Chubb earns from insurance premiums and from investing them until claims are paid. In the third quarter of 2026, profit per share rose while revenue barely moved, and Chubb turned away commercial business it judged priced too low.
If you insure a home or a car, you probably pay the premium first, and the insurer pays only if a covered loss happens later. Chubb makes that promise worldwide, to companies of every size, wealthy households and farmers, and through reinsurance (insurance for other insurers) and life cover. Because customers pay before claims arrive, Chubb holds a large pool of money meanwhile. It earns twice: when premiums exceed claims and costs, and again by investing that money.
Claims are settled over months, or over years for casualty cover, which pays for injuries or damage to others. The biggest cost is paying and handling claims, followed by the cost of winning policies. What remains depends on pricing each risk above its expected loss, on how heavy the year's disasters are, and on whether reserves (Chubb's estimates of what older claims will cost) prove adequate. At September 30, 2026, Chubb owed $91.8 billion on claims not yet paid. That money helps fund $172.5 billion of investments, mostly bonds, which are loans that pay interest, with $10.8 billion in other companies' shares. It also held $3 billion of cash and $5.3 billion of short-term investments.
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