Exhibit 99.1

 

LOGO   

Chubb Limited

Bärengasse 32

CH-8001 Zurich

Switzerland

  

www.chubb.com

@Chubb

News Release

Chubb Reports First Quarter Net Income Per Share of $2.25 and Core

Operating Income Per Share of $2.54, Up 8.5%; Consolidated Net

Premiums Written of $7.3 Billion, Up 2.9%, or 5.1% in Constant

Dollars; P&C Combined Ratio of 89.2%

 

   

Net income was $1.0 billion. Core operating income was $1.2 billion, up 6.7%. On a constant-dollar basis, core operating income was up 9.0%, or 10.9% on a per share basis.

 

   

P&C underwriting income was $712 million, up 10.9%, or 14.5% in constant dollars, and Global P&C underwriting income was $639 million, up 18.4%, or 23.0% in constant dollars.

 

   

P&C net premiums written were $6.7 billion, up 2.9%, or 5.1% in constant dollars.

 

   

P&C combined ratio was 89.2% compared with 90.1% prior year. P&C current accident year combined ratio excluding catastrophe losses was 88.5% compared with 87.6% prior year.

 

   

Pre-tax catastrophe losses were $250 million, or $201 million after-tax, in the quarter, compared with $380 million, or $303 million after-tax, prior year.

 

   

Net investment income was $836 million pre-tax, and adjusted net investment income was $882 million pre-tax, in line with previous guidance.

 

   

Annualized ROE and core operating ROE were 8.1% and 9.2%, respectively. Annualized core operating return on tangible equity was 15.1%.

 

   

Book and tangible book value per share were up 4.3% and 6.9%, respectively, in the quarter.

ZURICH – April 30, 2019

– Chubb Limited (NYSE: CB) today reported net income for the quarter ended March 31, 2019 of $1,040 million, or $2.25 per share, compared with $1,082 million, or $2.30 per share, for the same quarter last year. Core operating income was $1,170 million, or $2.54 per share, compared with $1,097 million, or $2.34 per share, for the same quarter last year. The property and casualty (P&C) combined ratio was 89.2%. Book and tangible book value per share increased 4.3% and 6.9%, respectively, from December 31, 2018 and now stand at $114.27 and $70.46, respectively. Book and tangible book value per share were favorably impacted by net realized and unrealized gains of $1,402 million after-tax in the company’s investment portfolio, principally driven by a decline in interest rates.

 

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


The following information was filed by Chubb Ltd (CB) on Tuesday, April 30, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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