Chubb Ltd CB
Chubb Limited is the Swiss-incorporated holding company of the Chubb Group of Companies. Chubb Limited, which is headquartered in Zurich, Switzerland, and its direct and indirect subsidiaries (collectively, the Chubb Group of Companies, Chubb, we, us, or our) are a global insurance and reinsurance organization, serving the needs of a diverse group of clients worldwide. At December 31, 2025, we had total assets of $272 billion and total shareholders' equity, of $74 billion (excluding noncontrolling interests). Chubb was incorporated in 1985 at which time it opened its first business office in Bermuda and continues to maintain operations in Bermuda.
We have grown our business through increased premium volume, expansion of product offerings and geographic reach, and the acquisition of other companies, to become a global property and casualty (P&C) leader. We expanded our personal accident and supplemental health (A&H), and life insurance business with the acquisition of Cigna's business in several Asian markets in 2022. We further advanced our goal of greater product, customer, and geographical diversification with incremental purchases that led to a controlling majority interest in Huatai Insurance Group Co. Ltd (Huatai Group), a Chinese financial services holding company with separate P&C, life, and asset management subsidiaries (collectively, Huatai) on July 1, 2023. At December 31, 2025, our ownership interest in Huatai Group was approximately 87.2 percent. Refer to Note 2 to the Consolidated Financial Statements for additional information on our acquisitions.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $59.40B | $55.75B | $49.73B | $43.10B | $40.87B | $35.99B | $34.19B | $32.72B | $32.24B | $31.47B |
| SG&A | $4.50B | $4.38B | $4.01B | $3.40B | $3.13B | $2.98B | $3.03B | $2.89B | $2.83B | $3.08B |
| Interest expense | $764.0M | $741.0M | $672.0M | $570.0M | $492.0M | $516.0M | $552.0M | $641.0M | $607.0M | $605.0M |
| Pre-tax income | $13.04B | $11.46B | $9.53B | $6.49B | $9.79B | $4.16B | $5.25B | $4.66B | $3.72B | $4.95B |
| Income tax | $2.42B | $1.81B | $511.0M | $1.24B | $1.27B | $629.0M | $795.0M | $695.0M | $139.0M | $815.0M |
| Net income | $10.31B | $9.27B | $9.03B | $5.25B | $8.53B | $3.53B | $4.45B | $3.96B | $3.86B | $4.13B |
| EPS, basic | 25.93 | 22.94 | 21.97 | 12.50 | 19.38 | 7.82 | 9.77 | 8.55 | 8.26 | 8.94 |
| EPS, diluted | 25.68 | 22.70 | 21.80 | 12.39 | 19.24 | 7.79 | 9.71 | 8.49 | 8.19 | 8.87 |
| Shares, diluted (wtd. avg.) | $401.5M | $408.5M | $414.2M | $423.5M | $443.2M | $453.4M | $458.9M | $466.8M | $471.2M | $465.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.47B | $2.55B | $2.62B | $2.13B | $1.81B | $1.84B | $1.65B | $1.34B | $851.0M | $1.09B |
| Property, plant and equipment | $3.50B | $3.10B | $2.90B | $2.40B | $2.00B | $2.00B | $1.90B | $1.70B | $1.30B | $1.20B |
| Goodwill | $20.21B | $19.58B | $19.69B | $16.23B | $15.21B | $15.40B | $15.30B | $15.27B | $15.54B | $15.33B |
| Other intangibles | $6.24B | $6.38B | $6.78B | $5.44B | $5.46B | $5.81B | $6.06B | $6.14B | $6.51B | $6.76B |
| Total assets | $272.33B | $246.55B | $230.68B | $199.02B | $200.05B | $190.77B | $176.94B | $167.77B | $167.02B | $159.79B |
| Short-term debt | $1.50B | $800.0M | $1.46B | $475.0M | $999.0M | $0 | $1.30B | $509.0M | $1.01B | $500.0M |
| Long-term debt | $15.73B | $14.38B | $13.04B | $14.40B | $15.17B | $14.95B | $13.56B | $12.09B | $11.56B | $12.61B |
| Total liabilities | $192.55B | $178.15B | $166.99B | $148.50B | $140.34B | $131.33B | $121.61B | $117.46B | $115.85B | $111.51B |
| Retained earnings | $69.95B | $61.56B | $54.81B | $48.30B | $47.37B | $39.34B | $36.14B | $31.70B | $27.47B | $23.61B |
| Total equity | $73.76B | $64.02B | $63.69B | $50.52B | $58.33B | $59.44B | $55.33B | $50.31B | $51.17B | $48.27B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $12.82B | $16.18B | $12.63B | $11.26B | $11.15B | $9.79B | $6.34B | $5.48B | $4.50B | $5.29B |
| Investing cash flow | -$11.26B | -$13.92B | -$7.65B | -$5.65B | -$6.66B | -$7.52B | -$5.91B | -$2.94B | -$2.42B | -$5.32B |
| Financing cash flow | -$1.85B | -$2.18B | -$4.49B | -$5.14B | -$4.41B | -$2.08B | -$151.0M | -$1.99B | -$2.32B | -$742.0M |
| Dividends paid | $1.50B | $1.44B | $1.39B | $1.38B | $1.40B | $1.39B | $1.35B | $1.34B | $1.31B | $1.17B |
| Buybacks | $3.69B | $1.80B | $2.41B | $2.89B | $4.86B | $523.0M | $1.53B | $1.04B | $801.0M | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000896159-26-000005.
Others in SIC 6331
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| PGR | PROGRESSIVE CORP/OH/ | $127.29B | 11.4x | 16.3% |
| TRV | TRAVELERS COMPANIES, INC. | $77.04B | 13.5x | 5.2% |
| ALL | ALLSTATE CORP | $65.63B | 6.8x | 5.6% |
| AIG | AMERICAN INTERNATIONAL GROUP, INC. | $39.85B | 14.0x | -1.7% |
| HIG | HARTFORD INSURANCE GROUP, INC. | $37.48B | 10.4x | 3.3% |
| ACGL | ARCH CAPITAL GROUP LTD. | $33.47B | 8.5x | 14.3% |
| CINF | CINCINNATI FINANCIAL CORP | $26.26B | 11.3x | 11.4% |
| WRB | BERKLEY W R CORP | $25.67B | 15.5x | 9.9% |