Chubb Limited (CB) Q3 FY2026 earnings

Reported results

• Net income (GAAP) was $2.84 billion, up 1.5%, with per-share net income (GAAP) of $7.30, up 4.4%
• Core operating income (non-GAAP) was $2.98 billion, down 2.2%, with core operating income per share (non-GAAP) of $7.66, up 0.8%
• Consolidated net premiums written were $15.143 billion, up 1.9%; P&C net premiums written were $13.183 billion, up 1.9%; Life Insurance net premiums written were $1.96 billion, up 1.4%
• P&C underwriting income was $2.061 billion with a combined ratio of 84.1%; P&C current accident year underwriting income excluding catastrophe losses (non-GAAP) was $2.255 billion, up 3.3%, with a current accident year combined ratio excluding catastrophe losses (non-GAAP) of 82.6%
• Adjusted net investment income (non-GAAP) was $1.89 billion, up 6.3%; pre-tax net investment income (GAAP) was $1.791 billion, up 8.6%
• Annualized return on equity (ROE) was 15.3%; annualized core operating return on tangible equity (ROTE) (non-GAAP) was 21.6%; annualized core operating ROE (non-GAAP) was 14.9%

Notes

Effective Q3 2026, segment income and core operating income definitions were changed to exclude intangible amortization expenses related to purchased intangibles other than long-term distribution agreements. Prior-period results have been restated. The release includes nine-month results: net income (GAAP) of $8.018 billion ($20.46 per share), up 16.2% per share; core operating income (non-GAAP) of $8.597 billion ($21.94 per share), up 24.5% per share. Book value per share increased 5.1% from September 30, 2025, while tangible book value per share increased 5.7%; excluding AOCI, tangible book value per share was up 15.4%.

Price and volatility reaction

The stock moved -0.8% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -3.2 vol points across the event (constant-maturity series — not the front-week crush).

Source

The figures above come from the earnings release the company filed with the SEC on 2026-10-20 (8-K, Item 2.02). Read the original filing on sec.gov.