Financial Data and Key Metrics Changes - The company achieved record earnings for both the quarter and the year, with core operating income of nearly $3 billion, or $752 per share, up about 22% and 25% respectively [5] - Total company net premiums grew almost 9%, with Property & Casualty (P&C) up 7.7% and life up about 17% [5] - For the full year, operating income was just shy of $10 billion, or $24.79 per share, up about 9% and 11% respectively over the prior year [8] - Per share tangible book value grew 25.7% last year [9] Business Line Data and Key Metrics Changes - P&C underwriting income was $2.2 billion for the quarter, up 40%, with a record low combined ratio of 81.2% [5] - Life division produced $322 million of pre-tax income in the quarter, up just shy of 20% [15] - Adjusted net investment income rose 9% to almost $7 billion for the year [8] Market Data and Key Metrics Changes - International P&C premiums were up 10.8%, with Latin America growing 14.7% and Asia growing 13% [12] - In North America, total P&C premiums were up over 6.5%, with agriculture up over 45% [13] - Premiums in major accounts and specialty grew 3%, with major account business up 0.5% [13] Company Strategy and Development Direction - The company is focused on improving its competitive profile while continuing to invest in growth opportunities across various business lines [15] - The management highlighted the importance of a diversified business model across geography, product, and customer segments [10] - The company is pursuing opportunities in multiple directions to earn adequate risk-adjusted returns [70] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to generate strong growth in operating earnings and double-digit growth in EPS and tangible book value for 2026 [15] - The competitive environment in the commercial P&C underwriting market is becoming more competitive, particularly in large account property [11] - Management acknowledged the challenges posed by rising loss costs and inflation in liability insurance [28] Other Important Information - The company returned $1.5 billion of capital to shareholders in the quarter, contributing to a total of $4.9 billion for the year [16] - Pre-tax catastrophe losses were $365 million for the quarter, with full-year losses at $2.9 billion [17] Q&A Session Summary Question: Sustainability of U.S. commercial lines margins in 2026 - Management indicated that while some lines of business may face pricing pressures, they are confident in the combined ratios and underwriting income [24][25] Question: Implications of excess profit laws on personal lines profitability - Management emphasized the importance of measuring personal lines over extended periods and cautioned against politicizing affordability issues [27][28] Question: Growth opportunities in Latin America outside of Mexico - Management highlighted partnerships with local banks for distribution and emphasized growth in consumer insurance [34] Question: Competitive dynamics in Asia - Management noted the challenges of competing in diverse markets and emphasized the importance of establishing local franchises [38] Question: Trends in financial lines and workers' compensation pricing - Management acknowledged the variability in financial lines and noted a strong quarter for workers' compensation, but cautioned against assuming a trend [100] Question: Impact of foreign exchange volatility on operations - Management stated that they do not hedge revenue or income and that currency fluctuations can impact growth [56][60] Question: Digital transformation and its impact on operations - Management discussed ongoing projects aimed at improving operational efficiency and the importance of adapting to digital changes [51][91]

Financial Data and Key Metrics Changes - The company achieved record earnings for both the quarter and the year, with core operating income of nearly $3 billion, or $752 per share, up about 22% and 25% respectively [4] - Total company net premiums grew almost 9%, with P&C up 7.7% and life up about 17% [4] - For the full year, record operating income was just shy of $10 billion, or $24.79 per share, up about 9% and 11% respectively over prior [6] - Per share tangible book value grew 25.7% last year [8] Business Line Data and Key Metrics Changes - P&C underwriting income was $2.2 billion, up 40%, with a record low combined ratio of 81.2% for the quarter [4] - Life division produced $322 million of pre-tax income in the quarter, up just shy of 20% [14] - Adjusted net investment income rose 9% to almost $7 billion for the year [6] Market Data and Key Metrics Changes - Premiums in overseas general were up 10.8%, with global retail premiums up 12.5% [11] - In North America, total P&C premiums were up over 6.5%, with agriculture up over 45% [12] - Premiums in major accounts and specialty grew 3%, with major account business up 0.5% [12] Company Strategy and Development Direction - The company is focused on improving its competitive profile while continuing to invest in growth opportunities across various business lines [14] - The commercial P&C underwriting environment is becoming more competitive, particularly in large account property and E&S [10] - The company is pursuing opportunities in multiple directions to earn adequate risk-adjusted returns [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to generate strong growth in operating earnings and double-digit growth in EPS and tangible book value for 2026 [14] - The company is mindful of the affordability issue in the U.S. and the rising costs of liability and homeowners insurance [22] - Management noted that while the pricing environment is competitive, they are comfortable with the combined ratios being published [20] Other Important Information - The company returned $1.5 billion of capital to shareholders in the quarter, contributing to a total of $4.9 billion for the year [16] - Pre-tax catastrophe losses were $365 million for the quarter, with annual industry CAT losses approaching $129 billion [7][17] - The company expects adjusted net investment income in the first quarter of 2026 to be between $1.81-$1.84 billion [18] Q&A Session Summary Question: Sustainability of U.S. commercial lines margins in 2026 - Management does not provide forward guidance but is confident in the combined ratios and growth in underwriting income contributing to EPS growth [20] Question: Implications of excess profit laws on personal lines profitability - Management highlighted the importance of measuring personal lines over extended periods and cautioned against politicizing affordability issues [22] Question: Growth opportunities in Latin America outside of Mexico - Management discussed partnerships with local banks for distribution of consumer insurance and noted strong growth in consumer businesses across various countries [24][25] Question: Competitive dynamics in Asia - Management emphasized the need for broad capabilities and local franchises to compete effectively in the diverse markets of Asia [26] Question: Trends in financial lines and workers' comp pricing - Management noted that financial lines are diverse and some areas are growing while others are shrinking, with recent positive trends in public D&O pricing [51]

