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Chubb’s Q2 P&C underwriting income rises 18.8% as combined ratio improves
Chubb said its Q2’26 combined ratio fell to 83.8% from 85.4% a year earlier, while P&C net premiums written rose 3% to $12.77 billion.
Chubb reported an 18.8% year over year increase in property and casualty underwriting income, reaching $1.94 billion in the second quarter of 2026, compared with $1.63 billion in Q2 2025, according to Reinsurance News. The insurer also said its Q2 2026 combined ratio improved to 83.8%, down from 85.4% in the prior year period.
The company attributed strength to P&C underwriting, investment and life income. Chubb reported core operating earnings of $2.8 billion, or $7.26 per share, which it said were up 14.6% and 18.2% year over year, respectively.
Chubb said P&C net premiums written increased 3% to $12.77 billion in Q2 2026, compared with $12.39 billion a year earlier. It reported North America Commercial was down 2.3%, while middle market and small commercial rose 8.9%, and it cited property underwriting actions for declines in major accounts and specialty.
On losses, Chubb reported total pre tax net catastrophe losses of $475 million in Q2 2026 versus $630 million in Q2 2025. In remarks covered by Reinsurance News, CEO Evan G. Greenberg said Chubb’s underwriting discipline and diversification supported growth amid soft property conditions, and he noted soft market pressure has been spreading to portions of casualty.
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