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Chubb Q2 net income falls 3.8% as catastrophe losses ease
Second quarter pretax net catastrophe losses were $475 million, down from $630 million in the year-ago quarter, while the combined ratio improved to 83.8.
Chubb reported second quarter 2026 net income of about $2.85 billion, down 3.8% from the same period in 2025, as the insurer said underwriting conditions remain soft in parts of the property market. Insurance Journal said property/casualty underwriting income rose 18.8% to about $1.9 billion during the quarter.
The insurer recorded pretax net catastrophe losses of $475 million in Q2 2026, compared with $630 million in Q2 2025, contributing to an improved combined ratio. Chubb said its consolidated P/C business ended the quarter with a combined ratio of 83.8, down from 85.6 a year earlier, and it attributed 1.9 points of the quarter's result to higher catastrophe losses.
Chubb also posted consolidated net premiums written of about $14.7 billion, up 3.6% year over year, while P/C net premiums increased 3% to about $12.8 billion. Insurance Journal reported that NPW decreased 2.3% in North America commercial, and that NPW was down 9% in Q2 for major accounts retail and E&S wholesale, while Chubb said NPW would be up 0.4% excluding large account and E&S property.
In its regional results, Chubb reported North America commercial combined ratio of 85.4 for Q2 2026 versus 83.5 in Q2 2025, and it cited 1.9 points tied to higher catastrophe losses. The company also said personal insurance in North America finished Q2 with a combined ratio of 67.3, compared with 73.5 last year. For the first half of 2026, Chubb said net income was about $5.2 billion, up 20.4% over the same period in 2025.