Chubb Limited (CB) Stock

Chubb Limited (CB) is a Financials stock trading at $339.39 (as of 2026-09-02), with a market capitalization of $131.64B and a trailing P/E of 11.7. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses. Its North America Personal P&C Insurance segment provides affluent and high net worth individuals and families with homeowners, automobile and collector cars, valuable articles, personal and excess liability, travel insurance, and recreational marine insurance and services. The company's North America Agricultural Insurance segment offers multiple peril crop and crop-hail insurance; and coverage for farm and ranch property, and commercial agriculture products. Its Overseas General Insurance segment provides coverage for traditional commercial property and casualty; specialty categories, such as financial lines, marine, energy, aviation, political risk, and construction risk; and group accident and health, and traditional and specialty personal lines for corporations, middle markets, and small customers through retail brokers, agents, and other channels. The company's Global Reinsurance segment offers traditional and specialty reinsurance under the Chubb Tempest Re brand to property and casualty companies. Its Life Insurance segment provides protection and savings products comprising whole life, endowment plans, individual term life, group term life, medical and health, personal accident, credit life, universal life, and unit linked contracts. The company markets its products primarily through insurance and reinsurance brokers. The company was formerly known as ACE Limited and changed its name to Chubb Limited in January 2016. Chubb Limited was incorporated in 1985 and is headquartered in Zurich, Switzerland.

Understand Chubb Limited: how it makes money

Chubb sells property, casualty, and life insurance to commercial businesses and affluent individuals worldwide, earning revenue from premiums and investment income. Most of the profit engine is the P&C book, where Chubb's upscale, risk-selective underwriting keeps loss ratios below mass-market peers.

Every dollar of P&C premium collected, Chubb pockets roughly 16 cents as underwriting profit (84% combined ratio) and then earns investment returns on the multi-billon premium float it holds until claims settle.

Business quality (Solid): Solid. 20% operating margin on $14.8B quarterly revenue with a 14% ROE and an 84% PNC combined ratio indicate a disciplined, profitable insurer trading at a 9% discount to the sector average P/E.

Valuation: At 12× earnings, CB trades 9% below the Insurance average (13×).

Bull case

  • Broad-based premium acceleration: Total net premiums grew 10.7% in the quarter, with life premiums up more than 33%, showing growth is not confined to one product line. This breadth supports the investment case even if a single line softens.
  • Underwriting margin stays rich: The 84% PNC combined ratio means Chubb earns a 16-point underwriting profit before investment income, well below the 100% break-even. That margin cushion is the core reason the equity stays profitable through moderate loss years.
  • Trades at a sector discount: At 11.9x trailing earnings versus the insurance industry average of 13.1x, Chubb sits roughly 9% below peers on a P/E basis. If the market re-rates the name toward parity, the multiple alone adds low-single-digit upside independent of earnings growth.

Bear case

  • Property rates are cracking: Market pricing in shared and layered property declined 25% and is approaching 30%, forcing Chubb to shrink business written at inadequate rates. If the repricing persists, premium growth in the commercial property book slows and the combined ratio drifts higher.
  • Life growth is likely one-time: Management explicitly does not expect the recent surge in single-premium life business (above 33% growth) to continue. Stripping out that tailwind, the underlying growth rate is closer to the low-teens premium figure, which compresses the earnings surprise.
  • Geopolitical inflation feeds claim costs: Ongoing geopolitical conflict can push up shipping, commodity, and repair costs through supply-chain disruption, raising the severity of property and casualty claims even if frequency stays flat. This is a tail risk that hits the combined ratio directly.
Valuation — source: SEC EDGAR (first-party)
Price$339.39
Market Cap$131.64B
P/E Ratio11.7
EV / EBITDA10.2
Price / Book1.65
Price / Sales2.16
DCF Value (model)$524.08
DCF Upside vs Price54.4%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$59.40B
Net Margin17.4%
Revenue Growth (YoY)10.6%
EPS Growth (YoY)78.9%
Valuation vs Sector & Industry
Stock P/E11.7
Sector P/E (Financials)14.9
Industry P/E (Insurance)12.1
vs Sector-21.9%
vs Industry-4.1%
Company
SectorFinancials
IndustryInsurance
CEOEvan G. Greenberg
Employees43,000
CountryCH
IPO Date1993-03-25

Chubb Limited earnings call transcripts

  • CB Q1 FY26 earnings call transcript (reported 2026-04-21) · analysis
  • CB Q4 FY25 earnings call transcript (reported 2026-02-03) · analysis
  • CB Q3 FY25 earnings call transcript (reported 2025-10-21) · analysis
  • CB Q2 FY25 earnings call transcript (reported 2025-07-22) · analysis

All CB earnings calls

Related Companies (Insurance; 8 comparable insurers)

  • The Travelers Companies, Inc. (TRV)
  • The Progressive Corporation (PGR)
  • The Allstate Corporation (ALL)
  • CNA Financial Corporation (CNA)
  • Cincinnati Financial Corporation (CINF)
  • The Hartford Financial Services Group, Inc. (HIG)
  • American International Group, Inc. (AIG)
  • Markel Corporation (MKL)
CB earnings history · CB institutional & insider holders · CB KPIs & operating metrics · CB financials · CB investor presentations & press releases · CB SEC filings · CB peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-09-02.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.