Chubb’s Q1 2025 profit dips 38%

P&C lines' premium growth was 6.1% for the region.

Chubb reported a decline in earnings for the first quarter, with net income falling 37.9% year-on-year (YoY) to $1.33b. 

The quarter’s diluted earnings per share were at $3.29.

Chubb’s property and casualty (P&C) underwriting income came in at $441m, with a combined ratio of 95.7%. 

Excluding catastrophe losses, current accident year underwriting income rose 12.2% YoY to $1.83b, with a combined ratio of 82.3%.

P&C net premiums written rose 3.2% to $10.93b, or 5.0% in constant currency. 

Overseas General premiums rose 1.8%, or 6.5% in constant dollars, including 5.0% growth in consumer insurance and 7.3% in commercial insurance. 

P&C lines grew 9.3%, while financial lines declined 1.6%. On a regional basis, Asia’s premium growth was 6.1%.

Life Insurance net premiums written climbed 5.3% to $1.72b, or 10.3% in constant dollars.