NYSE$CB
Chubb Corp · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Chubb's Q3 2022 performance was marked by growth in core operating income and premiums, offset by catastrophe losses and investment losses.
Chubb Limited reported a decrease in net income but an increase in core operating income for the third quarter of 2022. The company's P&C business saw premium growth, but results were impacted by significant catastrophe losses, particularly from Hurricane Ian. The acquisition of Cigna’s Asia business drove substantial growth in the Life Insurance segment.
- Net income decreased to $812 million, or $1.94 per share, compared to $1.83 billion, or $4.18 per share, in the prior year.
- Core operating income increased by 15.1% to $1.33 billion, or $3.17 per share, up 20.1% compared to the prior year.
- Consolidated net premiums written increased by 14.4%, or 17.3% in constant dollars, with P&C up 11.2%.
- The P&C combined ratio was 93.1%, including catastrophe losses of $1.2 billion, with $975 million from Hurricane Ian.
Headline financials
Revenue & EPS history
Chubb · Revenue · Quarterly
$12.1B
Revenue by segment
Chubb · $3.92B total across 2 segments · Q3 2022
- Overseas General$2.65B—67.5%
- Life Insurance$1.27B—32.5%
Forward guidance
Chubb anticipates continued EPS growth, driven by P&C business growth and underwriting margins, increased investment income, and contributions from life insurance businesses in Asia.
Tailwinds
- Capitalizing on rising interest rates with an average reinvestment rate of 5.8%.
- Adjusted net investment income reached a record $1.1 billion, up over 12%.
- Commercial P&C pricing remained strong and exceeded loss costs.
- Focus on managing inflation through pricing and reserving strategies.
- Expectations for continued healthy EPS growth.
Headwinds
- Operating in a challenging economic and geopolitical environment.
- Strength of the dollar impacted published growth.
- Book value per share and tangible book value per share decreased from June 30, 2022.
- After-tax foreign currency movement further reduced book value and tangible book value.
- Net income in the quarter was adversely impacted by realized losses of $502 million after tax.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2022
+0.4%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+2.2%
Avg return
30 days after
55%
40 / 73 earnings
Positive
+7.9%
Q4 2019
Best reaction
-7.3%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.7% | -1.4% | -0.4% | |
| Q4 2025 | +5.1% | +4.1% | +4.7% | |
| Q3 2025 | +2.7% | +4.6% | +10.8% | |
| Q2 2025 | +1.0% | +0.5% | +2.7% | |
| Q1 2025 | -2.2% | -2.8% | -1.5% | |
| Q4 2024 | +1.3% | +0.6% | +4.9% | |
| Q3 2024 | -2.2% | -4.3% | +0.1% | |
| Q2 2024 | -0.8% | +3.1% | +4.1% | |
| Q1 2024 | -3.4% | -2.4% | +4.6% | |
| Q4 2023 | +0.9% | +1.6% | +3.7% | |
| Q3 2023 | +4.4% | +1.0% | +9.8% | |
| Q2 2023 | +2.7% | +2.7% | +0.3% | |
| Q1 2023 | -1.1% | +0.5% | -5.0% | |
| Q4 2022 | -5.6% | -7.2% | -7.8% | |
| Q3 2022 | +0.4% | +5.5% | +5.3% | |
| Q2 2022 | -0.1% | +0.8% | +5.5% | |
| Q1 2022 | +1.6% | -0.4% | +0.2% | |
| Q4 2021 | +5.2% | +4.7% | +4.4% | |
| Q3 2021 | +1.2% | +3.9% | +1.2% | |
| Q2 2021 | -1.3% | +0.4% | +9.6% | |
| Q1 2021 | -1.2% | +3.3% | +2.0% | |
| Q4 2020 | +4.9% | +9.8% | +12.1% | |
| Q3 2020 | +1.1% | +3.1% | +21.1% | |
| Q2 2020 | -0.3% | -3.9% | -3.5% | |
| Q1 2020 | -7.3% | -9.3% | -1.4% | |
| Q4 2019 | +7.9% | +6.2% | -5.4% | |
| Q3 2019 | +3.5% | +1.5% | +2.6% | |
| Q2 2019 | +2.6% | +3.5% | +5.0% | |
| Q1 2019 | +0.4% | +1.0% | +1.5% | |
| Q4 2018 | -3.0% | -2.7% | -0.9% | |
| Q3 2018 | -1.7% | -2.9% | +4.1% | |
| Q2 2018 | +1.3% | +2.9% | -0.5% | |
| Q1 2018 | -0.7% | -0.7% | -3.5% | |
| Q4 2017 | +1.3% | -0.6% | -9.3% | |
| Q3 2017 | -0.9% | -2.2% | -3.4% | |
| Q2 2017 | -2.0% | -1.0% | -2.8% | |
| Q1 2017 | +1.6% | +0.3% | +4.4% | |
| Q4 2016 | -2.5% | -0.3% | +5.1% | |
| Q3 2016 | +3.9% | +4.3% | +3.6% | |
| Q2 2016 | -0.6% | -2.1% | -1.5% | |
| Q1 2016 | +3.6% | — | — | |
| Q4 2015 | +0.1% | — | — | |
| Q3 2015 | +3.7% | — | — | |
| Q2 2015 | -0.1% | — | — | |
| Q1 2015 | +0.6% | — | — | |
| Q4 2014 | -1.2% | — | — | |
| Q3 2014 | +1.0% | — | — | |
| Q2 2014 | -0.9% | — | — | |
| Q1 2014 | +0.1% | — | — | |
| Q4 2013 | -0.2% | — | — | |
| Q3 2013 | -0.2% | — | — | |
| Q2 2013 | +0.5% | — | — | |
| Q1 2013 | -0.7% | — | — | |
| Q4 2012 | +2.0% | — | — | |
| Q3 2012 | -0.5% | — | — | |
| Q2 2012 | +1.7% | — | — | |
| Q1 2012 | +1.4% | — | — | |
| Q4 2011 | -0.7% | — | — | |
| Q3 2011 | +0.3% | — | — | |
| Q2 2011 | -5.5% | — | — | |
| Q1 2011 | +0.8% | — | — | |
| Q4 2010 | +1.0% | — | — | |
| Q3 2010 | -2.7% | — | — | |
| Q2 2010 | +0.9% | — | — | |
| Q1 2010 | +1.8% | — | — | |
| Q1 2009 | +1.8% | — | — | |
| Q4 2007 | -0.7% | — | — | |
| Q4 2009 | -0.7% | — | — | |
| Q3 2008 | +2.0% | — | — | |
| Q3 2009 | +2.0% | — | — | |
| Q2 2008 | -1.3% | — | — | |
| Q4 2008 | -1.3% | — | — | |
| Q2 2009 | -1.3% | — | — |
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