%		81%		83%		83%		85%		83%		83%		83%

Expense ratio		28.1%		28.2%		28.7%		28.5%		27.8%		28.3%		27.9%		28.1%
Expense ratio excluding A&H		26.4%		26.6%		27.1%		26.9%		26.2%		26.7%		26.3%		26.4%

Net catastrophe losses - pre-tax	$	700	$	461	$	496	$	361	$	281	$	1,657	$	2,536	$	2,897
Unfavorable (favorable) prior period development (PPD) - pre-tax	$	(509)	$	(283)	$	(206)	$	(210)	$	(331)	$	(998)	$	(802)	$	(1,012)

Impact of catastrophe losses on combined ratio - Unfavorable (favorable)		6.1%		4.1%		4.5%		3.2%		2.6%		4.9%		7.9%		6.8%
Impact of PPD on combined ratio - Unfavorable (favorable)		-4.5%		-2.5%		-1.9%		-2.0%		-3.2%		-2.9%		-2.5%		-2.5%
Impact of Cats and PPD on combined ratio - Unfavorable (favorable)		1.6%		1.6%		2.6%		1.2%		-0.6%		2.0%		5.4%		4.3%


Global P&C		Page 4

Chubb Limited

Summary Consolidated Balance Sheets

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

(Unaudited)


	September 30 2026		June 30 2026		March 31 2026		December 31 2025
Assets
Short-term investments, at fair value	$	5,293	$	5,458	$	5,067	$	4,840
Fixed maturities available for sale, at fair value		125,804		125,518		123,433		122,680
Private debt held-for-investment, at amortized cost		2,261		2,252		2,477		2,411
Equity securities, at fair value		10,760		11,014		10,916		10,801
Private equities		17,528		17,385		17,132		17,239
Other investments		10,861		11,022		11,170		10,749

Total investments		172,507		172,649		170,195		168,720
Cash and restricted cash		3,010		2,753		2,634		2,470

Total invested assets		175,517		175,402		172,829		171,190

Securities lending collateral		2,295		1,870		2,277		2,500
Insurance and reinsurance balances receivable		18,188		19,068		17,101		15,944
Reinsurance recoverable on losses and loss expenses		20,611		20,284		20,159		20,338
Deferred policy acquisition costs		11,422		10,744		10,452		10,008
Value of business acquired (VOBA)		3,011		2,828		2,926		2,975
Prepaid reinsurance premiums		4,484		4,683		4,105		3,874
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		26,488		26,587		26,448
Deferred tax assets		1,455		1,237		1,315		1,312
Separate account assets		7,340		7,471		6,718		6,925
Other assets		12,521		11,247		10,987		10,813

Total assets	$	283,509	$	281,322	$	275,456	$	272,327


Liabilities
Unpaid losses and loss expenses	$	91,829	$	89,669	$	88,915	$	88,018
Unearned premiums		28,608		28,511		27,180		26,279
Future policy benefits		21,133		20,159		19,273		18,420
Market risk benefits		530		505		642		659
Policyholder account balances		9,445		9,102		8,782		8,576
Separate account liabilities		7,340		7,471		6,718		6,925
Insurance and reinsurance balances payable		8,837		9,345		8,486		8,349
Securities lending payable		2,295		1,870		2,277		2,500
Accounts payable, accrued expenses, and other liabilities		14,042		13,433		13,617		13,432
Deferred tax liabilities		1,852		1,870		1,759		1,741
Short-term and long-term debt		18,658		18,115		17,470		17,227
Hybrid debt		428		427		425		422

Total liabilities		204,997		200,477		195,544		192,548

Shareholders’ equity
Chubb shareholders’ equity, excl. AOCI		82,710		81,295		79,699		78,732
Accumulated other comprehensive income (loss) (AOCI)		(9,483)		(5,923)		(5,911)		(4,975)

Chubb shareholders’ equity		73,227		75,372		73,788		73,757
Noncontrolling interests		5,285		5,473		6,124		6,022

Total shareholders’ equity		78,512		80,845		79,912		79,779

Total liabilities and shareholders’ equity	$	283,509	$	281,322	$	275,456	$	272,327


Book value per common share	$	191.43	$	195.45	$	189.93	$	188.59
% change over prior quarter		-2.1%		2.9%		0.7%		3.5%
Tangible book value per common share ⁽¹⁾	$	126.96	$	131.93	$	126.65	$	126.22
% change over prior quarter		-3.8%		4.2%		0.3%		5.1%

Book value per common share, excl. AOCI	$	216.22	$	210.81	$	205.15	$	201.31
% change over prior quarter		2.6%		2.8%		1.9%		3.4%
Tangible book value per common share, excl. AOCI	$	150.70	$	145.67	$	140.35	$	136.91
% change over prior quarter		3.5%		3.8%		2.5%		4.8%

(1) Refer to page 26 in this financial supplement for more details.


Consol Bal Sheet		Page 5

Chubb Limited

Consolidated Net Premiums Written by Product Line

(in millions of U.S. dollars)

(Unaudited)


							Constant $		YTD		YTD				Constant $
	3Q-26		3Q-25		% Change		% Change		2026		2025		% Change		% Change
Net premiums written

Property and other short-tail lines	$	2,335	$	2,428		-3.8%		-4.3%	$	7,288	$	7,683		-5.1%		-7.1%
Commercial casualty		2,684		2,627		2.2%		2.1%		7,798		7,268		7.3%		6.1%
Financial lines		1,307		1,349		-3.2%		-3.5%		3,731		3,706		0.7%		-0.9%
Workers’ compensation		504		537		-6.2%		-6.2%		1,711		1,722		-0.6%		-0.6%
Commercial multiple peril⁽¹⁾		489		462		5.9%		6.0%		1,480		1,359		8.9%		8.8%
Surety		249		203		22.3%		20.0%		716		628		13.9%		10.8%

Total Commercial P&C lines		7,568		7,606		-0.5%		-0.8%		22,724		22,366		1.6%		0.2%

Agriculture		1,532		1,458		5.1%		5.1%		2,619		2,467		6.2%		6.2%

Personal homeowners		1,568		1,473		6.4%		6.2%		4,481		4,151		8.0%		7.2%
Personal automobile		834		801		4.1%		1.0%		2,550		2,271		12.3%		6.7%
Personal other		506		447		13.2%		13.2%		1,596		1,433		11.3%		9.0%

Total Personal lines ⁽²⁾		2,908		2,721		6.9%		5.8%		8,627		7,855		9.8%		7.4%

Global A&H - P&C		888		845		5.2%		5.9%		2,693		2,474		8.9%		6.0%

Reinsurance lines		287		304		-5.6%		-5.6%		1,004		1,092		-8.1%		-8.2%


Total P&C	$	13,183	$	12,934		1.9%		1.6%	$	37,667	$	36,254		3.9%		2.3%


Life Insurance		1,960		1,932		1.4%		3.7%		6,186		5,454		13.4%		13.2%


Total Consolidated	$	15,143	$	14,866		1.9%		1.8%	$	43,853	$	41,708		5.1%		3.7%

(1) Commercial multiple peril represents retail package business (property and general liability).

(2) For purposes of this schedule only, certain 2025 Personal lines results have been reclassified among Personal lines categories to align with current-year reporting. This reclassification did not impact total Personal lines results.


Product Line		Page 6

Chubb Limited

Consolidated Results

(in millions of U.S. dollars, except ratios)

(Unaudited)


		Three months ended September 30, 2026
	North America Commercial P&C			North America Personal P&C		North America Agricultural		Overseas General		Global				Total		Life		Total
Q3 2026		Insurance		Insurance		Insurance		Insurance		Reinsurance		Corporate		P&C		Insurance		Consolidated
Net premiums written		$	5,512	$	1,909	$	1,532	$	3,943	$	287	$	-	$	13,183	$	1,960	$	15,143
% of total net premiums written			36%		13%		10%		26%		2%		0%		87%		13%		100%
Net premiums earned			5,222		1,846		1,559		4,053		287		-		12,967		1,957		14,924
Adjusted losses and loss expenses			3,422		668		1,306		1,910		130		51		7,487		34		7,521
Adjusted policy benefits			-		-		-		124		-		-		124		1,355		1,479
Policy acquisition costs			750		359		84		1,085		93		-		2,371		368		2,739
Administrative expenses			333		87		2		383		9		110		924		202		1,126

Underwriting income (loss)			717		732		167		551		55		(161)		2,061		(2)		2,059
Adjusted net investment income			985		143		21		318		114		(14)		1,567		321		1,888
Other income (expense) - operating			(17)		(3)		(1)		(14)		-		(8)		(43)		52		9
Adjusted amortization expense of purchased intangibles			-		-		-		(15)		-		-		(15)		(2)		(17)

Segment income (loss)		$	1,685	$	872	$	187	$	840	$	169	$	(183)	$	3,570	$	369	$	3,939


Combined ratio			86.3%		60.3%		89.3%		86.4%		80.7%				84.1%
CAY combined ratio ex Cats			82.1%		69.9%		89.0%		84.3%		78.7%				82.6%

		Three months ended September 30, 2025
	North America Commercial P&C			North America Personal P&C		North America Agricultural		Overseas General		Global				Total		Life		Total
Q3 2025		Insurance		Insurance		Insurance		Insurance		Reinsurance		Corporate		P&C		Insurance		Consolidated
Net premiums written		$	5,663	$	1,814	$	1,458	$	3,695	$	304	$	-	$	12,934	$	1,932	$	14,866
% of total net premiums written			38%		12%		10%		25%		2%		0%		87%		13%		100%
Net premiums earned			5,080		1,741		1,495		3,803		315		-		12,434		1,925		14,359
Adjusted losses and loss expenses			3,083		713		1,224		1,707		139		61		6,927		31		6,958
Adjusted policy benefits			-		-		-		119		-		-		119		1,303		1,422
Policy acquisition costs			708		339		86		975		96		-		2,204		359		2,563
Administrative expenses			348		82		5		368		9		113		925		213		1,138

Underwriting income (loss)			941		607		180		634		71		(174)		2,259		19		2,278
Adjusted net investment income			978		123		20		288		100		(17)		1,492		284		1,776
Other income (expense) - operating			(10)		(1)		-		(8)		-		(3)		(22)		31		9
Adjusted amortization expense of purchased intangibles			-		-		-		(13)		-		-		(13)		(2)		(15)

Segment income (loss)		$	1,909	$	729	$	200	$	901	$	171	$	(194)	$	3,716	$	332	$	4,048


Combined ratio			81.5%		65.1%		88.0%		83.3%		77.4%				81.8%
CAY combined ratio ex Cats			80.8%		72.1%		89.7%		84.4%		75.6%				82.5%


Consol Results - QTD		Page 7

Chubb Limited

Consolidated Results

(in millions of U.S. dollars, except ratios)

(Unaudited)


	Nine months ended September 30, 2026
	North America Commercial P&C		North America Personal P&C		North America Agricultural		Overseas General		Global				Total		Life		Total
YTD 2026	Insurance		Insurance		Insurance		Insurance		Reinsurance		Corporate		P&C		Insurance		Consolidated
Net premiums written	$	16,001	$	5,644	$	2,619	$	12,399	$	1,004	$	-	$	37,667	$	6,186	$	43,853
% of total net premiums written		37%		13%		6%		28%		2%		0%		86%		14%		100%
Net premiums earned		15,584		5,409		2,389		11,817		912		-		36,111		6,159		42,270
Adjusted losses and loss expenses		10,014		2,493		1,885		5,271		388		224		20,275		84		20,359
Adjusted policy benefits		-		-		-		343		-		-		343		4,429		4,772
Policy acquisition costs		2,232		1,053		153		3,154		293		-		6,885		1,082		7,967
Administrative expenses		1,038		258		-		1,169		26		327		2,818		625		3,443

Underwriting income (loss)		2,300		1,605		351		1,880		205		(551)		5,790		(61)		5,729
Adjusted net investment income		2,938		420		68		931		332		(32)		4,657		949		5,606
Other income (expense) - operating		(46)		(9)		(3)		(26)		-		(24)		(108)		148		40
Adjusted amortization expense of purchased intangibles		-		-		-		(43)		-		-		(43)		(8)		(51)

Segment income (loss)	$	5,192	$	2,016	$	416	$	2,742	$	537	$	(607)	$	10,296	$	1,028	$	11,324


Combined ratio		85.2%		70.3%		85.3%		84.1%		77.5%				84.0%
CAY combined ratio ex Cats		81.9%		70.4%		87.7%		85.0%		76.3%				82.3%

