Chubb
CB NYSE Property & Casualty Insurance Financials FY2016–FY2025
Chubb's revenue rose 6.5% to $59.4 billion in fiscal 2025. Its net margin was 17.4%, up from 16.6% a year earlier. It paid out $5.2 billion in dividends and buybacks. The diluted share count fell 1.7%.
About these figures. Chubb's cash flow statement doesn't show its spending on property and equipment as a line of its own, so capital spending and free cash flow are left blank.
What Chubb does
Chubb is a Swiss-incorporated holding company, based in Zurich, for a global group of insurance and reinsurance businesses. It sells property and casualty insurance (called P&C), accident and health insurance, and life insurance to businesses, individuals and other insurers. For most lines it works through insurance brokers and agents and pays them a commission.
It earns money from three sources: underwriting income from P&C policies, investment income, and income from its life business. Chubb runs six segments. In 2025 total net premiums earned, the share of premiums counted as earned in the year, was $53.0 billion. North America Commercial P&C Insurance was the biggest, at 38 percent of that total. Overseas General Insurance was 27 percent. The others are North America Personal P&C, North America Agricultural, Global Reinsurance and Life Insurance.
The personal insurance segment serves high-net-worth individuals and families with homeowners, collector car, fine art and travel cover. Chubb owns a majority stake of approximately 87.2 percent in Huatai Group. At the end of 2025 its total assets were $272 billion.
- Legal name
- CHUBB LIMITED
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 27, 2026
- Accession · CIK
- 0000896159-26-000005
0000896159
Revenue and margins
Chubb had $59.4B of revenue in fiscal 2025, up 6.5% on the year before.
Net income and earnings per share
From fiscal 2016 to 2025, diluted EPS grew 12.5% a year. Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
Chubb returned $5.2B to shareholders in fiscal 2025. The diluted share count fell 1.7%.
Value Chubb yourself
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
Discounted cash flow
Value per share
—
Adds net cash of −$9.9B and divides by 401.5M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Earnings multiple
Value per share
—
Reference multiples: today 12.6x · peers 9.7x · sector 13.7x.
Balance sheet
Cash, debt and the ratios that show how comfortably Chubb can carry it.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $4.8B | $7.0B | $7.2B | $7.7B | $7.3B |
| Debt incl. finance leases | $16.2B | $14.9B | $14.5B | $15.2B | $17.2B |
| Debt / equity | 0.3x | 0.3x | 0.2x | 0.2x | 0.2x |
| Interest coverage | 20.9x | 12.4x | 15.2x | 16.5x | 18.1x |
| Total assets | $200.1B | $199.0B | $230.7B | $246.5B | $272.3B |
| Total liabilities | $140.3B | $148.5B | $167.0B | $178.2B | $192.5B |
| Shareholders' equity | $58.3B | $50.5B | $59.5B | $64.0B | $73.8B |
| Net debt (− = net cash) | $11.4B | $7.9B | $7.3B | $7.5B | $9.9B |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$24.5M
9 insiders
Of sales under plans
0%
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 21, 2026 | Michael P ConnorsDirector | Sold | 5,500 | $345.00 | $1.9M | Form 4 |
| Jul 28, 2026 | Joseph F WaylandExecutive Vice President and* | Sold | 8,502 | $364.54 | $3.1M | Form 4 |
| Jun 8, 2026 | Juan Luis OrtegaExecutive Vice President* | Sold | 3,886 | $322.08 | $1.3M | Form 4 |
| May 27, 2026 | John W KeoghPresident &COO | Sold | 23,000 | $321.51 | $7.4M | Form 4 |
| May 21, 2026 | Michael G AtiehDirector | Sold | 578 | $329.53 | $0.2M | Form 4 |
| Mar 19, 2026 | Olivier SteimerDirector | Sold | 2,000 | $329.30 | $0.7M | Form 4 |
| Mar 6, 2026 | George F. OhsiekChief Accounting Officer | Sold | 770 | $325.21 | $0.3M | Form 4 |
| Mar 4, 2026 | Bryce L. JohnsSenior Vice President,* | Sold | 1,500 | $336.62 | $0.5M | Form 4 |
| Mar 3, 2026 | Joseph F WaylandExecutive Vice President and* | Sold | 7,645 | $336.44 | $2.6M | Form 4 |
| Feb 13, 2026 | George F. OhsiekChief Accounting Officer | Sold | 3,900 | $324.30 | $1.3M | Form 4 |
| Feb 12, 2026 | Evan G GreenbergChairman & CEO | Sold | 14,925 | $335.09 | $5.0M | Form 4 |
| Feb 12, 2026 | George F. OhsiekChief Accounting Officer | Sold | 1,240 | $328.97 | $0.4M | Form 4 |
