The following is a summary of the Chubb Limited (CB) Q1 2024 Earnings Call Transcript:
Financial Performance:
Chubb reported a Q1 2024 core operating income increase of over 20% to $2.2 billion, with EPS increasing nearly 23% to $5.41.
P&C underwriting income up by over 15% due to strong premium growth and solid underwriting margins, combined ratio of 86%.
Increased investment income, up by over 23%, net investment income of nearly $1.5 billion.
Life insurance income rose by almost 10% and achieved an ROE of 13.7% with a return on tangible equity of nearly 22%.
Business Progress:
Consolidated net premiums rose over 14% globally, net premiums for Global P&C (excluding agriculture) increased by 13.3%.
Substantial growth of over 39% in life insurance and deposits, driven by Asian business.
Strong international operations growth with premiums increasing by 17.5% in constant dollars.
Continued delivery of strong financial results due to robust underwriting discipline and proactive risk management.
Company remains vigilant in maintaining underwriting discipline, ready to pull back from markets where risk exposure isn't adequately priced, and continues to enhance services for customers.
Possible M&A activities as Chubb possesses excess capital for both risk and opportunities.
Investments in data and analytics capabilities continue to enhance pricing, risk selection, and loss trend forecasting abilities.
More details: Chubb Ltd IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.