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Quarterly numbers contribute to record nine months
Chubb Limited’s performance in the third quarter of 2023 has formed part of a record nine months.
According to the insurer, here’s how it fared in the period ended September 30:
|
Metric
|
Q3 2023
|
Q3 2022
|
9M 2023
|
9M 2022
|
|---|---|---|---|---|
|
Net income
|
$2.04 billion
|
$792 million
|
$5.73 billion
|
$3.94 billion
|
|
Cigna integration expenses and other, net of tax
|
$12 million
|
$17 million
|
$42 million
|
$33 million
|
|
Core operating income, net of tax
|
$2.04 billion
|
$1.31 billion
|
$5.93 billion (a record)
|
$4.76 billion
|
The company’s net premiums written in Q3 grew 9.1%. Of this consolidated result, property & casualty, global P&C (excludes agriculture), and life insurance all posted growth. Underwriting income for both P&C and global P&C increased as well, as did the segment income for life insurance.
“We had another outstanding quarter which contributed to a record nine months,” Chubb chair and chief executive Evan G. Greenberg said in a release.
“Our performance in the quarter included double-digit global P&C premium revenue growth, world-class P&C underwriting results, record net investment income, and strong life operating income. Over $2 billion of core operating income led to per-share earnings growth of 58.1% for the quarter and 27.5% for the year.”
The CEO added that his camp is confident in Chubb’s ability to continue growing revenue and operating earnings.
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