Chubb Limited Investor Presentation December 2025 Chubb Shareholder Value Creation Model Balance sheet1: $90B total capital, AA S&P rated, $166B invested asset; underwriting and investment management capability, strength of loss reserves, earning power, liquidity and cash flow Breadth of capability and diversification globally means opportunity for growth P&C revenue growth and superior underwriting margin = underwriting income growth and reserve strength Investment income: large and growing invested asset, ...

Financial Performance - Chubb reported $15.34 billion in revenue for the quarter ended December 2025, a year-over-year increase of 7.4% [1] - The EPS for the same period was $7.52, compared to $6.02 a year ago, representing a surprise of +13.89% over the consensus estimate of $6.60 [1] - The reported revenue exceeded the Zacks Consensus Estimate of $15.09 billion by +1.7% [1] Key Metrics - The combined ratio was 81.2%, better than the seven-analyst average estimate of 83.6% [4] - The loss and loss expense ratio was 54.3%, compared to the seven-analyst average estimate of 56.3% [4] - Net premiums written for North American Personal P&C Insurance were $1.72 billion, slightly below the average estimate of $1.75 billion, but showed a year-over-year change of +6.1% [4] - Total net premiums written for P&C were $11.31 billion, exceeding the average estimate of $11.05 billion, with a year-over-year increase of +7.7% [4] - Global Reinsurance net premiums written were $217 million, below the average estimate of $235.08 million, reflecting a year-over-year decrease of -3.1% [4] - Overseas General Insurance net premiums written were $3.81 billion, surpassing the average estimate of $3.71 billion, with a year-over-year increase of +10.8% [4] - Net premiums earned for Total P&C were $11.72 billion, exceeding the average estimate of $11.61 billion, representing a +6.2% change year-over-year [4] Stock Performance - Chubb's shares returned -1.3% over the past month, while the Zacks S&P 500 composite increased by +1.8% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Core Insights - Chubb reported quarterly earnings of $7.52 per share, exceeding the Zacks Consensus Estimate of $6.6 per share, and showing an increase from $6.02 per share a year ago, resulting in an earnings surprise of +13.89% [1] - The company achieved revenues of $15.34 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 1.70% and up from $14.29 billion year-over-year [2] Earnings Performance - Chubb has consistently surpassed consensus EPS estimates over the last four quarters, achieving this four times [2] - The company had an earnings surprise of +26.09% in the previous quarter, where it reported earnings of $7.49 per share against an expected $5.94 [1] Future Outlook - The sustainability of Chubb's stock price movement will depend on management's commentary during the earnings call and the revisions of earnings estimates [3][4] - Current consensus EPS estimate for the upcoming quarter is $6.51 on revenues of $14.7 billion, and for the current fiscal year, it is $26.15 on revenues of $63.01 billion [7] Industry Context - The Insurance - Property and Casualty industry, to which Chubb belongs, is currently ranked in the top 37% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked using tools like the Zacks Rank [5]

Chubb Limited Financial Supplement for the Quarter and Year Ended December 31, 2025 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 ...

Company Performance - Chubb's stock closed at $309.56, reflecting a +1.11% change from the previous day's closing price, outperforming the S&P 500's 0.43% loss [1] - Over the past month, Chubb's shares have decreased by 1.91%, while the Finance sector gained 0.35% and the S&P 500 increased by 0.89% [1] Upcoming Earnings - Chubb is set to release its earnings report on February 3, 2026, with projected EPS of $6.51, indicating an 8.14% increase year-over-year [2] - Revenue is expected to reach $15.09 billion, reflecting a 5.59% growth compared to the same quarter last year [2] Full Year Estimates - For the full year, earnings are projected at $23.83 per share, showing a +5.86% change from the previous year, while revenue is estimated at $59.62 billion, indicating no growth [3] Analyst Estimates and Ratings - Recent adjustments to analyst estimates for Chubb indicate a positive outlook on the company's operations and profit generation [3] - The Zacks Rank system, which evaluates estimate changes, currently ranks Chubb at 3 (Hold) [5] Valuation Metrics - Chubb has a Forward P/E ratio of 11.71, which is higher than the industry average of 10.24, suggesting it is trading at a premium [6] - The company has a PEG ratio of 1.95, compared to the industry average of 1.67, indicating a higher valuation relative to expected earnings growth [7] Industry Context - The Insurance - Property and Casualty industry, part of the Finance sector, holds a Zacks Industry Rank of 154, placing it in the bottom 38% of over 250 industries [8]

