Chubb Limited has reported its second-quarter financial results, showing an impressive increase in net income and core operating income. Net income for the quarter ended June 30, 2025, was $2.97 billion, up 33.1% from the same period last year. Core operating income was a record $2.48 billion, up 12.9%.
The company's consolidated net premiums written were $14.2 billion, marking a 6.3% increase, or 7.1% in constant dollars. P&C net premiums written were $12.39 billion, up 5.2%, or 5.8% in constant dollars. Global P&C net premiums written, excluding agriculture, grew by 5.8%, or 6.4% in constant dollars.
Chubb's P&C underwriting income was a record $1.63 billion, up 15.0%, with a combined ratio of 85.6%. P&C current accident year underwriting income excluding catastrophe losses was also a record at $2.01 billion, up 11.4% over the prior year, with a combined ratio of 82.3%.
Life insurance net premiums written were $1.80 billion, up 14.1%, or 17.3% in constant dollars. Segment income for life insurance was $305 million, up 10.4%, or 15.3% in constant dollars.
The company's annualized return on equity (ROE) was 17.6%, and its annualized core operating return on tangible equity (ROTE) was 21.0%. Book value per share and tangible book value per share increased by 6.1% and 8.0%, respectively, from March 31, 2025.
Evan G. Greenberg, Chairman and Chief Executive Officer of Chubb Limited, noted that the company had a great second quarter. He highlighted the record underwriting income, strong investment income, and double-digit growth in life income.
Chubb's operating highlights for the quarter included consolidated net premiums written increasing by 6.3%, P&C net premiums written increasing by 5.2%, and underwriting income increasing by 15.0%. The company's global P&C net premiums written, excluding agriculture, increased by 5.8%, and life insurance net premiums written increased by 14.1%.
Chubb also reported a total return of $1.06 billion to shareholders, comprising share repurchases of $676 million and dividends of $388 million.
The company's business segments also showed positive results. North America personal P&C insurance saw a notable improvement in its current accident year combined ratio, while overseas general insurance reported relatively flat results in its current accident year combined ratio, reflecting loss ratio improvement offset by changes in the mix of business to higher consumer lines.
Following these announcements, the company's shares moved 1.72%, and are now trading at a price of $278.73. For more information, read the company's full 8-K submission here.