	Nine months ended September 30, 2025
	North America Commercial P&C		North America Personal P&C		North America Agricultural		Overseas General		Global				Total		Life		Total
YTD 2025	Insurance		Insurance		Insurance		Insurance		Reinsurance		Corporate		P&C		Insurance		Consolidated
Net premiums written	$	16,173	$	5,304	$	2,467	$	11,218	$	1,092	$	-	$	36,254	$	5,454	$	41,708
% of total net premiums written		38%		13%		6%		27%		3%		0%		87%		13%		100%
Net premiums earned		15,245		4,996		2,258		10,554		1,021		-		34,074		5,410		39,484
Adjusted losses and loss expenses		9,372		3,628		1,799		4,893		513		145		20,350		77		20,427
Adjusted policy benefits		-		-		-		361		-		-		361		3,715		4,076
Policy acquisition costs		2,132		1,001		151		2,725		294		-		6,303		988		7,291
Administrative expenses		1,049		251		9		1,067		29		324		2,729		614		3,343

Underwriting income (loss)		2,692		116		299		1,508		185		(469)		4,331		16		4,347
Adjusted net investment income		2,845		361		63		847		255		(67)		4,304		829		5,133
Other income (expense) - operating		(26)		(2)		(1)		(19)		-		(23)		(71)		103		32
Adjusted amortization expense of purchased intangibles		-		-		-		(39)		-		-		(39)		(7)		(46)

Segment income (loss)	$	5,511	$	475	$	361	$	2,297	$	440	$	(559)	$	8,525	$	941	$	9,466


Combined ratio		82.3%		97.7%		86.8%		85.7%		81.9%				87.3%
CAY combined ratio ex Cats		81.1%		73.1%		88.7%		85.1%		74.5%				82.4%


Consol Results - YTD		Page 8

Chubb Limited

Segment Results - Consecutive Quarters

(in millions of U.S. dollars, except ratios)

(Unaudited)

North America Commercial P&C Insurance


																YTD			YTD			Full Year
	3Q-26			2Q-26			1Q-26			4Q-25			3Q-25			2026			2025			2025
Gross premiums written	$	6,446		$	7,194		$	5,890		$	6,177		$	6,652		$	19,530		$	19,386		$	25,563
Net premiums written		5,512			5,594			4,895			5,107			5,663			16,001			16,173			21,280
Net premiums earned		5,222			5,214			5,148			5,136			5,080			15,584			15,245			20,381
Losses and loss expenses		3,422			3,372			3,220			2,941			3,083			10,014			9,372			12,313
Policy acquisition costs		750			730			752			759			708			2,232			2,132			2,891
Administrative expenses		333			351			354			345			348			1,038			1,049			1,394

Underwriting income		717			761			822			1,091			941			2,300			2,692			3,783
Adjusted net investment income		985			982			971			995			978			2,938			2,845			3,840
Other income (expense) - operating		(17	)		(15	)		(14	)		(33	)		(10	)		(46	)		(26	)		(59	)

Segment income	$	1,685		$	1,728		$	1,779		$	2,053		$	1,909		$	5,192		$	5,511		$	7,564

CAY underwriting income ex Cats	$	940		$	952		$	935		$	1,045		$	987		$	2,827		$	2,901		$	3,946

Combined ratio
Loss and loss expense ratio		65.5%			64.7%			62.5%			57.2%			60.7%			64.3%			61.5%			60.4%
Policy acquisition cost ratio		14.4%			14.0%			14.6%			14.8%			13.9%			14.2%			14.0%			14.2%
Administrative expense ratio		6.4%			6.7%			6.9%			6.8%			6.9%			6.7%			6.8%			6.8%

Combined ratio		86.3%			85.4%			84.0%			78.8%			81.5%			85.2%			82.3%			81.4%


CAY combined ratio ex Cats
CAY loss and loss expense ratio ex Cats		61.4%			61.1%			60.4%			58.6%			60.4%			60.9%			60.3%			59.9%
CAY policy acquisition cost and administrative expense ratio ex Cats		20.7%			20.7%			21.4%			21.3%			20.4%			21.0%			20.8%			20.9%

CAY combined ratio ex Cats		82.1%			81.8%			81.8%			79.9%			80.8%			81.9%			81.1%			80.8%


Net catastrophe losses - pre-tax	$	237		$	302		$	202		$	129		$	72		$	741		$	455		$	584
Unfavorable (favorable) prior period development (PPD) - pre-tax	$	(14	)	$	(111	)	$	(89	)	$	(175	)	$	(26	)	$	(214	)	$	(246	)	$	(421	)

% Change versus prior year period
Net premiums written		-2.7%			-2.3%			2.3%			4.3%			2.9%			-1.1%			3.1%			3.4%
Net premiums earned		2.8%			0.7%			3.2%			0.4%			-0.6%			2.2%			2.4%			1.9%

Other ratios
Net premiums written/gross premiums written		86%			78%			83%			83%			85%			82%			83%			83%

Production by Size - Net premiums written ⁽¹⁾
Major Accounts & Specialty	$	3,210		$	3,257		$	2,772		$	3,003		$	3,379		$	9,239		$	9,688		$	12,691
Commercial		2,302			2,337			2,123			2,104			2,284			6,762			6,485			8,589

Total	$	5,512		$	5,594		$	4,895		$	5,107		$	5,663		$	16,001		$	16,173		$	21,280

(1) Major Accounts & Specialty: large corporate accounts and wholesale business. Commercial: principally middle market and small commercial accounts.


NA Commercial		Page 9

Chubb Limited

Segment Results - Consecutive Quarters

(in millions of U.S. dollars, except ratios)

(Unaudited)

North America Personal P&C Insurance


																YTD			YTD			Full Year
	3Q-26			2Q-26			1Q-26			4Q-25			3Q-25			2026			2025			2025

Gross premiums written	$	2,182		$	2,315		$	1,934		$	1,984		$	2,078		$	6,431		$	6,126		$	8,110
Net premiums written		1,909			2,054			1,681			1,720			1,814			5,644			5,304			7,024
Net premiums earned		1,846			1,817			1,746			1,767			1,741			5,409			4,996			6,763
Losses and loss expenses		668			791			1,034			889			713			2,493			3,628			4,517
Policy acquisition costs		359			347			347			336			339			1,053			1,001			1,337
Administrative expenses		87			86			85			85			82			258			251			336

Underwriting income		732			593			280			457			607			1,605			116			573
Net investment income		143			140			137			125			123			420			361			486
Other income (expense) - operating		(3	)		(3	)		(3	)		(1	)		(1	)		(9	)		(2	)		(3	)

Segment income	$	872		$	730		$	414		$	581		$	729		$	2,016		$	475		$	1,056

CAY underwriting income ex Cats	$	556		$	546		$	501		$	533		$	486		$	1,603		$	1,358		$	1,891

Combined ratio
Loss and loss expense ratio		36.2%			43.5%			59.3%			50.4%			41.0%			46.1%			72.6%			66.8%
Policy acquisition cost ratio		19.4%			19.1%			19.9%			18.9%			19.4%			19.4%			20.1%			19.7%
Administrative expense ratio		4.7%			4.7%			4.8%			4.8%			4.7%			4.8%			5.0%			5.0%

Combined ratio		60.3%			67.3%			84.0%			74.1%			65.1%			70.3%			97.7%			91.5%


CAY combined ratio ex Cats
CAY loss and loss expense ratio ex Cats		45.8%			46.1%			46.6%			46.2%			48.0%			46.2%			48.3%			47.7%
CAY policy acquisition cost and administrative expense ratio ex Cats		24.1%			23.8%			24.7%			23.7%			24.1%			24.2%			24.8%			24.6%

CAY combined ratio ex Cats		69.9%			69.9%			71.3%			69.9%			72.1%			70.4%			73.1%			72.3%


Net catastrophe losses - pre-tax	$	203		$	126		$	222		$	76		$	161		$	551		$	1,645		$	1,721
Unfavorable (favorable) prior period development (PPD) - pre-tax	$	(379	)	$	(173	)	$	(1	)	$	-		$	(282	)	$	(553	)	$	(403	)	$	(403	)

% Change versus prior year period
Net premiums written		5.3%			6.0%			8.3%			6.1%			8.1%			6.4%			8.0%			7.5%
Net premiums earned		6.0%			8.1%			10.9%			8.5%			10.5%			8.3%			9.6%			9.3%

Other ratios
Net premiums written/gross premiums written		88%			89%			87%			87%			87%			88%			87%			87%


NA Personal		Page 10

Chubb Limited

Segment Results - Consecutive Quarters

(in millions of U.S. dollars, except ratios)

(Unaudited)

North America Agricultural Insurance


																YTD			YTD			Full Year
	3Q-26			2Q-26			1Q-26			4Q-25			3Q-25			2026			2025			2025
Gross premiums written	$	2,598		$	1,112		$	501		$	607		$	2,516		$	4,211		$	4,060		$	4,667
Net premiums written		1,532			776			311			459			1,458			2,619			2,467			2,926
Net premiums earned		1,559			641			189			661			1,495			2,389			2,258			2,919
Adjusted losses and loss expenses		1,306			526			53			440			1,224			1,885			1,799			2,239
Policy acquisition costs		84			45			24			18			86			153			151			169
Administrative expenses		2			4			(6	)		(15	)		5			-			9			(6	)

Underwriting income		167			66			118			218			180			351			299			517
Net investment income		21			21			26			23			20			68			63			86
Other income (expense) - operating		(1	)		(2	)		-			(1	)		-			(3	)		(1	)		(2	)

Segment income	$	187		$	85		$	144		$	240		$	200		$	416		$	361		$	601

CAY underwriting income ex Cats	$	170		$	80		$	42		$	164		$	154		$	292		$	256		$	420

Combined ratio
Loss and loss expense ratio		83.8%			82.0%			27.9%			66.5%			81.9%			78.9%			79.7%			76.7%
Policy acquisition cost ratio		5.3%			7.2%			12.6%			2.8%			5.8%			6.4%			6.7%			5.8%
Administrative expense ratio		0.2%			0.5%			-3.0%			-2.3%			0.3%			0.0%			0.4%			-0.2%

Combined ratio		89.3%			89.7%			37.5%			67.0%			88.0%			85.3%			86.8%			82.3%


CAY combined ratio ex Cats
CAY loss and loss expense ratio ex Cats		83.5%			80.0%			68.0%			66.2%			83.6%			81.3%			81.5%			78.5%
CAY policy acquisition cost and administrative expense ratio ex Cats		5.5%			7.6%			9.6%			3.8%			6.1%			6.4%			7.2%			6.5%

CAY combined ratio ex Cats		89.0%			87.6%			77.6%			70.0%			89.7%			87.7%			88.7%			85.0%


Net catastrophe losses - pre-tax	$	5		$	14		$	4		$	4		$	4		$	23		$	20		$	24
Unfavorable (favorable) prior period development (PPD) - pre-tax	$	(2	)	$	-		$	(80	)	$	(58	)	$	(30	)	$	(82	)	$	(63	)	$	(121	)

% Change versus prior year period
Net premiums written		5.1%			6.0%			12.7%			45.1%			5.6%			6.2%			3.4%			8.2%
Net premiums earned		4.3%			7.2%			14.6%			24.0%			5.4%			5.8%			3.9%			7.9%

Other ratios
Net premiums written/gross premiums written		59%			70%			62%			76%			58%			62%			61%			63%


NA Agriculture		Page 11

Chubb Limited

Segment Results - Consecutive Quarters

(in millions of U.S. dollars, except ratios)

(Unaudited)

Overseas General Insurance


																YTD			YTD			Full Year
	3Q-26			2Q-26			1Q-26			4Q-25			3Q-25			2026			2025			2025
Gross premiums written	$	4,806		$	4,903		$	5,478		$	4,608		$	4,496		$	15,187		$	13,988		$	18,596
Net premiums written		3,943			3,990			4,466			3,806			3,695			12,399			11,218			15,024
Net premiums earned		4,053			3,984			3,780			3,820			3,803			11,817			10,554			14,374
Losses and loss expenses		1,910			1,709			1,652			1,696			1,707			5,271			4,893			6,589
Policy benefits		124			106			113			109			119			343			361			470
Policy acquisition costs		1,085			1,060			1,009			999			975			3,154			2,725			3,724
Administrative expenses		383			399			387			368			368			1,169			1,067			1,435

Underwriting income		551			710			619			648			634			1,880			1,508			2,156
Adjusted net investment income		318			313			300			292			288			931			847			1,139
Other income (expense) - operating		(14	)		(6	)		(6	)		(31	)		(8	)		(26	)		(19	)		(50	)
Adjusted amortization expense of purchased intangibles		(15	)		(14	)		(14	)		(13	)		(13	)		(43	)		(39	)		(52	)

Segment income	$	840		$	1,003		$	899		$	896		$	901		$	2,742		$	2,297		$	3,193

CAY underwriting income ex Cats	$	638		$	589		$	552		$	615		$	592		$	1,779		$	1,575		$	2,190

Combined ratio
Loss and loss expense ratio		50.2%			45.6%			46.7%			47.3%			48.0%			47.5%			49.8%			49.1%
Policy acquisition cost ratio		26.8%			26.6%			26.7%			26.1%			25.6%			26.7%			25.8%			25.9%
Administrative expense ratio		9.4%			10.0%			10.2%			9.6%			9.7%			9.9%			10.1%			10.0%

