Chubb Ltd

Chubb Ltd is a global insurance and reinsurance holding company that underwrites commercial and personal property & casualty, accident & health, and life insurance, and provides reinsurance capacity to other insurers. It generates revenue primarily from premiums and fees for underwriting services plus investment income from a large fixed‑income portfolio, leveraging broad geographic distribution and specialty underwriting expertise.^[1]

Business Segments

• North America Commercial P&C Insurance — specialty and broad commercial property, casualty, financial lines and professional liability; the company’s largest business by premium volume (major share of group underwriting).^[2]
• North America Personal P&C Insurance — personal auto, homeowners and high‑net‑worth specialty personal lines sold through agents and brokers.^[2]
• Overseas General Insurance and Global Reinsurance — international commercial & personal P&C operations plus treaty and facultative reinsurance that diversify geographic risk exposure.^[2]
• Life, Accident & Health and Agricultural lines — life insurance, supplemental A&H and specialty agricultural insurance represent smaller, complementary revenue streams.^[2]

Competitive Position

• Scale and diversification — one of the world’s largest publicly traded P&C insurers with broad global distribution across brokers, agents and direct channels, which supports underwriting scale and access to large commercial accounts.^[3]
• Underwriting expertise and ratings — a reputation for specialty underwriting, conservative reserving and strong financial‑strength ratings that help win large, complex risks and support customer trust.^[1]

Investment Considerations

• Durable underwriting business with investment income support — diversified premium base and a large investment portfolio can provide steady earnings through underwriting margins plus investment returns.^[4]
• Exposure to catastrophic and reserving risk — performance is sensitive to natural catastrophe losses, reserve adequacy and reinsurance costs, which can cause earnings volatility in loss years.^[2]
• Capital strength and return of capital optionality — sizable capital base and access to markets support dividends and buybacks, but distributions depend on regulatory and rating‑agency considerations.^[2]
• Competitive and pricing cycle risk — the specialty commercial insurance market is cyclical and competitive; sustained soft pricing in some classes can pressure underwriting margins.^[2]