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ |
| Return on assets rose | ✓ | ✕ | ✓ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ |
| Debt fell relative to assets | ✓ | ✓ | ✕ |
| Current ratio rose | — | — | — |
| Share count didn't rise | ✓ | ✓ | ✓ |
| Gross margin rose | — | — | — |
| Revenue rose relative to assets | ✓ | ✕ | ✕ |
| F-score | — / 9 | — / 9 | — / 9 |
| Accruals ratio | −1.7% | −2.9% | −1.0% |
| Altman Z'' | — | — | — |
Similar companies
Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| Chubb CB | $140.1B | 6.5% | — | — | 13.6% | 12.6x | — | |
| Allstate ALL | $65.6B | 5.6% | — | 14.6% | 37.3% | 5.1x | — | Compare → |
| Travelers Companies TRV | $83.9B | 5.2% | — | — | 20.1% | 10.5x | — | Compare → |
| Progressive PGR | $133.2B | 16.3% | — | 19.6% | 39.2% | 11.4x | — | Compare → |
| Hartford HIG | $37.8B | 6.9% | — | 20.3% | 22.6% | 8.8x | — | Compare → |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $31.5B | $32.2B | $32.7B | $34.2B | $36.0B | $40.9B | $43.1B | $49.7B | $55.8B | $59.4B |
| Interest expense | $605M | $607M | $641M | $552M | $516M | $492M | $570M | $672M | $741M | $764M |
| Pretax income | $5.0B | $3.7B | $4.7B | $5.2B | $4.2B | $9.8B | $6.5B | $9.5B | $11.5B | $13.0B |
| Income tax | $815M | −$139M | $695M | $795M | $629M | $1.3B | $1.2B | $511M | $1.8B | $2.4B |
| Net income | $4.1B | $3.9B | $4.0B | $4.5B | $3.5B | $8.5B | $5.2B | $9.0B | $9.3B | $10.3B |
| Diluted EPS | $8.87 | $8.19 | $8.49 | $9.71 | $7.79 | $19.24 | $12.39 | $21.80 | $22.70 | $25.68 |
| Diluted shares | 0.47B | 0.47B | 0.47B | 0.46B | 0.45B | 0.44B | 0.42B | 0.41B | 0.41B | 0.40B |
| Cash flow | ||||||||||
| Cash from operations | $5.3B | $4.5B | $5.5B | $6.3B | $9.8B | $11.2B | $11.3B | $12.6B | $16.2B | $12.8B |
| Acquisitions | $14.2B | $0.0M | $0.0M | $29.0M | $0.0M | $1.2B | $5.2B | $34.0M | $538M | $289M |
| Share buybacks | $0.0M | $801M | $1.0B | $1.5B | $523M | $4.9B | $2.9B | $2.4B | $1.8B | $3.7B |
| Dividends paid | $1.2B | $1.3B | $1.3B | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B | $1.5B |
| Dividends and buybacks | $1.2B | $2.1B | $2.4B | $2.9B | $1.9B | $6.3B | $4.3B | $3.8B | $3.2B | $5.2B |
| Balance sheet | ||||||||||
| Cash and short-term investments | $4.0B | $4.3B | $4.3B | $5.8B | $6.1B | $4.8B | $7.0B | $7.2B | $7.7B | $7.3B |
| Total debt | $13.1B | $12.6B | $12.6B | $14.9B | $14.9B | $16.2B | $14.9B | $14.5B | $15.2B | $17.2B |
| Finance lease liabilities | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Inventory | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Property and equipment, net | $1.2B | $1.3B | $1.7B | $1.9B | $2.0B | $2.0B | $2.4B | $2.9B | $3.1B | $3.5B |
| Total assets | $159.8B | $167.0B | $167.8B | $176.9B | $190.8B | $200.1B | $199.0B | $230.7B | $246.5B | $272.3B |
| Total liabilities | $111.5B | $115.9B | $117.5B | $121.6B | $131.3B | $140.3B | $148.5B | $167.0B | $178.2B | $192.5B |
| Shareholders' equity | $48.3B | $51.2B | $50.3B | $55.3B | $59.4B | $58.3B | $50.5B | $59.5B | $64.0B | $73.8B |
| Margins | ||||||||||
| Net margin | 13.1% | 12.0% | 12.1% | 13.0% | 9.8% | 20.9% | 12.2% | 18.2% | 16.6% | 17.4% |
| Returns | ||||||||||
| Return on capital | 11.1% | 7.4% | 7.6% | 8.0% | 6.0% | 13.0% | 8.9% | 14.9% | 14.0% | 13.6% |
| Return on equity | 10.7% | 7.8% | 7.8% | 8.4% | 6.2% | 14.5% | 9.6% | 16.4% | 15.0% | 15.0% |
| Return on assets | 3.2% | 2.4% | 2.4% | 2.6% | 1.9% | 4.4% | 2.6% | 4.2% | 3.9% | 4.0% |
| Growth | ||||||||||
| Revenue growth | 65.7% | 2.5% | 1.5% | 4.5% | 5.3% | 13.5% | 5.5% | 15.4% | 12.1% | 6.5% |
| Net income growth | 45.9% | −6.6% | 2.6% | 12.4% | −20.7% | 141.3% | −38.5% | 72.1% | 2.7% | 11.2% |
| EPS growth | 2.9% | −7.7% | 3.7% | 14.4% | −19.8% | 147.0% | −35.6% | 76.0% | 4.1% | 13.1% |
| Share count change | 41.7% | 1.1% | −0.9% | −1.7% | −1.2% | −2.3% | −4.4% | −2.2% | −1.4% | −1.7% |
| Financial health | ||||||||||
| Debt / equity | 0.3x | 0.3x | 0.3x | 0.3x | 0.3x | 0.3x | 0.3x | 0.2x | 0.2x | 0.2x |
| Interest coverage | 9.2x | 7.1x | 8.3x | 10.5x | 9.1x | 20.9x | 12.4x | 15.2x | 16.5x | 18.1x |
| Quality scores | ||||||||||
| Accruals ratio | −0.9% | −0.4% | −0.9% | −1.1% | −3.4% | −1.3% | −3.0% | −1.7% | −2.9% | −1.0% |
Source: SEC EDGAR XBRL filings (CIK 0000896159). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.