Combined ratio		86.4%			82.2%			83.6%			83.0%			83.3%			84.1%			85.7%			85.0%


CAY combined ratio ex Cats
CAY loss and loss expense ratio ex Cats		48.2%			48.7%			48.6%			48.4%			49.1%			48.5%			49.2%			49.0%
CAY policy acquisition cost and administrative expense ratio ex Cats		36.1%			36.5%			36.8%			35.6%			35.3%			36.5%			35.9%			35.8%

CAY combined ratio ex Cats		84.3%			85.2%			85.4%			84.0%			84.4%			85.0%			85.1%			84.8%


Net catastrophe losses - pre-tax	$	249		$	25		$	64		$	156		$	42		$	338		$	349		$	505
Unfavorable (favorable) prior period development (PPD) - pre-tax	$	(162	)	$	(146	)	$	(131	)	$	(189	)	$	(84	)	$	(439	)	$	(282	)	$	(471	)

% Change versus prior year period
Net premiums written		6.7%			10.2%			14.4%			10.8%			9.7%			10.5%			6.5%			7.5%
Net premiums written - Commercial		6.3%			8.8%			10.8%			5.6%			5.8%			8.7%			5.1%			5.2%
Net premiums written - Consumer		7.2%			12.1%			20.5%			18.7%			15.5%			13.1%			8.6%			11.0%
Net premiums earned		6.6%			12.5%			17.8%			11.3%			11.2%			12.0%			5.9%			7.3%

Net premiums written constant $		5.2%			4.8%			6.1%			8.1%			7.4%			5.4%			8.0%			8.0%
Net premiums written - Commercial		4.9%			3.9%			3.1%			3.3%			3.9%			3.9%			6.0%			5.3%
Net premiums written - Consumer		5.5%			5.8%			11.1%			15.4%			12.6%			7.5%			10.9%			12.0%
Net premiums earned constant $		5.6%			6.7%			9.6%			8.4%			8.4%			7.2%			7.0%			7.4%

Other ratios: Net premiums written/gross premiums written		82%			81%			82%			83%			82%			82%			80%			81%

Production by Region - Net premiums written	3Q-26			3Q-25			% Change			Constant $ % Change			YTD 2026			YTD 2025			% Change			Constant $ % Change
Europe, Middle East and Africa	$	1,508		$	1,412			6.8%			7.5%		$	5,353		$	4,875			9.8%			4.8%
Latin America		866			775			11.7%			5.5%			2,592			2,254			15.0%			6.2%
Asia		1,569			1,462			7.5%			6.3%			4,386			3,976			10.4%			7.0%
Other⁽¹⁾		-			46			NM			NM			68			113			-41.0%			-42.3%

Total	$	3,943		$	3,695			6.7%			5.2%		$	12,399		$	11,218			10.5%			5.4%

(1) Includes the international supplemental A&H run-off business of Combined Insurance and other international operations.


Overseas General Insurance		Page 12

Chubb Limited

Segment Results - Consecutive Quarters

(in millions of U.S. dollars, except ratios)

(Unaudited)

Global Reinsurance


	3Q-26			2Q-26			1Q-26		4Q-25			3Q-25		YTD 2026			YTD 2025			Full Year 2025
Gross premiums written	$	312		$	429		$	403	$	236		$	332	$	1,144		$	1,251		$	1,487
Net premiums written		287			354			363		217			304		1,004			1,092			1,309
Net premiums earned		287			299			326		332			315		912			1,021			1,353
Losses and loss expenses		130			121			137		127			139		388			513			640
Policy acquisition costs		93			98			102		102			96		293			294			396
Administrative expenses		9			8			9		8			9		26			29			37

Underwriting income		55			72			78		95			71		205			185			280
Adjusted net investment income		114			110			108		99			100		332			255			354

Segment income	$	169		$	182		$	186	$	194		$	171	$	537		$	440		$	634

CAY underwriting income ex Cats	$	61		$	69		$	86	$	87		$	77	$	216		$	257		$	344

Combined ratio
Loss and loss expense ratio		45.2%			40.6%			41.9%		38.5%			43.8%		42.5%			50.1%			47.3%
Policy acquisition cost ratio		32.4%			32.7%			31.3%		30.9%			30.5%		32.1%			28.8%			29.3%
Administrative expense ratio		3.1%			2.8%			2.8%		2.2%			3.1%		2.9%			3.0%			2.7%

Combined ratio		80.7%			76.1%			76.0%		71.6%			77.4%		77.5%			81.9%			79.3%


CAY combined ratio ex Cats
CAY loss and loss expense ratio ex Cats		42.1%			42.1%			40.1%		41.4%			42.0%		41.4%			42.3%			42.1%
CAY policy acquisition cost and administrative expense ratio ex Cats		36.6%			34.8%			33.6%		32.5%			33.6%		34.9%			32.2%			32.2%

CAY combined ratio ex Cats		78.7%			76.9%			73.7%		73.9%			75.6%		76.3%			74.5%			74.3%


Net catastrophe losses - pre-tax	$	11		$	8		$	8	$	-		$	6	$	27		$	87		$	87
Unfavorable (favorable) prior period development (PPD) - pre-tax	$	(5	)	$	(11	)	$	-	$	(8	)	$	-	$	(16	)	$	(15	)	$	(23	)

% Change versus prior year period
Net premiums written		-5.6%			-6.7%			-11.2%		-3.9%			-13.5%		-8.1%			-2.6%			-2.8%
Net premiums earned		-8.9%			-11.5%			-11.4%		3.2%			-0.5%		-10.7%			7.4%			6.4%

Net premiums written constant $		-5.6%			-6.7%			-11.7%		-4.2%			-13.8%		-8.2%			-2.7%			-3.0%
Net premiums earned constant $		-8.6%			-11.5%			-12.1%		2.9%			-0.9%		-10.8%			7.3%			6.2%

Other ratios
Net premiums written/gross premiums written		92%			83%			90%		91%			92%		88%			87%			88%


Global Reinsurance		Page 13

Chubb Limited

Segment Results - Consecutive Quarters

(in millions of U.S. dollars)

(Unaudited)

Life Insurance


	3Q-26			2Q-26			1Q-26			4Q-25			3Q-25			YTD 2026			YTD 2025			Full Year 2025

Gross premiums written	$	2,015		$	1,994		$	2,345		$	1,884		$	1,995		$	6,354		$	5,639		$	7,523

Net premiums written		1,960			1,937			2,289			1,825			1,932			6,186			5,454			7,279

Net premiums earned		1,957			1,934			2,268			1,814			1,925			6,159			5,410			7,224

Losses and loss expenses		34			22			28			32			31			84			77			109

Adjusted policy benefits		1,355			1,374			1,700			1,246			1,303			4,429			3,715			4,961

Policy acquisition costs		368			352			362			342			359			1,082			988			1,330

Administrative expenses		202			213			210			222			213			625			614			836

Adjusted net investment income		321			323			305			298			284			949			829			1,127

Other income (expense) - operating ⁽¹⁾		52			45			51			62			31			148			103			165

Adjusted amortization expense of purchased intangibles		(2	)		(3	)		(3	)		(4	)		(2	)		(8	)		(7	)		(11	)

Segment income	$	369		$	338		$	321		$	328		$	332		$	1,028		$	941		$	1,269


% Change versus prior year period

Net premiums written		1.4%			7.5%			33.1%			16.9%			24.6%			13.4%			14.5%			15.1%

Net premiums earned		1.7%			8.1%			33.7%			15.9%			25.8%			13.9%			14.9%			15.1%

Net premiums written constant $		3.7%			6.3%			30.8%			18.3%			23.5%			13.2%			17.0%			17.3%

Net premiums earned constant $		3.9%			6.8%			31.5%			17.3%			24.7%			13.7%			17.5%			17.4%

International life insurance net premiums written and deposits breakdown (excludes Chubb Benefits and Life reinsurance businesses):

	3Q-26			3Q-25			% Change			Constant $ % Change			YTD 2026			YTD 2025			% Change			Constant $ % Change
International life insurance net premiums written⁽²⁾	$	1,604		$	1,613			-0.6%			2.0%		$	5,140		$	4,533			13.4%			13.2%
International life insurance deposits ⁽³⁾		837			496			68.7%			72.2%			2,301			1,769			30.1%			28.3%

Total international life insurance net premiums written and deposits	$	2,441		$	2,109			15.7%			18.6%		$	7,441		$	6,302			18.1%			17.5%



International life insurance segment income	$	277		$	260			7.0%			10.9%		$	822		$	743			10.8%			11.8%

(1) Includes non-premium revenue and expenses unrelated to our core insurance operations from the management of third-party assets by Huatai’s asset management businesses.

(2) Q3 2025 includes a favorable one-time large transaction of $126 million. Excluding the transaction, net premiums written in the current quarter were up 7.9%, or 10.8% on a constant dollar basis.

(3) Includes deposits collected on universal life and investment contracts. Consistent with U.S. GAAP, premiums collected on universal life and investment contracts are considered deposits and excluded from revenues.


Life Insurance		Page 14

Chubb Limited

Segment Results - Consecutive Quarters

(in millions of U.S. dollars)

(Unaudited)

Corporate


	3Q-26			2Q-26			1Q-26			4Q-25			3Q-25			YTD 2026			YTD 2025			Full Year 2025

Adjusted loss and loss expenses	$	51		$	158		$	15		$	164		$	61		$	224		$	145		$	309
Administrative expenses		110			107			110			148			113			327			324			472

Underwriting loss		(161	)		(265	)		(125	)		(312	)		(174	)		(551	)		(469	)		(781	)

Adjusted net investment income		(14	)		(9	)		(9	)		(18	)		(17	)		(32	)		(67	)		(85	)

Other income (expense) - operating		(8	)		(7	)		(9	)		(14	)		(3	)		(24	)		(23	)		(37	)

Adjusted interest expense		(210	)		(205	)		(203	)		(210	)		(203	)		(618	)		(575	)		(785	)
Amortization of fair value adjustments of acquired invested assets, long-term debt, and purchased intangibles other than long-term distribution agreements		(51	)		(53	)		(53	)		(56	)		(55	)		(157	)		(169	)		(225	)

Integration expenses and severance		(11	)		(8	)		(9	)		(76	)		(1	)		(28	)		(3	)		(79	)
Adjusted net realized gains (losses)		(200	)		100			(356	)		201			247			(456	)		806			1,007
Market risk benefits gains (losses)		(65	)		5			14			(37	)		(142	)		(46	)		(251	)		(288	)
Income tax expense		(666	)		(742	)		(646	)		(597	)		(787	)		(2,054	)		(1,825	)		(2,422	)
Less: NCI income (loss)		(108	)		28			27			(37	)		306			(53	)		349			312

Net loss	$	(1,278	)	$	(1,212	)	$	(1,423	)	$	(1,082	)	$	(1,441	)	$	(3,913	)	$	(2,925	)	$	(4,007	)


Unfavorable (favorable) prior period development (PPD) - pre-tax	$	51		$	158		$	15		$	162		$	61		$	224		$	144		$	306


Corporate		Page 15

Chubb Limited

Loss Reserve Rollforward

(in millions of U.S. dollars, except ratios)

(Unaudited)


	Unpaid Losses									Net Paid to
	Gross			Ceded			Net			Incurred Ratio

Balance at December 31, 2024	$	84,004		$	17,734		$	66,270
Losses and loss expenses incurred		8,654			1,758			6,896
Losses and loss expenses paid		(7,466	)		(1,462	)		(6,004	)	87%
Other (incl. foreign exch. revaluation)		279			51			228

Balance at March 31, 2025	$	85,471		$	18,081		$	67,390
Losses and loss expenses incurred		7,661			1,089			6,572
Losses and loss expenses paid		(7,620	)		(1,682	)		(5,938	)	90%
Other (incl. foreign exch. revaluation)		864			203			661

Balance at June 30, 2025	$	86,376		$	17,691		$	68,685
Losses and loss expenses incurred		8,827			1,876			6,951
Losses and loss expenses paid		(6,934	)		(1,190	)		(5,744	)	83%
Other (incl. foreign exch. revaluation)		170			44			126

Balance at September 30, 2025	$	88,439		$	18,421		$	70,018
Losses and loss expenses incurred		8,168			1,887			6,281
Losses and loss expenses paid		(8,555	)		(1,948	)		(6,607	)	105%
Other (incl. foreign exch. revaluation)		(34	)		(14	)		(20	)

Balance at December 31, 2025	$	88,018		$	18,346		$	69,672
Losses and loss expenses incurred		7,481			1,350			6,131
Losses and loss expenses paid		(6,822	)		(1,491	)		(5,331	)	87%
Other (incl. foreign exch. revaluation)		238			48			190

Balance at March 31, 2026	$	88,915		$	18,253		$	70,662
Losses and loss expenses incurred		8,114			1,423			6,691
Losses and loss expenses paid		(7,221	)		(1,199	)		(6,022	)	90%
Other (incl. foreign exch. revaluation)		(139	)		(24	)		(115	)

