Third quarter 2026 net income at insurer Chubb was up 1.5% compared to the same period in 2025 to about $2.84 billion, with property/casualty underwriting income down 8.8% to about $2.06 billion.
Pretax net catastrophe losses were $705 million compared with $285 million for Q3 a year ago.
The P/C business posted a combined ratio for Q3 of 84.1 compared with 81.8 the year prior.
Consolidated net premiums written (NPW) increased 1.9% to about $15.1 billion. P/C net premiums were also up 1.9% to about $13.2 billion. In North America, NPW was about flat at $8.95 billion.
“While the market continues to grow more competitive in commercial P/C across the board, particularly in the U.S. and London, the substantial majority of our underwriting businesses grew in the quarter, with the balance flat or purposely shrinking due to inadequate pricing or terms,” said Evan G. Greenberg, chairman and CEO, in a statement.
NPW in North America Commercial P/C was down 2.7% but Chubb said it would be up 1.7% excluding large account and E&S property. The combined ratio for this business in Q3 worsened to 86.3 compared to 81.5 last year.
Greenberg said commercial lines were “impacted by a reduction in exposure, including increased use of reinsurance and underwriting related non-renewal actions, predominantly property and financial lines related.”
For personal lines in North America, the combined ratio improved to 60.3 from 65.1. Results include 4.3- point impact from higher favorable prior year development.
Topics Trends Catastrophe Profit Loss Chubb
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