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 of $3.41, up 63.9%, and Operating Income Per Share of $2.72, up 14.3%; Full-Year Net Income Per Share Was $8.87, up 2.9%, and Operating Income Per Share Was $10.12, up 3.7% and a Record

 

    Full-year net income was $4.1 billion and operating income was $4.7 billion.

 

    Net income and operating income in the quarter included a one-time benefit of $113 million pre-tax ($73 million after-tax, or $0.16 per share) related to the harmonization of the company’s U.S. pension plans as discussed further in this release. This item is excluded from the combined ratios.

 

    The P&C combined ratio was 87.8% for the quarter, or, on an “As If”* basis, 87.6% compared with 87.3% in 2015. The P&C combined ratio was 88.7% for the year, or, on an “As If” basis, 88.0% compared with 87.5% in 2015.

 

    Consolidated net premiums written were $6.9 billion for the quarter and $28.1 billion for the year, up 67.4% and 58.9%, respectively. P&C net premiums written were $6.4 billion for the quarter and $26.0 billion for the year, up 76.1% and 65.6%, respectively. On an “As If”* and constant-dollar basis, P&C net premiums written were down 3.5% for the quarter and 3.3% for the year. On the same basis, excluding merger-related underwriting actions(1), P&C net premiums written were down 0.4% for the quarter and 1.0% for the year.

 

    The annualized ROE was 13.3% for the quarter and 9.0% for the year; the operating ROE was 11.0% for the quarter and 10.5% for the year.

 

    Adjusted net investment income was $845 million for the quarter and $3.3 billion for the year.

 

    For the quarter, book value per share decreased 0.3% and tangible book value per share increased 0.6%. For the year, book value per share increased 15.4% and tangible book value per share decreased 16.1%.

 

(1)  Merger-related underwriting actions include the purchase of additional reinsurance.
* 2016 “As If” results include the combined company’s results for the first 14 days of January and exclude any impact from purchase accounting adjustments related to the acquisition. 2015 “As If” results include Legacy ACE plus Legacy Chubb historical results. ACE Limited acquired The Chubb Corporation (Chubb Corp) on January 14, 2016.

 

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


The following information was filed by Chubb Ltd (CB) on Tuesday, January 31, 2017 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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