Balance at June 30, 2026	$	89,669		$	18,453		$	71,216
Losses and loss expenses incurred		9,499			1,973			7,526
Losses and loss expenses paid		(7,640	)		(1,588	)		(6,052	)	80%
Other (incl. foreign exch. revaluation)		301			81			220

Balance at September 30, 2026	$	91,829		$	18,919		$	72,910
Add net recoverable on paid losses		-			1,692			(1,692	)

Balance including net recoverable on paid losses	$	91,829		$	20,611		$	71,218


Loss Reserve Rollforward		Page 16

Chubb Limited

Reinsurance Recoverable Analysis

(in millions of U.S. dollars)

(Unaudited)

Net Reinsurance Recoverable by Division


	September 30			June 30			March 31			December 31
	2026			2026			2026			2025
Reinsurance recoverable on paid losses and loss expenses

Active operations	$	1,290		$	1,421		$	1,484		$	1,570

Brandywine and Other Run-off		451			461			486			494


Total	$	1,741		$	1,882		$	1,970		$	2,064


Reinsurance recoverable on unpaid losses and loss expenses

Active operations	$	18,091		$	17,644		$	17,445		$	17,503

Brandywine and Other Run-off		1,111			1,082			1,064			1,091


Total	$	19,202		$	18,726		$	18,509		$	18,594


Gross reinsurance recoverable

Active operations	$	19,381		$	19,065		$	18,929		$	19,073

Brandywine and Other Run-off		1,562			1,543			1,550			1,585


Total	$	20,943		$	20,608		$	20,479		$	20,658


Provision for uncollectible reinsurance ⁽¹⁾

Active operations	$	(233	)	$	(229	)	$	(225	)	$	(229	)

Brandywine and Other Run-off		(99	)		(95	)		(95	)		(91	)


Total	$	(332	)	$	(324	)	$	(320	)	$	(320	)


Net reinsurance recoverable

Active operations	$	19,148		$	18,836		$	18,704		$	18,844

Brandywine and Other Run-off		1,463			1,448			1,455			1,494


Total	$	20,611		$	20,284		$	20,159		$	20,338

(1) The provision for uncollectible reinsurance is based on a default analysis applied to gross reinsurance, net of usable collateral of approximately $3.7 billion.


Reinsurance Recoverable		Page 17

Chubb Limited

Investment Portfolio

(in millions of U.S. dollars)

(Unaudited)


	September 30			June 30			March 31			December 31
	2026			2026			2026			2025
Market Value

Fixed maturities available for sale	$	125,804		$	125,518		$	123,433		$	122,680

Other investments-fixed maturities		7,495			7,763			8,433			8,091

Short-term investments		5,293			5,458			5,067			4,840


Total fixed maturities	$	138,592		$	138,739		$	136,933		$	135,611


Asset Allocation by Market Value

U.S. and local government securities	$	3,387	2%	$	3,594	3%	$	3,697	3%	$	3,714	3%

Corporate and asset-backed securities		47,142	34%		47,927	35%		47,832	35%		47,886	35%

Mortgage-backed securities		32,809	24%		32,625	23%		31,322	23%		30,724	23%

Non-U.S.		49,961	36%		49,135	35%		49,015	35%		48,447	35%

Short-term investments		5,293	4%		5,458	4%		5,067	4%		4,840	4%


Total fixed maturities	$	138,592	100%	$	138,739	100%	$	136,933	100%	$	135,611	100%


Credit Quality by Market Value

AAA	$	13,218	10%	$	13,542	10%	$	13,258	10%	$	13,313	10%

AA		42,527	31%		42,512	31%		41,208	30%		40,720	30%

A		37,099	26%		36,488	26%		36,350	27%		35,184	26%

BBB		25,712	19%		25,882	19%		24,376	18%		23,584	17%

BB		11,553	8%		11,782	8%		12,576	9%		12,948	10%

B		8,115	6%		8,258	6%		8,766	6%		9,469	7%

Other		368	0%		275	0%		399	0%		393	0%


Total fixed maturities	$	138,592	100%	$	138,739	100%	$	136,933	100%	$	135,611	100%


Cost/Amortized Cost, net

Fixed maturities available for sale	$	134,093		$	128,980		$	127,251		$	124,674

Other investments-fixed maturities		7,495			7,763			8,433			8,091

Short-term investments		5,295			5,459			5,067			4,840


Subtotal fixed maturities ⁽¹⁾		146,883			142,202			140,751			137,605

Equity securities		10,760			11,014			10,916			10,801

Private debt held-for-investment ⁽¹⁾		2,261			2,252			2,477			2,411

Private equities and other		20,894			20,644			19,869			19,897


Total investment portfolio	$	180,798		$	176,112		$	174,013		$	170,714


Avg. duration of fixed maturities ⁽²⁾		5.0 years			4.8 years			4.7 years			4.7 years

Avg. market yield of fixed income investments ⁽³⁾		6.2%			5.5%			5.5%			5.2%

Avg. credit quality		A/A			A/A			A/A			A/A

Avg. book yield of fixed income investments ⁽³⁾		5.2%			5.1%			5.1%			5.1%

(1) Net of valuation allowance for expected credit losses.

(2) Excludes Huatai.

(3) Includes fixed maturities and other debt investments and excludes Huatai.


Investments		Page 18

Chubb Limited

Investment Portfolio - 2

(in millions of U.S. dollars)

(Unaudited)

Mortgage-backed Fixed Income Portfolio

Mortgage-backed securities


	S&P Credit Rating
	AAA		AA		A		BBB		BB and below		Total

Market Value at September 30, 2026

Agency residential mortgage-backed securities (RMBS)	$	52	$	29,111	$	-	$	-	$	-	$	29,163

Non-agency RMBS		2,294		204		175		36		7		2,716

Commercial mortgage-backed securities		782		102		41		3		2		930

Total mortgage-backed securities at market value	$	3,128	$	29,417	$	216	$	39	$	9	$	32,809


U.S. Corporate and Asset-backed Fixed Income Portfolios

Market Value at September 30, 2026			S&P Credit Rating
			Investment Grade
			AAA		AA		A		BBB		Total


Asset-backed			$	3,619	$	776	$	323	$	275	$	4,993

Banks				-		9		3,090		1,529		4,628

Basic Materials				-		-		108		227		335

Communications				-		478		605		1,412		2,495

Consumer, Cyclical				8		146		787		1,145		2,086

Consumer, Non-Cyclical				91		604		3,043		2,110		5,848

Diversified Financial Services				-		115		596		265		976

Energy				-		88		605		1,622		2,315

Industrial				-		8		644		1,462		2,114

Utilities				289		12		1,877		1,647		3,825

All Others				88		340		1,403		1,752		3,583


Total			$	4,095	$	2,576	$	13,081	$	13,446	$	33,198


Market Value at September 30, 2026					S&P Credit Rating
					Below Investment Grade
					BB		B		CCC		Total

Asset-backed					$	14	$	110	$	1	$	125
Banks						-		-		-		-
Basic Materials						384		299		7		690
Communications						535		627		28		1,190
Consumer, Cyclical						1,492		906		36		2,434
Consumer, Non-Cyclical						1,453		1,239		45		2,737
Diversified Financial Services						435		299		5		739
Energy						812		512		-		1,324
Industrial						1,170		718		53		1,941
Utilities						335		206		-		541
All Others						936		1,175		112		2,223

Total					$	7,566	$	6,091	$	287	$	13,944


Investments 2		Page 19

Chubb Limited

Investment Portfolio - 3

(in millions of U.S. dollars)

(Unaudited)

Non-U.S. Fixed Income Portfolio

September 30, 2026


Non-U.S. Government Securities	Market Value by S&P Credit Rating
	AAA		AA		A		BBB		BB and below		Total


People’s Republic of China	$	-	$	168	$	2,832	$	-	$	-	$	3,000

Republic of Korea		-		1,684		-		-		-		1,684

Kingdom of Thailand		-		-		1,005		-		-		1,005

Canada		861		-		-		-		-		861

United Mexican States		-		-		-		809		-		809

Taiwan		-		683		-		-		-		683

Commonwealth of Australia		674		-		-		-		-		674

Federative Republic of Brazil		-		-		-		-		664		664

Province of Hunan China		-		-		589		-		-		589

United Kingdom		-		581		-		-		-		581

Other Non-U.S. Government Securities		685		2,140		3,138		1,209		1,551		8,723


Total	$	2,220	$	5,256	$	7,564	$	2,018	$	2,215	$	19,273


Non-U.S. Corporate Securities	Market Value by S&P Credit Rating
	AAA		AA		A		BBB		BB and below		Total


China	$	-	$	-	$	7,152	$	706	$	11	$	7,869

United Kingdom		2		16		1,253		1,156		431		2,858

Canada		241		64		1,134		904		412		2,755

France		4		3		927		852		275		2,061

United States ⁽¹⁾		-		140		396		677		415		1,628

South Korea		-		507		407		565		1		1,480

Australia		40		288		480		537		27		1,372

Japan		-		1		804		370		98		1,273

Chile		-		-		206		493		3		702

Germany		45		79		165		331		75		695

Other Non-U.S. Corporate Securities		535		756		1,843		3,234		1,627		7,995


Total	$	867	$	1,854	$	14,767	$	9,825	$	3,375	$	30,688

(1) Countries represent the ultimate parent company’s country of risk. Non-U.S. corporate securities could be issued by foreign subsidiaries of U.S. corporations.


Investments 3		Page 20

Chubb Limited

Investment Portfolio - 4

(in millions of U.S. dollars)

(Unaudited)

Fixed Maturity Investment Portfolio

Top 10 Global Corporate Exposures


	September 30, 2026	Market Value		Rating

1	Bank of America Corp	$	824	A-

2	Morgan Stanley		711	A-

3	JP Morgan Chase & Co		684	A

4	Goldman Sachs Group Inc		548	BBB+

5	Wells Fargo & Co		530	BBB+

6	Citigroup Inc		496	BBB+

7	AT&T Inc		394	BBB

8	Verizon Communications Inc		388	BBB+

9	T-Mobile USA Inc		387	BBB+

10	Sempra		379	BBB


Investments 4		Page 21

Chubb Limited

Chubb Net Realized and Unrealized Gains (Losses)

(in millions of U.S. dollars)

(Unaudited)


	Three months ended September 30, 2026
	Realized Gains (Losses)									Unrealized Gains (Losses)									Realized and Unrealized Gains (Losses)
	Gains			Tax			Gains			Gains			Tax			Gains			Gains			Tax			Gains
	(Losses)			(Expense)			(Losses)			(Losses)			(Expense)			(Losses)			(Losses)			(Expense)			(Losses)
	Pre-Tax			Benefit			After-Tax			Pre-Tax			Benefit			After-Tax			Pre-Tax			Benefit			After-Tax

Fixed income investments ⁽¹⁾	$	151		$	(54	)	$	97		$	(4,846	)	$	371		$	(4,475	)	$	(4,695	)	$	317		$	(4,378	)
Public equity:
Realized gains (losses) on sales		25			(3	)		22			-			-			-			25			(3	)		22
Mark-to-market		(325	)		51			(274	)		-			-			-			(325	)		51			(274	)
Private equity: Mark-to-market		175			(26	)		149			-			-			-			175			(26	)		149

Total investment portfolio		26			(32	)		(6	)		(4,846	)		371			(4,475	)		(4,820	)		339			(4,481	)
Foreign exchange		(112	)		24			(88	)		599			40			639			487			64			551
Partially-owned entities ⁽²⁾		-			1			1			-			-			-			-			1			1
Current discount rate on future policy benefits		-			-			-			322			(51	)		271			322			(51	)		271
Instrument-specific credit risk - market risk benefits		-			-			-			-			-			-			-			-			-
Other		(2	)		1			(1	)		7			(1	)		6			5			-			5

Net gains (losses)	$	(88	)	$	(6	)	$	(94	)	$	(3,918	)	$	359		$	(3,559	)	$	(4,006	)	$	353		$	(3,653	)

(1) The quarter includes pre-tax realized gains on investment derivatives of $233 million, a net increase of the valuation allowance of expected credit losses of $5 million, and impairments of $15 million.

(2) Partially-owned entities are investments where we hold more than an insignificant percentage of the investee’s shares. Refer to the Non-GAAP financial measures section for additional details.


