Chubb's Record Financial Performance in 2025: Growth & Challenges

Chubb's financial performance in 2025 showcased a remarkable increase in its Property & Casualty (P&C) underwriting income, reaching a record $6.53 billion. This represents an 11.6% rise from the previous year and an industry-best combined ratio of 85.7%, according to their annual and fourth-quarter financial results. The growth in P&C net premiums written in 2025 soared to $47.56 billion, indicating a 5.4% increase compared to 2024. In North America, premium growth was led by a 7.5% rise in personal insurance and a 3.9% boost in commercial insurance, amounting to a 4.7% increase regionally. Internationally, the Overseas General segment observed a 7.5% growth, driven by an 11% uplift in consumer insurance and a 5.2% rise in commercial insurance. Key markets such as Asia, Latin America, and Europe reported growth of 10.7%, 6.3%, and 5.9%, respectively. Catastrophe losses before tax totaled $2.92 billion in 2025, up from $2.39 billion in the previous year. Despite these losses, Chubb experienced favorable prior period development, totaling $1.13 billion, compared to $856 million in 2024. The Life Insurance sector demonstrated robust performance, with net premiums written rising by 15.1% to $7.28 billion, and segment income surging by 13.1% to reach $1.24 billion. Chubb's total net income for 2025 reached $10.31 billion, or $25.68 per share, with core operating income at $9.95 billion or $24.79 per share. The company also declared record levels in net investment income, with a pre-tax total of $6.47 billion, and an adjusted net figure of $6.95 billion, each marking a 9% increase from 2024. Evan G. Greenberg, Chairman and CEO of Chubb, praised the company's annual results, noting them as the best in the company's history despite initial challenges from Californian wildfires. For Q4 2025, Chubb reported P&C underwriting income of $2.20 billion, a 39.6% increase year-over-year, with a record-low combined ratio of 81.2%. P&C net premiums rose 7.7% to $11.31 billion, while the Life Insurance segment registered Q4 net premium growth of 16.9% to $1.83 billion, and segment income increased by 19.3% to $322 million. The company highlighted a reduction in Q4 pre-tax catastrophe losses from $607 million in 2024 to $365 million in 2025. Favorable prior period development improved to $268 million, compared to $213 million in the previous year, underscoring Chubb's strategic risk management and underwriting excellence.