Chubb’s fourth quarter results drew a notably positive market reaction, reflecting strong execution across its global insurance portfolio and decisive outperformance versus Wall Street expectations. Management credited robust growth in both property and casualty (P&C) and life segments, coupled with record investment income, as primary drivers of the quarter’s performance. CEO Evan Greenberg highlighted that “very strong double-digit increases in underwriting and life income along with record investment income led to core operating income of nearly $3 billion.” Notably, the company’s P&C business benefited from low catastrophe losses and favorable reserve development, while its agriculture division delivered standout results. The quarter also saw meaningful margin expansion, with operating margin rising on the back of disciplined underwriting and a diversified business mix.
Is now the time to buy CB? Find out in our full research report (it’s free for active Edge members).
Chubb (CB) Q4 CY2025 Highlights:
- Revenue: $15.34 billion vs analyst estimates of $15.23 billion (7.4% year-on-year growth, 0.8% beat)
- Adjusted EPS: $7.52 vs analyst estimates of $6.78 (11% beat)
- Adjusted Operating Income: $3.77 billion vs analyst estimates of $3.63 billion (24.6% margin, 4% beat)
- Operating Margin: 24.6%, up from 21.3% in the same quarter last year
- Market Capitalization: $127.6 billion
While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.
Our Top 5 Analyst Questions From Chubb’s Q4 Earnings Call
- Brian Meredith (UBS) pressed management on the sustainability of North American commercial lines margins given the current pricing environment. CEO Evan Greenberg refrained from giving specific forward guidance but reaffirmed comfort in the company’s published combined ratios and confidence in underwriting income growth.
- Jian Huang (Morgan Stanley) inquired about the growth outlook in Latin America outside Mexico. Greenberg detailed Chubb’s broad-based consumer insurance partnerships across several countries, highlighting digital distribution and agency channels as key drivers.
- David Motemaden (Evercore ISI) asked how sustained consumer lines growth in overseas markets affects overall margins. Greenberg acknowledged the diversity of business lines and channels, noting that margins are “reasonably steady” but not broken out by segment.
- Charles Peters (Raymond James) questioned Chubb’s exposure to foreign exchange volatility and the impact on global operations. Greenberg explained assets and liabilities are matched by currency, with FX movements affecting reported growth but not core business strength.
- Matthew Heimermann (Citi Research) sought more detail on the pace and constraints of digital transformation. Greenberg noted progress on nine core projects, stating that distribution partners’ priorities can sometimes limit the speed of digital initiatives, particularly in digital channels.
Catalysts in Upcoming Quarters
Looking forward, the StockStory team will be watching (1) evidence that digital transformation projects are improving expense ratios and claims management, (2) continued premium growth and margin stability in key international markets such as Asia and Latin America, and (3) how Chubb navigates evolving regulatory and affordability challenges in U.S. personal lines. Execution on technology investments and the ability to sustain growth in a competitive global landscape will also be important markers.
Chubb currently trades at $327.40, up from $313.38 just before the earnings. Is there an opportunity in the stock?The answer lies in our full research report (it’s free).
High-Quality Stocks for All Market Conditions
If your portfolio success hinges on just 4 stocks, your wealth is built on fragile ground. You have a small window to secure high-quality assets before the market widens and these prices disappear.
Don’t wait for the next volatility shock. Check out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 244% over the last five years (as of June 30, 2025).
Stocks that have made our list include now familiar names such as Nvidia (+1,326% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today.