	Three months ended September 30, 2025
	Realized Gains (Losses)									Unrealized Gains (Losses)									Realized and Unrealized Gains (Losses)
	Gains			Tax			Gains			Gains			Tax			Gains			Gains			Tax			Gains
	(Losses)			(Expense)			(Losses)			(Losses)			(Expense)			(Losses)			(Losses)			(Expense)			(Losses)
	Pre-Tax			Benefit			After-Tax			Pre-Tax			Benefit			After-Tax			Pre-Tax			Benefit			After-Tax

Fixed income investments ⁽³⁾	$	(154	)	$	65		$	(89	)	$	884		$	(52	)	$	832		$	730		$	13		$	743
Public equity:
Realized gains (losses) on sales		53			(14	)		39			-			-			-			53			(14	)		39
Mark-to-market		197			(69	)		128			-			-			-			197			(69	)		128
Private equity: Mark-to-market		(36	)		10			(26	)		-			-			-			(36	)		10			(26	)

Total investment portfolio		60			(8	)		52			884			(52	)		832			944			(60	)		884
Foreign exchange		(115	)		14			(101	)		79			(17	)		62			(36	)		(3	)		(39	)
Partially-owned entities ⁽⁴⁾		1			-			1			-			-			-			1			-			1
Current discount rate on future policy benefits		-			-			-			258			26			284			258			26			284
Instrument-specific credit risk - market risk benefits		-			-			-			(9	)		2			(7	)		(9	)		2			(7	)
Other		-			-			-			(6	)		1			(5	)		(6	)		1			(5	)

Net gains (losses)	$	(54	)	$	6		$	(48	)	$	1,206		$	(40	)	$	1,166		$	1,152		$	(34	)	$	1,118

(3) The quarter includes pre-tax realized losses on investment derivatives of $84 million, a net decrease of the valuation allowance of expected credit losses of $22 million, and impairments of $22 million.

(4) Partially-owned entities are investments where we hold more than an insignificant percentage of the investee’s shares. Refer to the Non-GAAP financial measures section for additional details.


Net Gains (Losses)		Page 22

Chubb Limited

Chubb Net Realized and Unrealized Gains (Losses)

(in millions of U.S. dollars)

(Unaudited)


	Nine months ended September 30, 2026

	Realized Gains (Losses)									Unrealized Gains (Losses)									Realized and Unrealized Gains (Losses)
	Gains			Tax			Gains			Gains			Tax			Gains			Gains			Tax			Gains
	(Losses)			(Expense)			(Losses)			(Losses)			(Expense)			(Losses)			(Losses)			(Expense)			(Losses)
	Pre-Tax			Benefit			After-Tax			Pre-Tax			Benefit			After-Tax			Pre-Tax			Benefit			After-Tax

Fixed income investments ⁽¹⁾	$	(196	)	$	8		$	(188	)	$	(6,320	)	$	560		$	(5,760	)	$	(6,516	)	$	568		$	(5,948	)
Public equity:
Realized gains (losses) on sales		159			(20	)		139			-			-			-			159			(20	)		139
Mark-to-market		(501	)		76			(425	)		-			-			-			(501	)		76			(425	)
Private equity: Mark-to-market		307			(101	)		206			-			-			-			307			(101	)		206

Total investment portfolio		(231	)		(37	)		(268	)		(6,320	)		560			(5,760	)		(6,551	)		523			(6,028	)
Foreign exchange		(137	)		25			(112	)		711			44			755			574			69			643
Partially-owned entities ⁽²⁾		(4	)		1			(3	)		-			-			-			(4	)		1			(3	)
Current discount rate on future policy benefits		-			-			-			571			(120	)		451			571			(120	)		451
Instrument-specific credit risk - market risk benefits		-			-			-			13			(2	)		11			13			(2	)		11
Other		(18	)		5			(13	)		40			(9	)		31			22			(4	)		18

Net gains (losses)	$	(390	)	$	(6	)	$	(396	)	$	(4,985	)	$	473		$	(4,512	)	$	(5,375	)	$	467		$	(4,908	)


(1) Year to date includes pre-tax realized gains on investment derivatives of $63 million, a net increase of the valuation allowance of expected credit losses of $1 million, and impairments of $72 million. (2) Partially-owned entities are investments where we hold more than an insignificant percentage of the investee’s shares. Refer to the Non-GAAP financial measures section for additional details.

	Nine months ended September 30, 2025

	Realized Gains (Losses)									Unrealized Gains (Losses)									Realized and Unrealized Gains (Losses)
	Gains			Tax			Gains			Gains			Tax			Gains			Gains			Tax			Gains
	(Losses)			(Expense)			(Losses)			(Losses)			(Expense)			(Losses)			(Losses)			(Expense)			(Losses)
	Pre-Tax			Benefit			After-Tax			Pre-Tax			Benefit			After-Tax			Pre-Tax			Benefit			After-Tax

Fixed income investments ⁽³⁾	$	(140	)	$	63		$	(77	)	$	2,775		$	(163	)	$	2,612		$	2,635		$	(100	)	$	2,535
Public equity:
Realized gains (losses) on sales		70			(20	)		50			-			-			-			70			(20	)		50
Mark-to-market		357			(89	)		268			-			-			-			357			(89	)		268
Private equity: Mark-to-market		466			(67	)		399			-			-			-			466			(67	)		399

Total investment portfolio		753			(113	)		640			2,775			(163	)		2,612			3,528			(276	)		3,252
Foreign exchange		(269	)		64			(205	)		1,194			(26	)		1,168			925			38			963
Partially-owned entities ⁽⁴⁾		2			-			2			-			-			-			2			-			2
Current discount rate on future policy benefits		-			-			-			30			47			77			30			47			77
Instrument-specific credit risk - market risk benefits		-			-			-			(4	)		1			(3	)		(4	)		1			(3	)
Other		(11	)		2			(9	)		(127	)		25			(102	)		(138	)		27			(111	)

Net gains (losses)	$	475		$	(47	)	$	428		$	3,868		$	(116	)	$	3,752		$	4,343		$	(163	)	$	4,180

(3) Year to date includes pre-tax realized gains on investment derivatives of $46 million, a net decrease of the valuation allowance of expected credit losses of $21 million, and impairments of $34 million.

(4) Partially-owned entities are investments where we hold more than an insignificant percentage of the investee’s shares. Refer to the Non-GAAP financial measures section for additional details.


Net Gains (Losses) 2		Page 23

Chubb Limited

Debt and Capital

(in millions of U.S. dollars, except ratios)

(Unaudited)


	September 30			June 30			March 31			December 31			December 31
	2026			2026			2026			2025			2024


Financial debt:

Total short-term debt	$	668		$	663		$	1,500		$	1,499		$	800

Total long-term debt ⁽¹⁾		17,990			17,452			15,970			15,728			14,379


Total financial debt	$	18,658		$	18,115		$	17,470		$	17,227		$	15,179

Hybrid debt:

Total trust preferred securities	$	309		$	309		$	309		$	309		$	309

Total subordinated debt ⁽²⁾		119			118			116			113			110


Total hybrid debt	$	428		$	427		$	425		$	422		$	419


Total	$	19,086		$	18,542		$	17,895		$	17,649		$	15,598


Capitalization:

Chubb shareholders’ equity	$	73,227		$	75,372		$	73,788		$	73,757		$	64,021

Hybrid debt		428			427			425			422			419

Financial debt		18,658			18,115			17,470			17,227			15,179


Total capitalization	$	92,313		$	93,914		$	91,683		$	91,406		$	79,619


Less: Chubb unrealized gains (losses) on investments, net of deferred tax		(7,757	)		(3,282	)		(3,611	)		(1,997	)		(4,552	)


Total adjusted capitalization	$	100,070		$	97,196		$	95,294		$	93,403		$	84,171


Leverage ratios (based on total adjusted capital):

Hybrid debt		0.5%			0.5%			0.5%			0.4%			0.5%

Financial debt		18.6%			18.6%			18.3%			18.4%			18.0%


Total hybrid & financial debt		19.1%			19.1%			18.8%			18.8%			18.5%

(1) During Q3, the company issued CHF 400 million of senior unsecured notes (approximately $494 million) consisting of CHF 175 million in notes due 2029 and CHF 225 million in notes due 2033. The interest rates were 0.86% and 1.22%, respectively. The use of proceeds for these offerings was general corporate purposes, which may include the repayment and refinancing of debt.

(2) Capital Supplementary Bonds issued by Huatai Life. For purposes of calculating leverage ratios, Huatai debt is based on Chubb’s share (excluding non-controlling interest).


Debt and Capital		Page 24

Chubb Limited

Computation of Basic and Diluted Earnings Per Share

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

(Unaudited)


													Year Ended
	Three months ended September 30						Nine months ended September 30						December 31
	2026			2025			2026			2025			2025

Numerator
Core operating income	$	2,980		$	3,048		$	8,597		$	7,106		$	10,133
Amortization of fair value adjustments of acquired invested assets, long-term debt, and purchased intangibles other than long-term distribution agreements, pre-tax		(50	)		(54	)		(152	)		(163	)		(216	)
Tax (expense) benefit on amortization adjustment		11			12			33			36			46
Integration expenses and severance, pre-tax		(11	)		(1	)		(28	)		(3	)		(78	)
Tax (expense) benefit on integration expenses and severance		3			-			7			-			17
Adjusted net realized gains (losses), pre-tax		(88	)		(54	)		(390	)		475			717
Tax (expense) benefit on adjusted net realized gains (losses)		(6	)		6			(6	)		(47	)		60
Market risk benefits gains (losses), pre-tax		(65	)		(142	)		(46	)		(251	)		(288	)
Tax (expense) benefit on market risk benefits gains (losses)		10			22			7			38			43
Amortization of deferred tax asset from Bermuda law		60			(36	)		(4	)		(91	)		(124	)

Chubb net income	$	2,844		$	2,801		$	8,018		$	7,100		$	10,310


Rollforward of Common Shares Outstanding
Shares - beginning of period		385,634,049			398,660,788			391,101,227			400,703,663			400,703,663
Repurchase of shares		(3,419,780	)		(4,436,315	)		(9,927,161	)		(8,121,824	)		(11,986,574	)
Shares issued (canceled), excluding option exercises		10,163			(33,632	)		39,903			581,712			683,260
Issued for option exercises		305,637			133,597			1,316,100			1,160,887			1,700,878

Shares - end of period		382,530,069			394,324,438			382,530,069			394,324,438			391,101,227


Denominator
Weighted average shares outstanding ⁽¹⁾		385,554,748			397,336,568			387,800,016			399,289,363			397,611,884
Effect of other dilutive securities		3,816,275			3,532,323			4,034,183			3,902,807			3,901,454

Adj. wtd. avg. shares outstanding and assumed conversions		389,371,023			400,868,891			391,834,199			403,192,170			401,513,338


Basic earnings per share
Core operating income	$	7.73		$	7.67		$	22.17		$	17.80		$	25.48
Amortization of fair value adjustments of acquired invested assets, long-term debt, and purchased intangibles other than long-term distribution agreements, net of tax		(0.10	)		(0.10	)		(0.30	)		(0.32	)		(0.43	)
Integration expenses and severance, net of tax		(0.02	)		-			(0.06	)		(0.01	)		(0.15	)
Adjusted net realized gains (losses), net of tax		(0.24	)		(0.13	)		(1.02	)		1.07			1.96
Market risk benefits gains (losses), net of tax		(0.14	)		(0.30	)		(0.10	)		(0.53	)		(0.62	)
Amortization of deferred tax asset from Bermuda law		0.15			(0.09	)		(0.01	)		(0.23	)		(0.31	)

Chubb net income	$	7.38		$	7.05		$	20.68		$	17.78		$	25.93


Diluted earnings per share
Core operating income	$	7.66		$	7.60		$	21.94		$	17.62		$	25.24
Amortization of fair value adjustments of acquired invested assets, long-term debt, and purchased intangibles other than long-term distribution agreements, net of tax		(0.10	)		(0.10	)		(0.30	)		(0.31	)		(0.43	)
Integration expenses and severance, net of tax		(0.02	)		-			(0.05	)		(0.01	)		(0.15	)
Adjusted net realized gains (losses), net of tax		(0.25	)		(0.12	)		(1.02	)		1.06			1.94
Market risk benefits gains (losses), net of tax		(0.14	)		(0.30	)		(0.10	)		(0.53	)		(0.61	)
Amortization of deferred tax asset from Bermuda law		0.15			(0.09	)		(0.01	)		(0.22	)		(0.31	)

Chubb net income	$	7.30		$	6.99		$	20.46		$	17.61		$	25.68

(1) Includes unvested restricted stock units that are not included in common shares outstanding as the shares are not issued until time of vesting, but are eligible to receive dividends (participating securities).