Core Insights - Chubb Limited (CB) is anticipated to show improvements in both revenue and earnings for the fourth quarter of 2025, with results expected to be reported on February 3, after market close [1] Revenue and Earnings Estimates - The Zacks Consensus Estimate for CB's fourth-quarter revenues is $15.1 billion, reflecting a 5.8% increase from the previous year [2] - The consensus estimate for earnings is $6.58 per share, which indicates a year-over-year increase of 9.3% [2] - The earnings estimate has risen by 2.7% over the past 30 days [2] Earnings Prediction Model - The model indicates a likely earnings beat for CB, supported by a positive Earnings ESP of +0.84% and a Zacks Rank of 3 (Hold) [3][4] Factors Influencing Q4 Results - The fourth-quarter revenue is expected to benefit from strong investment results and premium revenue growth, driven by a robust product portfolio and strong retention across various product lines and regions [5] - The high net-worth personal lines business is projected to see growth from new business and retention, with positive rates across all lines [6] - Life Insurance premiums are expected to increase due to strong new business in North Asia, particularly in Huatai, Hong Kong, Taiwan, and Korea [6] Investment Income and Underwriting Profitability - Net investment income is anticipated to be $1.775 billion, benefiting from higher average invested assets and reinvestment rates [7] - The combined ratio is expected to improve due to better pricing and prudent underwriting, with the Zacks Consensus Estimate set at 83.4 [8] Expense and Share Buybacks - Expenses are projected to rise due to increased policy acquisition costs and administrative expenses, estimated at $11.4 billion [8] - Share buybacks in the quarter are likely to positively impact the bottom line [9] Summary of Q4 Performance - CB's Q4 earnings are projected at $6.58 per share, with strong premiums, investment income, and digital initiatives expected to enhance top-line performance [11]

Company Overview - Chubb Limited, formerly known as ACE Limited, is one of the world's largest providers of property and casualty (P&C) insurance and reinsurance, with a market capitalization of $86 billion [12] - The company has diversified through acquisitions into various specialty lines, including marine, medical risk, excess property, environmental, and terrorism insurance, and operates in 54 countries and territories [12] Investment Ratings - Chubb has a Zacks Rank of 3 (Hold) and a VGM Score of B, indicating a solid position but not a strong buy [13] - The Value Style Score is also rated B, supported by attractive valuation metrics such as a forward P/E ratio of 11.62, which may appeal to value investors [13] Earnings Estimates - In the last 60 days, five analysts have revised their earnings estimates higher for fiscal 2025, with the Zacks Consensus Estimate increasing by $0.39 to $24.10 per share [13] - Chubb has an average earnings surprise of +13.4%, suggesting a positive trend in earnings performance [13] Investment Consideration - With a solid Zacks Rank and top-tier Value and VGM Style Scores, Chubb is recommended to be on investors' short lists for potential investment opportunities [14]

Core Viewpoint - Analysts expect Chubb (CB) to report quarterly earnings of $6.58 per share, reflecting a year-over-year increase of 9.3%, with revenues projected at $15.11 billion, up 5.8% from the previous year [1] Earnings Estimates - There have been no revisions in the consensus EPS estimate for the quarter over the last 30 days, indicating stability in analysts' forecasts [1][2] Key Metrics Forecast - Analysts predict 'Net premiums written - North American Personal P&C Insurance' to reach $1.75 billion, indicating a year-over-year change of +7.8% [4] - 'Net investment income - North America Commercial P&C Insurance' is expected to be $1.01 billion, reflecting an increase of +8.3% year-over-year [4] - The average forecast for 'Net premiums earned - Overseas General Insurance' is $3.73 billion, suggesting an increase of +8.6% from the prior-year quarter [4] Additional Financial Metrics - 'Net investment income - North American Personal P&C Insurance' is projected at $124.77 million, a change of +12.4% from the year-ago quarter [5] - The 'Combined ratio' is expected to reach 83.9%, down from 85.7% in the same quarter last year [5] - The consensus estimate for 'Loss and loss expense ratio' stands at 56.6%, compared to 59.4% reported in the same quarter of the previous year [5] Ratios and Performance Indicators - The 'North America Personal P&C Insurance - Loss and loss expense ratio' is estimated at 53.7%, down from 57.1% year-over-year [6] - The 'Policy acquisition cost ratio' is expected to remain stable at 20.0%, consistent with the previous year's figure [6] - The 'Administrative expense ratio' is projected at 5.5%, unchanged from the same quarter last year [7] - The 'Combined ratio' for North America Personal P&C Insurance is expected to be 79.2%, down from 82.6% year-over-year [7] Overseas Metrics - The 'Overseas General Insurance - Policy acquisition cost ratio' is estimated at 26.7%, slightly up from 26.0% in the same quarter last year [8] - The 'Overseas General Insurance - Administrative expense ratio' is projected at 9.9%, compared to 9.7% reported in the previous year [8] Stock Performance - Chubb shares have decreased by -2.7% over the past month, contrasting with the Zacks S&P 500 composite's increase of +0.8% [9]