Exhibit 99.1

 

LOGO

  

Chubb Limited

Bärengasse 32

CH-8001 Zurich

Switzerland

  

www.chubb.com

@Chubb

News Release

Chubb Reports Fourth Quarter Net Income Per Share and Core

Operating Income Per Share of $0.76 and $2.02, Respectively,

Including Catastrophe Losses of $1.09 Per Share; Full-Year Net

Income Per Share was $8.49, up 3.7%, and Core Operating Income

Per Share was $9.44, up 17.6%

 

   

Fourth quarter net income was $355 million. Core operating income was $935 million compared with $1.5 billion prior year, which included a tax benefit of $450 million.

 

   

After-tax catastrophe losses in the quarter were $506 million, as previously announced, compared with $331 million prior year.

 

   

Fourth quarter consolidated and P&C net premiums written were $7.4 billion and $6.8 billion, respectively, both up 4.2%, or up 5.9% and 5.8%, respectively, in constant dollars.

 

   

Fourth quarter P&C combined ratio was 93.1% compared with 90.7% prior year. The P&C current accident year combined ratio excluding catastrophe losses was 88.3% compared with 86.4% prior year.

 

   

For the quarter, net investment income was a record $848 million pre-tax, up 6.4%, and adjusted net investment income was a record $903 million pre-tax, up 3.4%.

 

   

Full-year net income was $4.0 billion, up 2.6%, and core operating income was $4.4 billion, up 16.5%.

 

   

Full-year consolidated net premiums written were $30.6 billion, up 4.6%, or 4.1% in constant dollars; full-year P&C net premiums written were $28.3 billion, up 4.4%, or 4.0% in constant dollars.

 

   

Full-year P&C combined ratio was 90.6% compared with 94.7% prior year. The P&C current accident year combined ratio excluding catastrophe losses was 88.0% compared with 87.6% prior year.

 

   

Annualized ROE and core operating ROE were 7.8% and 8.7%, respectively, for the year.

 

   

For the year, net investment income was $3.3 billion pre-tax, up 5.8%, and adjusted net investment income was $3.6 billion pre-tax, up 2.8%, both records.

 

   

Book value per share decreased 0.7% and tangible book value per share remained unchanged for the year. Excluding the mark-to-market impact on the investment portfolio, primarily as a result of rising interest rates, book and tangible book value per share increased 2.7% and 5.8%, respectively, for the year.

 

Chubb®, Chubb logo® and Chubb. Insured.SM are trademarks of Chubb.   1


The following information was filed by Chubb Ltd (CB) on Tuesday, February 5, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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