Earnings per share		Page 25

Chubb Limited

Book Value and Book Value per Common Share

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

(Unaudited)

Reconciliation of Book Value per Common Share


	September 30			June 30			March 31			December 31			September 30
	2026			2026			2026			2025			2025
Chubb shareholders’ equity	$	73,227		$	75,372		$	73,788		$	73,757		$	71,855
Less: Chubb goodwill and other intangible assets, net of tax		24,661			24,495			24,584			24,391			24,485

Numerator for tangible book value per share	$	48,566		$	50,877		$	49,204		$	49,366		$	47,370


Book value - % change over prior quarter		-2.8%			2.1%			0.0%			2.6%			3.5%
Tangible book value - % change over prior quarter		-4.5%			3.4%			-0.3%			4.2%			5.5%

Book value - % change over prior year		1.9%			8.6%			12.3%			15.2%			9.3%
Tangible book value - % change over prior year		2.5%			13.3%			17.8%			22.7%			14.5%

Denominator: shares outstanding		382,530,069			385,634,049			388,495,580			391,101,227			394,324,438


Book value per common share	$	191.43		$	195.45		$	189.93		$	188.59		$	182.22
Tangible book value per common share	$	126.96		$	131.93		$	126.65		$	126.22		$	120.13

Reconciliation of Book Value

Chubb shareholders’ equity, beginning of quarter	$	75,372		$	73,788		$	73,757		$	71,855		$	69,395

Core operating income		2,980			2,885			2,732			3,027			3,048

Amortization of fair value adjustments of acquired invested assets, long-term debt, and purchased intangibles other than long-term distribution agreements		(39	)		(39	)		(41	)		(43	)		(42	)

Integration expenses and severance		(8	)		(6	)		(7	)		(58	)		(1	)

Adjusted net realized gains (losses) ⁽¹⁾		(94	)		43			(345	)		349			(48	)

Market risk benefits gains (losses)		(55	)		4			12			(32	)		(120	)

Amortization of deferred tax asset from Bermuda law		60			(33	)		(31	)		(33	)		(36	)

Net unrealized gains (losses) on investments		(4,475	)		329			(1,614	)		(68	)		832

Repurchase of shares		(1,177	)		(979	)		(1,143	)		(1,094	)		(1,232	)

Dividend declared on common shares		(393	)		(395	)		(380	)		(381	)		(385	)

Cumulative translation gains (losses)		639			(237	)		353			(274	)		62

Postretirement benefit liability		(4	)		(2	)		(3	)		153			(2	)

Current discount rate on future policy benefits		271			(137	)		317			149			284

Instrument-specific credit risk - market risk benefits		-			1			10			(4	)		(7	)

Other⁽²⁾		150			150			171			211			107


Chubb shareholders’ equity, end of quarter	$	73,227		$	75,372		$	73,788		$	73,757		$	71,855

(1) Includes net realized gains (losses) related to unconsolidated entities.

(2) Other primarily includes proceeds from exercise of stock options and stock compensation, offset by the value of any share cancellations for restricted stock vesting taxes.


Reconciliation Book Value		Page 26

Chubb Limited

Non-GAAP Financial Measures

(Unaudited)

Regulation G - Non-GAAP Financial Measures

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 CAY underwriting income excluding catastrophe losses (Cats) is P&C underwriting income (loss) adjusted to exclude P&C Cats and prior period development (PPD). We believe it is useful to exclude Cats, 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.

Adjusted losses and loss expenses include realized gains and losses on crop derivatives. These 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.

Adjusted policy benefits include gains and losses from fair value changes in separate account liabilities, as well as the offsetting movement in separate account assets that do not qualify for separate account reporting under U.S. GAAP, for purposes of reporting Life Insurance underwriting income. We view gains and losses from fair value changes in both non-qualified separate account assets and liabilities as part of the results of our underwriting operations, and therefore these gains and losses are reclassified from Other (income) expense to adjusted policy benefits. In addition, adjusted policy benefits includes the impact of realized gains and losses on underlying investments supporting the liabilities of certain participating policies for the portion that are shared with policyholders. These realized gains and losses on underlying investments have been reclassified from net realized gains (losses) to adjusted policy benefits. We believe this presentation better reflects the economics of the liabilities and the underlying investments supporting those liabilities.

Adjusted net investment income is net investment income excluding the amortization of the fair value adjustment on acquired invested assets from certain acquisitions, and including investment income 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 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.

Adjusted interest expense is interest expense excluding the amortization of the fair value adjustment on acquired long-term debt, related to the Chubb Corp acquisition due to the size and complexity of this acquisition.

Other income (expense) - operating excludes from consolidated Other income (expense) the portion of net realized gains and losses related to unconsolidated entities, other income (expense) from private equity partnerships, and gains and losses from fair value changes in separate account assets that do not qualify for separate account reporting under U.S. GAAP. Net realized gains (losses) related to unconsolidated entities is excluded from core operating income (loss) in order to enhance the understanding of our results of underwriting operations as they are heavily influenced by, and fluctuate in part according to, market conditions. Other income (expense) from private equity partnerships and net realized gains and losses related to unconsolidated entities are recorded to Other income (expense) in our income statement on a U.S. GAAP basis.

P&C combined ratio excludes the Life Insurance segment. P&C loss and loss expense ratio and P&C combined ratio include adjusted losses and loss expenses and policy benefits in the ratio numerator. P&C expense ratio and P&C combined ratio include policy acquisition costs and administrative expenses in the ratio numerator. A reconciliation of combined ratio to P&C combined ratio is provided on pages 30 - 33.

CAY P&C combined ratio excluding catastrophe losses excludes Cats and PPD from the P&C combined ratio. We exclude Cats 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. The combined ratio numerator is adjusted to exclude Cats, PPD and expense adjustments on PPD, and the denominator is adjusted to exclude net premiums earned adjustments on PPD and reinstatement premiums on Cats and PPD. In periods where there are adjustments on loss sensitive policies, these adjustments are excluded from both losses and loss expenses and net premiums earned when calculating the ratios. 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. This measure is commonly reported among our peer companies and allows for a useful comparison.

Expense ratio excluding accident and health (A&H) excludes the impact of our A&H business from our expense ratio. The expense ratio for the A&H business is typically higher than our traditional P&C business, and we believe that this measure provides better comparison to our peer companies that may not have a significant A&H block of business.

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.

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 of acquired invested assets, long-term debt, and purchased intangibles other than long-term distribution agreements, 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 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.

Chubb core operating effective tax rate is income tax expense (benefit) excluding tax expense (benefit) on adjusted net realized gains (losses), tax expense (benefit) on market risk benefits gains (losses), tax expense (benefit) on amortization of fair value adjustments of acquired invested assets, long-term debt, and purchased intangibles other than long-term distribution agreements, tax expense (benefit) on integration expenses and severance, and the amortization of the deferred tax asset related to the tax benefit from the Bermuda Economic Transition Adjustment, all attributable to Chubb, divided by Chubb income before tax excluding adjusted net realized gains (losses) before tax, market risk benefit gains (losses) before tax, amortization of fair value adjustments of acquired invested assets, long-term debt, and purchased intangibles other than long-term distribution agreements before tax, and integration expenses and severance before tax, all attributable to Chubb. We believe the use of this measure is meaningful to show the tax on the underlying performance of our insurance business, by excluding the taxes on adjusted net realized gains (losses), market risk benefit gains (losses), amortization of the fair value adjustments related to acquired invested assets, long-term debt, and purchased intangibles other than long-term distribution agreements, integration expenses and severance, and the amortization of the deferred tax asset related to the tax benefit from the Bermuda Economic Transition Adjustment. Due to fluctuations in our income before taxes during the year, on a quarterly basis these exclusions may not annualize to the full year forecasted expense or (benefit), if applicable. Refer to the definition of core operating income (loss), net of tax above for more information on these adjustments.

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.

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 new life deposits are an important component of production and key to our efforts to grow our business.

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.

Total adjusted capitalization is the sum of the short-term debt, long-term debt, hybrid debt, and Chubb shareholders’ equity less Chubb unrealized gains (losses) on investments, net of deferred tax. This measure is meaningful as it eliminates the effect of after-tax unrealized mark-to-market movements on our investment portfolio, which can fluctuate significantly from period to period, to better highlight our company’s underlying total capital position.


Reconciliation Non-GAAP		Page 27

Chubb Limited

Non-GAAP Financial Measures - 2

(in millions of U.S. dollars, except ratios)

(Unaudited)

Regulation G - Non-GAAP Financial Measures (continued)

Chubb core operating effective tax rate


The following table presents the reconciliation of effective tax rate to the Core operating effective tax rate:																YTD			YTD			Full Year
	3Q-26			2Q-26			1Q-26			4Q-25			3Q-25			2026			2025			2025
Tax expense, as reported	$	663		$	741		$	644		$	592		$	784		$	2,048		$	1,815		$	2,407
Less: tax expense (benefit) on amortization of fair value adjustments of acquired invested assets, long-term debt, and purchased intangibles other than long-term distribution agreements		(11	)		(11	)		(11	)		(10	)		(12	)		(33	)		(36	)		(46	)
Less: tax expense (benefit) on integration expenses and severance		(3	)		(2	)		(2	)		(17	)		-			(7	)		-			(17	)
Less: tax expense (benefit) on adjusted net realized gains (losses)		6			32			(32	)		(107	)		(6	)		6			47			(60	)
Less: tax expense (benefit) on market risk benefits gains (losses)		(10	)		1			2			(5	)		(22	)		(7	)		(38	)		(43	)
Less: amortization of deferred tax asset from Bermuda law		(60	)		33			31			33			36			4			91			124

Tax expense, adjusted	$	741		$	688		$	656		$	698		$	788		$	2,085		$	1,751		$	2,449

Income before tax, as reported	$	3,507		$	3,595		$	2,964		$	3,802		$	3,585		$	10,066		$	8,915		$	12,717
Less: amortization of fair value adjustments of acquired invested assets, long-term debt, and purchased intangibles other than long-term distribution agreements		(50	)		(50	)		(52	)		(53	)		(54	)		(152	)		(163	)		(216	)
Less: integration expenses and severance		(11	)		(8	)		(9	)		(75	)		(1	)		(28	)		(3	)		(78	)
Less: adjusted realized gains (losses)		(368	)		73			(394	)		(39	)		29			(689	)		38			(1	)
Less: realized gains (losses) related to unconsolidated entities		280			2			17			281			(83	)		299			437			718
Less: market risk benefits gains (losses)		(65	)		5			14			(37	)		(142	)		(46	)		(251	)		(288	)

Core operating income before tax	$	3,721		$	3,573		$	3,388		$	3,725		$	3,836		$	10,682		$	8,857		$	12,582

Effective tax rate		18.9%			20.6%			21.7%			15.5%			21.9%			20.3%			20.4%			18.9%
Adjustment for tax impact of amortization of fair value adjustments of acquired invested assets, long-term debt, and purchased intangibles other than long-term distribution agreements		0.0%			0.1%			0.0%			-0.1%			0.0%			0.0%			0.1%			0.1%
Adjustment for tax impact of integration expenses and severance		0.0%			0.0%			0.0%			0.1%			0.0%			0.0%			0.0%			0.0%
Adjustment for tax impact of adjusted net realized gains (losses)		-0.5%			-0.5%			-1.5%			4.2%			-0.2%			-0.8%			0.4%			1.6%
Adjustment for tax impact of market risk benefits gains (losses)		-0.1%			0.0%			0.0%			-0.1%			-0.2%			0.0%			-0.1%			-0.1%
Adjustment for amortization of deferred tax asset from Bermuda law		1.6%			-0.9%			-0.9%			-0.9%			-1.0%			0.0%			-1.0%			-1.0%

Core operating effective tax rate		19.9%			19.3%			19.3%			18.7%			20.5%			19.5%			19.8%			19.5%


Core operating income
The following table presents the reconciliation of Chubb net income to Core operating income:																YTD			YTD			Full Year
	3Q-26			2Q-26			1Q-26			4Q-25			3Q-25			2026			2025			2025
Chubb net income	$	2,844		$	2,854		$	2,320		$	3,210		$	2,801		$	8,018		$	7,100		$	10,310
Amortization of fair value adjustments of acquired invested assets, long-term debt, and purchased intangibles other than long-term distribution agreements, pre-tax		(50	)		(50	)		(52	)		(53	)		(54	)		(152	)		(163	)		(216	)
Tax (expense) benefit on amortization adjustment		11			11			11			10			12			33			36			46
Integration expenses and severance, pre-tax		(11	)		(8	)		(9	)		(75	)		(1	)		(28	)		(3	)		(78	)
Tax (expense) benefit on integration expenses and severance		3			2			2			17			-			7			-			17
Adjusted realized gains (losses), pre-tax		(368	)		73			(394	)		(39	)		29			(689	)		38			(1	)
Net realized gains (losses) related to unconsolidated entities, pre-tax ⁽¹⁾		280			2			17			281			(83	)		299			437			718
Tax (expense) benefit on adjusted net realized gains (losses)		(6	)		(32	)		32			107			6			(6	)		(47	)		60
Market risk benefits gains (losses), pre-tax		(65	)		5			14			(37	)		(142	)		(46	)		(251	)		(288	)
Tax (expense) benefit on market risk benefits gains (losses)		10			(1	)		(2	)		5			22			7			38			43
Amortization of deferred tax asset from Bermuda law		60			(33	)		(31	)		(33	)		(36	)		(4	)		(91	)		(124	)

Core operating income	$	2,980		$	2,885		$	2,732		$	3,027		$	3,048		$	8,597		$	7,106		$	10,133

Catastrophe losses - after-tax	$	562		$	375		$	397		$	292		$	226		$	1,334		$	2,036		$	2,328
Unfavorable (favorable) prior period development (PPD) - after-tax	$	(394	)	$	(216	)	$	(231	)	$	(220	)	$	(238	)	$	(841	)	$	(638	)	$	(858	)

