Exhibit 99.1

 

LOGO   

Chubb Limited

Bärengasse 32

CH-8001 Zurich

Switzerland

  

www.chubb.com

@Chubb

News Release

Chubb Reports Second Quarter Per Share Net Income and Core

Operating Income of $2.50 and $2.60, Respectively; Consolidated Net

Premiums Written of $8.3 Billion, Up 4.1%, or 5.9% in Constant

Dollars

 

   

Net income and core operating income were both $1.2 billion.

 

   

Net income per share was $2.50 compared with $2.76 prior year. Core operating income per share was $2.60 compared with $2.68 prior year, including catastrophe losses per share of $0.48 versus $0.37 prior year.

 

   

P&C net premiums written were $7.8 billion, up 4.2%, or 6.0% in constant dollars.

 

   

P&C combined ratio was 90.1% compared with 88.4% prior year. P&C current accident year combined ratio excluding catastrophe losses was 88.9% compared with 88.1% prior year.

 

   

Pre-tax catastrophe losses were $275 million compared with $211 million prior year.

 

   

Net investment income was $859 million pre-tax and adjusted net investment income was $902 million pre-tax.

 

   

Annualized ROE and core operating ROE were 8.7% and 9.3%, respectively. Annualized core operating return on tangible equity was 15.2%.

 

   

Book and tangible book value per share were up 3.2% and 4.7%, respectively, from prior quarter, and up 7.7% and 11.9%, respectively, from December 31, 2018.

ZURICHJuly 23, 2019 – Chubb Limited (NYSE: CB) today reported net income for the quarter ended June 30, 2019 of $1,150 million, or $2.50 per share, compared with $1,294 million, or $2.76 per share, for the same quarter last year. Core operating income was $1,195 million, or $2.60 per share, compared with $1,253 million, or $2.68 per share, for the same quarter last year. The property and casualty (P&C) combined ratio was 90.1%. Book and tangible book value per share increased 3.2% and 4.7%, respectively, from March 31, 2019 and now stand at $117.97 and $73.74, respectively. Book and tangible book value per share were favorably impacted by net realized and unrealized gains of $1.1 billion 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, July 23, 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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