Summary by Moomoo AI
Chubb Limited reported robust Q3 2024 results, with net income of $2.32B and core operating income of $2.33B, up 13.8% and 14.3% respectively. Earnings per share rose 15.6% to $5.72. Global P&C net premiums written grew 8.5% in constant dollars, with commercial up 8.1% and consumer up 9.4%.P&C underwriting income increased 11.7% to $1.46B, yielding a combined ratio of 87.7%. The current accident year combined ratio, excluding catastrophes, was an impressive 83.4%. Pre-tax net investment income reached a record $1.51B, up 14.7%. Life Insurance net premiums written grew 10.6% in constant dollars to $1.55B.Book value per share increased 8.0% from Q2, while tangible book value per share rose 12.8%. The annualized core operating return on equity was 13.9%. Chubb's strong performance was driven by double-digit growth in both P&C underwriting and investment income, positioning the company for a record earnings year.