P&C underwriting income and P&C CAY underwriting income ex Cats
The following table presents the reconciliation of Net income to P&C underwriting income and P&C CAY underwriting income ex Cats:																YTD			YTD			Full Year
	3Q-26			2Q-26			1Q-26			4Q-25			3Q-25			2026			2025			2025
Net income	$	2,736		$	2,882		$	2,347		$	3,173		$	3,107		$	7,965		$	7,449		$	10,622
Less: Income tax expense		(666	)		(742	)		(646	)		(597	)		(787	)		(2,054	)		(1,825	)		(2,422	)
Amortization expense of purchased intangibles		(74	)		(74	)		(73	)		(77	)		(75	)		(221	)		(224	)		(301	)
Other income (expense)		364			196			161			516			43			721			781			1,297
Interest expense		(204	)		(200	)		(198	)		(205	)		(197	)		(602	)		(559	)		(764	)
Net investment income		1,791			1,760			1,709			1,688			1,648			5,260			4,777			6,465
Net realized gains (losses)		(455	)		162			(407	)		(116	)		283			(700	)		327			211
Market risk benefits gains (losses)		(65	)		5			14			(37	)		(142	)		(46	)		(251	)		(288	)
Integration expenses and severance		(11	)		(8	)		(9	)		(76	)		(1	)		(28	)		(3	)		(79	)
Life Insurance underlying income (loss) ⁽²⁾		-			(162	)		(4	)		(128	)		69			(166	)		87			(41	)
Add: Realized gains (losses) on crop derivatives		5			(8	)		(8	)		(8	)		(7	)		(11	)		(8	)		(16	)

P&C underwriting income	$	2,061		$	1,937		$	1,792		$	2,197		$	2,259		$	5,790		$	4,331		$	6,528
Add: Catastrophe losses (including reinstatement premiums) - pre-tax		705			475			500			365			285			1,680			2,556			2,921
Unfavorable (favorable) prior period development (PPD) - pre-tax		(511	)		(283	)		(286	)		(268	)		(361	)		(1,080	)		(865	)		(1,133	)

P&C CAY underwriting income ex Cats	$	2,255		$	2,129		$	2,006		$	2,294		$	2,183		$	6,390		$	6,022		$	8,316

(1) Realized gains (losses) on partially-owned entities, which are investments where we hold more than an insignificant percentage of the investee’s shares. The net realized gain or loss is included in other income (expense) under U.S. GAAP.

(2) Life Insurance underlying income (loss) is calculated by subtracting losses and loss expenses, policy benefits, policy acquisition costs and administrative expenses from net premiums earned related to the Life Insurance segment.


Reconciliation Non-GAAP 2		Page 28

Chubb Limited

Non-GAAP Financial Measures - 3

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

(Unaudited)

Regulation G - Non-GAAP Financial Measures (continued)

Core operating ROE and Core operating ROTE

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 – 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.


							YTD			YTD			Full Year
	3Q-26			3Q-25			2026			2025			2025
Chubb net income	$	2,844		$	2,801		$	8,018		$	7,100		$	10,310
Core operating income	$	2,980		$	3,048		$	8,597		$	7,106		$	10,133
Equity - beginning of period, as reported	$	75,372		$	69,395		$	73,757		$	64,021		$	64,021
Less: unrealized gains (losses) on investments, net of deferred tax		(3,282	)		(2,772	)		(1,997	)		(4,552	)		(4,552	)
Less: changes in current discount rate on FPB, net of deferred tax		(164	)		(746	)		(344	)		(539	)		(539	)
Less: changes in instrument-specific credit risk on MRB, net of deferred tax		(12	)		(12	)		(23	)		(16	)		(16	)

Equity - beginning of period, as adjusted	$	78,830		$	72,925		$	76,121		$	69,128		$	69,128

Less: Chubb goodwill and other intangible assets, net of tax		24,495			24,490			24,391			23,800			23,800

Equity - beginning of period, as adjusted ex Chubb goodwill and other intangible assets	$	54,335		$	48,435		$	51,730		$	45,328		$	45,328

Equity - end of period, as reported	$	73,227		$	71,855		$	73,227		$	71,855		$	73,757
Less: unrealized gains (losses) on investments, net of deferred tax		(7,757	)		(1,940	)		(7,757	)		(1,940	)		(1,997	)
Less: changes in current discount rate on FPB, net of deferred tax		107			(462	)		107			(462	)		(344	)
Less: changes in instrument-specific credit risk on MRB, net of deferred tax		(12	)		(19	)		(12	)		(19	)		(23	)

Equity - end of period, as adjusted	$	80,889		$	74,276		$	80,889		$	74,276		$	76,121

Less: Chubb goodwill and other intangible assets, net of tax		24,661			24,485			24,661			24,485			24,391

Equity - end of period, as adjusted ex Chubb goodwill and other intangible assets	$	56,228		$	49,791		$	56,228		$	49,791		$	51,730

Weighted average equity, as reported	$	74,300		$	70,625		$	73,492		$	67,938		$	68,889
Weighted average equity, as adjusted ex Chubb goodwill and other intangible assets	$	55,282		$	49,113		$	53,979		$	47,560		$	48,529
Weighted average equity, as adjusted	$	79,860		$	73,601		$	78,505		$	71,702		$	72,625
ROE		15.3%			15.9%			14.5%			13.9%			15.0%
Core operating ROTE		21.6%			24.8%			21.2%			19.9%			20.9%
Core operating ROE		14.9%			16.6%			14.6%			13.2%			14.0%
Private equities realized gains (losses), after-tax ⁽¹⁾	$	149		$	(26	)	$	206		$	399		$	817
Impact of Private equities if included in Core operating ROE - Favorable (unfavorable) ⁽¹⁾		0.8 pts			-0.2 pts			0.4 pts			0.8 pts			1.1 pts

Reconciliation of Book Value and Tangible Book Value per Share to adjusted measures
	September 30			June 30			December 31			September 30			QTD			YTD		Year-over-Year
	2026			2026			2025			2025			% Change			% Change		% Change
Book value	$	73,227		$	75,372		$	73,757		$	71,855
Less: AOCI		(9,483	)		(5,923	)		(4,975	)		(4,892	)

Book value excluding AOCI		82,710			81,295			78,732			76,747

Tangible book value		48,566			50,877			49,366			47,370
Less: Tangible AOCI		(9,080	)		(5,300	)		(4,181	)		(4,129	)

Tangible book value excluding tangible AOCI	$	57,646		$	56,177		$	53,547		$	51,499


Denominator: shares outstanding		382,530,069			385,634,049			391,101,227			394,324,438

Book value per share	$	191.43		$	195.45		$	188.59		$	182.22			-2.1%			1.5%		5.1%
Tangible book value per share	$	126.96		$	131.93		$	126.22		$	120.13			-3.8%			0.6%		5.7%

Book value per share excluding AOCI	$	216.22		$	210.81		$	201.31		$	194.63			2.6%			7.4%		11.1%
Tangible book value per share excluding tangible AOCI	$	150.70		$	145.67		$	136.91		$	130.60			3.5%			10.1%		15.4%

(1) We record the change in the fair value mark and gains (losses) on sales of private equity funds as realized gains (losses) instead of investment income.


Reconciliation Non-GAAP 3		Page 29

Chubb Limited

Non-GAAP Financial Measures - 4

(in millions of U.S. dollars, except ratios)

(Unaudited)

Regulation G - Non-GAAP Financial Measures (continued)

P&C combined ratio

The P&C combined ratio includes the impact of realized gains and losses on crop derivatives. These derivatives were purchased to provide economic benefit, in a manner similar to reinsurance protection, in the event that a significant decline in commodity pricing will impact underwriting results. We view gains and losses on these derivatives as part of the results of our underwriting operations.

The following tables present the calculation of combined ratio, as reported, for each segment to P&C combined ratio, adjusted for catastrophe losses (Cats) and prior period development (PPD).


Q3 2026		North America Commercial P&C Insurance			North America Personal P&C Insurance			North America Agricultural Insurance			Overseas General Insurance			Global Reinsurance			Corporate			Total P&C
Numerator
Losses and loss expenses
Losses and loss expenses/policy benefits		$	3,422		$	668		$	1,311		$	2,034		$	130		$	51		$	7,616
Realized (gains) losses on crop derivatives			-			-			(5	)		-			-			-			(5	)

Adjusted losses and loss expenses/policy benefits	A	$	3,422		$	668		$	1,306		$	2,034		$	130		$	51		$	7,611

Catastrophe losses and related adjustments
Catastrophe losses, net of related adjustments			(237	)		(203	)		(5	)		(249	)		(11	)		-			(705	)
Reinstatement premiums collected (expensed) on catastrophe losses			-			-			-			-			1			-			1

Catastrophe losses, gross of related adjustments			(237	)		(203	)		(5	)		(249	)		(12	)		-			(706	)

PPD and related adjustments
PPD, net of related adjustments - favorable (unfavorable)			14			379			2			162			5			(51	)		511
Net premiums earned adjustments on PPD - unfavorable (favorable)			14			2			-			-			(1	)		-			15
Expense adjustments - unfavorable (favorable)			(2	)		-			-			-			(2	)		-			(4	)
PPD reinstatement premiums - unfavorable (favorable)			-			-			-			16			-			-			16

PPD, gross of related adjustments - favorable (unfavorable)			26			381			2			178			2			(51	)		538

CAY loss and loss expense ex Cats	B	$	3,211		$	846		$	1,303		$	1,963		$	120		$	-		$	7,443

Policy acquisition costs and administrative expenses
Policy acquisition costs and administrative expenses	C	$	1,083		$	446		$	86		$	1,468		$	102		$	110		$	3,295
Expense adjustments - favorable (unfavorable)			2			-			-			-			2			-			4

CAY policy acquisition costs and administrative expenses	D	$	1,085		$	446		$	86		$	1,468		$	104		$	110		$	3,299


Denominator
Net premiums earned	E	$	5,222		$	1,846		$	1,559		$	4,053		$	287					$	12,967
Reinstatement premiums (collected) expensed on catastrophe losses			-			-			-			-			(1	)					(1	)
Net premiums earned adjustments on PPD - unfavorable (favorable)			14			2			-			-			(1	)					15
PPD reinstatement premiums - unfavorable (favorable)			-			-			-			16			-						16

Net premiums earned excluding adjustments	F	$	5,236		$	1,848		$	1,559		$	4,069		$	285					$	12,997


P&C combined ratio
Loss and loss expense ratio	A/E		65.5%			36.2%			83.8%			50.2%			45.2%						58.7%
Policy acquisition cost and administrative expense ratio	C/E		20.8%			24.1%			5.5%			36.2%			35.5%						25.4%

P&C combined ratio			86.3%			60.3%			89.3%			86.4%			80.7%						84.1%


CAY P&C combined ratio ex Cats
Loss and loss expense ratio, adjusted	B/F		61.4%			45.8%			83.5%			48.2%			42.1%						57.3%
Policy acquisition cost and administrative expense ratio, adjusted	D/F		20.7%			24.1%			5.5%			36.1%			36.6%						25.3%

CAY P&C combined ratio ex Cats			82.1%			69.9%			89.0%			84.3%			78.7%						82.6%


Combined ratio
Combined ratio																					84.1%
Add: impact of gains and losses on crop derivatives																					0.0%

P&C combined ratio																					84.1%

Note: The ratios above are calculated using whole U.S. dollars. Accordingly, calculations using rounded amounts may differ. Letters A, B, C, D, E, and F included in the table are references for calculating the ratios above.


Reconciliation Non-GAAP 4		Page 30

Chubb Limited

Non-GAAP Financial Measures - 5

(in millions of U.S. dollars, except ratios)

(Unaudited)

Regulation G - Non-GAAP Financial Measures (continued)

P&C combined ratio (continued)


YTD 2026		North America Commercial P&C Insurance			North America Personal P&C Insurance			North America Agricultural Insurance			Overseas General Insurance			Global Reinsurance			Corporate			Total P&C
Numerator
Losses and loss expenses
Losses and loss expenses/policy benefits		$	10,014		$	2,493		$	1,874		$	5,614		$	388		$	224		$	20,607
Realized (gains) losses on crop derivatives			-			-			11			-			-			-			11

Adjusted losses and loss expenses/policy benefits	A	$	10,014		$	2,493		$	1,885		$	5,614		$	388		$	224		$	20,618

Catastrophe losses and related adjustments
Catastrophe losses, net of related adjustments			(741	)		(551	)		(23	)		(338	)		(27	)		-			(1,680	)
Reinstatement premiums collected (expensed) on catastrophe losses			-			-			-			-			1			-			1

Catastrophe losses, gross of related adjustments			(741	)		(551	)		(23	)		(338	)		(28	)		-			(1,681	)

PPD and related adjustments
PPD, net of related adjustments - favorable (unfavorable)			214			553			82			439			16			(224	)		1,080
Net premiums earned adjustments on PPD - unfavorable (favorable)			19			2			-			-			(1	)		-			20
Expense adjustments - unfavorable (favorable)			2			-			-			-			2			-			4
PPD reinstatement premiums - unfavorable (favorable)			-			-			-			33			-			-			33

PPD, gross of related adjustments - favorable (unfavorable)			235			555			82			472			17			(224	)		1,137

CAY loss and loss expense ex Cats	B	$	9,508		$	2,497		$	1,944		$	5,748		$	377		$	-		$	20,074

Policy acquisition costs and administrative expenses
Policy acquisition costs and administrative expenses	C	$	3,270		$	1,311		$	153		$	4,323		$	319		$	327		$	9,703
Expense adjustments - favorable (unfavorable)			(2	)		-			-			-			(2	)		-			(4	)

CAY policy acquisition costs and administrative expenses	D	$	3,268		$	1,311		$	153		$	4,323		$	317		$	327		$	9,699


Denominator
Net premiums earned	E	$	15,584		$	5,409		$	2,389		$	11,817		$	912					$	36,111
Reinstatement premiums (collected) expensed on catastrophe losses			-			-			-			-			(1	)					(1	)
Net premiums earned adjustments on PPD - unfavorable (favorable)			19			2			-			-			(1	)					20
PPD reinstatement premiums - unfavorable (favorable)			-			-			-			33			-						33

Net premiums earned excluding adjustments	F	$	15,603		$	5,411		$	2,389		$	11,850		$	910					$	36,163


P&C combined ratio
Loss and loss expense ratio	A/E		64.3%			46.1%			78.9%			47.5%			42.5%						57.1%
Policy acquisition cost and administrative expense ratio	C/E		20.9%			24.2%			6.4%			36.6%			35.0%						26.9%

P&C combined ratio			85.2%			70.3%			85.3%			84.1%			77.5%						84.0%


CAY P&C combined ratio ex Cats
Loss and loss expense ratio, adjusted	B/F		60.9%			46.2%			81.3%			48.5%			41.4%						55.5%
Policy acquisition cost and administrative expense ratio, adjusted	D/F		21.0%			24.2%			6.4%			36.5%			34.9%						26.8%

CAY P&C combined ratio ex Cats			81.9%			70.4%			87.7%			85.0%			76.3%						82.3%


Combined ratio
Combined ratio																					83.9%
Add: impact of gains and losses on crop derivatives																					0.1%

P&C combined ratio																					84.0%


Reconciliation Non-GAAP 5		Page 31

Chubb Limited

Non-GAAP Financial Measures - 6

(in millions of U.S. dollars, except ratios)

(Unaudited)

Regulation G - Non-GAAP Financial Measures (continued)

P&C combined ratio (continued)


Q3 2025		North America Commercial P&C Insurance		North America Personal P&C Insurance		North America Agricultural Insurance		Overseas General Insurance		Global Reinsurance		Corporate		Total P&C
Numerator
Losses and loss expenses
Losses and loss expenses/policy benefits		$	3,083	$	713	$	1,217	$	1,826	$	139	$	61	$	7,039
Realized (gains) losses on crop derivatives			-		-		7		-		-		-		7

Adjusted losses and loss expenses/policy benefits	A	$	3,083	$	713	$	1,224	$	1,826	$	139	$	61	$	7,046

Catastrophe losses and related adjustments
Catastrophe losses, net of related adjustments			(72)		(161)		(4)		(42)		(6)		-		(285)
Reinstatement premiums collected (expensed) on catastrophe losses			-		-		-		-		-		-		-

Catastrophe losses, gross of related adjustments			(72)		(161)		(4)		(42)		(6)		-		(285)

PPD and related adjustments
PPD, net of related adjustments - favorable (unfavorable)			26		282		30		84		-		(61)		361
Net premiums earned adjustments on PPD - unfavorable (favorable)			68		-		-		-		-		-		68
Expense adjustments - unfavorable (favorable)			3		-		-		-		-		-		3
PPD reinstatement premiums - unfavorable (favorable)			-		-		-		-		-		-		-

PPD, gross of related adjustments - favorable (unfavorable)			97		282		30		84		-		(61)		432

CAY loss and loss expense ex Cats	B	$	3,108	$	834	$	1,250	$	1,868	$	133	$	-	$	7,193

Policy acquisition costs and administrative expenses
Policy acquisition costs and administrative expenses	C	$	1,056	$	421	$	91	$	1,343	$	105	$	113	$	3,129
Expense adjustments - favorable (unfavorable)			(3)		-		-		-		-		-		(3)

CAY policy acquisition costs and administrative expenses	D	$	1,053	$	421	$	91	$	1,343	$	105	$	113	$	3,126


Denominator
Net premiums earned	E	$	5,080	$	1,741	$	1,495	$	3,803	$	315			$	12,434
Reinstatement premiums (collected) expensed on catastrophe losses			-		-		-		-		-				-
Net premiums earned adjustments on PPD - unfavorable (favorable)			68		-		-		-		-				68
PPD reinstatement premiums - unfavorable (favorable)			-		-		-		-		-				-

Net premiums earned excluding adjustments	F	$	5,148	$	1,741	$	1,495	$	3,803	$	315			$	12,502


P&C combined ratio
Loss and loss expense ratio	A/E		60.7%		41.0%		81.9%		48.0%		43.8%				56.7%
Policy acquisition cost and administrative expense ratio	C/E		20.8%		24.1%		6.1%		35.3%		33.6%				25.1%

P&C combined ratio			81.5%		65.1%		88.0%		83.3%		77.4%				81.8%


CAY P&C combined ratio ex Cats
Loss and loss expense ratio, adjusted	B/F		60.4%		48.0%		83.6%		49.1%		42.0%				57.5%
Policy acquisition cost and administrative expense ratio, adjusted	D/F		20.4%		24.1%		6.1%		35.3%		33.6%				25.0%

CAY P&C combined ratio ex Cats			80.8%		72.1%		89.7%		84.4%		75.6%				82.5%


Combined ratio
Combined ratio															81.7%
Add: impact of gains and losses on crop derivatives															0.1%

P&C combined ratio															81.8%


Reconciliation Non-GAAP 6		Page 32

Chubb Limited

Non-GAAP Financial Measures - 7

(in millions of U.S. dollars, except ratios)

(Unaudited)

Regulation G - Non-GAAP Financial Measures (continued)

P&C combined ratio (continued)


YTD 2025		North America Commercial P&C Insurance		North America Personal P&C Insurance		North America Agricultural Insurance		Overseas General Insurance		Global Reinsurance		Corporate		Total P&C
Numerator
Losses and loss expenses
Losses and loss expenses/policy benefits		$	9,372	$	3,628	$	1,791	$	5,254	$	513	$	145	$	20,703
Realized (gains) losses on crop derivatives			-		-		8		-		-		-		8

Adjusted losses and loss expenses/policy benefits	A	$	9,372	$	3,628	$	1,799	$	5,254	$	513	$	145	$	20,711

Catastrophe losses and related adjustments
Catastrophe losses, net of related adjustments			(455)		(1,645)		(20)		(349)		(87)		-		(2,556)
Reinstatement premiums collected (expensed) on catastrophe losses			-		(50)		-		(5)		13		-		(42)

Catastrophe losses, gross of related adjustments			(455)		(1,595)		(20)		(344)		(100)		-		(2,514)

PPD and related adjustments
PPD, net of related adjustments - favorable (unfavorable)			246		403		63		282		15		(144)		865
Net premiums earned adjustments on PPD - unfavorable (favorable)			73		-		-		-		-		-		73
Expense adjustments - unfavorable (favorable)			3		-		(3)		-		-		-		-
PPD reinstatement premiums - unfavorable (favorable)			-		-		-		-		(2)		-		(2)

PPD, gross of related adjustments - favorable (unfavorable)			322		403		60		282		13		(144)		936

CAY loss and loss expense ex Cats	B	$	9,239	$	2,436	$	1,839	$	5,192	$	426	$	1	$	19,133

Policy acquisition costs and administrative expenses
Policy acquisition costs and administrative expenses	C	$	3,181	$	1,252	$	160	$	3,792	$	323	$	324	$	9,032
Expense adjustments - favorable (unfavorable)			(3)		-		3		-		-		-		-

CAY policy acquisition costs and administrative expenses	D	$	3,178	$	1,252	$	163	$	3,792	$	323	$	324	$	9,032


Denominator
Net premiums earned	E	$	15,245	$	4,996	$	2,258	$	10,554	$	1,021			$	34,074
Reinstatement premiums (collected) expensed on catastrophe losses			-		50		-		5		(13)				42
Net premiums earned adjustments on PPD - unfavorable (favorable)			73		-		-		-		-				73
PPD reinstatement premiums - unfavorable (favorable)			-		-		-		-		(2)				(2)

Net premiums earned excluding adjustments	F	$	15,318	$	5,046	$	2,258	$	10,559	$	1,006			$	34,187


P&C combined ratio
Loss and loss expense ratio	A/E		61.5%		72.6%		79.7%		49.8%		50.1%				60.8%
Policy acquisition cost and administrative expense ratio	C/E		20.8%		25.1%		7.1%		35.9%		31.8%				26.5%

P&C combined ratio			82.3%		97.7%		86.8%		85.7%		81.9%				87.3%


CAY P&C combined ratio ex Cats
Loss and loss expense ratio, adjusted	B/F		60.3%		48.3%		81.5%		49.2%		42.3%				56.0%
Policy acquisition cost and administrative expense ratio, adjusted	D/F		20.8%		24.8%		7.2%		35.9%		32.2%				26.4%

CAY P&C combined ratio ex Cats			81.1%		73.1%		88.7%		85.1%		74.5%				82.4%


Combined ratio
Combined ratio															87.3%
Add: impact of gains and losses on crop derivatives															0.0%

P&C combined ratio															87.3%


Reconciliation Non-GAAP 7		Page 33

Chubb Limited

Glossary

Chubb Limited Consolidated comprises all segments including Corporate.

Total P&C comprises all segments (including Corporate) except the Life Insurance segment.

Global P&C comprises all segments (including Corporate) except the Life Insurance and North America Agricultural segments.

P&C combined ratio: The sum of the loss and loss expense ratio, policy acquisition cost ratio and the administrative expense ratio excluding the Life Insurance segment and including the realized gains and losses on the crop derivatives.

Book value per common share: Chubb shareholders’ equity divided by the shares outstanding.

Tangible book value per common share: Chubb shareholders’ equity less Chubb goodwill and other intangible assets, net of tax, divided by the shares outstanding.

Average market yield of fixed income investments: Weighted average yield based on the current market value of our fixed maturities and other debt investments.

Average book yield of fixed income investments: Weighted average yield based on the amortized cost of our fixed maturities and other debt investments.

Total capitalization: The sum of the short-term debt, long-term debt, hybrid debt, and Chubb shareholders’ equity.

Integration expenses and severance: Integration expenses comprise legal and professional fees and all other costs directly related to the integration activities primarily of the Cigna acquisition, as well as severance expenses incurred as part of transformation initiatives to enhance operational efficiency. Integration expenses and severance are incurred by Chubb and are included in Corporate. These costs are not related to the on-going business activities of the segments and are therefore excluded from our definition of segment income.

Catastrophe losses (Cats): We generally define catastrophe loss events consistent with the definition of the Property Claims Service (PCS) for events in the U.S. and Canada. PCS defines a catastrophe as an event that causes damage of $25 million or more in insured losses and affects a significant number of insureds. For events outside of the U.S. and Canada, we generally use a similar definition. Catastrophe loss events are events that occurred in the current calendar year only. Changes in catastrophe loss estimates in the current calendar year that relate to loss events that occurred in previous calendar years are considered prior period development.

Prior period development (PPD) arises from changes to loss estimates recognized in the current year that relate to loss events that occurred in previous calendar years and excludes the effect of losses from the development of earned premium from previous accident years.

Reinstatement premiums are additional premiums paid on certain reinsurance agreements in order to reinstate coverage that had been exhausted by loss occurrences. The reinstatement premium amount is typically a pro rata portion of the original ceded premium paid based on how much of the reinsurance limit had been exhausted.

Net premiums earned adjustments within prior period development are adjustments to the initial premium earned on retrospectively rated policies based on actual claim experience that develops after the policy period ends. The premium adjustments correlate to the prior period loss development on these same policies and are fully earned in the period the adjustments are recorded.

Prior period expense adjustments typically relate to either profit commission reserves or policyholder dividend reserves based on actual claim experience that develops after the policy period ends. The expense adjustments correlate to the prior period loss development on these same policies.

Segment income (loss) includes underwriting income (loss), adjusted net investment income, other income (expense) – operating, and adjusted amortization expense of purchased intangibles.

Non-premium revenues and expenses included in Other income and expense, principally pertain to the management of third-party assets by Huatai Asset Management Co., Ltd. (HAM) and Huatai Baoxing, which are unrelated to Huatai Group’s core insurance operations. These revenues and expenses are recognized in the period in which the services are performed.

NM: Not meaningful.


Glossary		Page 34

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