Chubb (CB) Q2 2026 Earnings
How Did CB Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: +2.45%.
Did CB Beat Earnings? Q2 2026 Results
Yes. Chubb reported Q2 2026 earnings of $7.26 a share on Jul 21, 2026, beating the $6.74 consensus estimate by 7.7%. Revenue was $13.9B against a $13.0B estimate.
Chubb delivered a convincing beat across the board in Q2 2026, extending its streak of consensus EPS beats to five consecutive quarters as adjusted diluted EPS of $7.26 topped the $6.75 estimate by 7.63% and revenue of $13.89 billion cleared the $13.03 billion consensus by 6.62%. The headline driver was an exceptional quarter of P&C underwriting, where income climbed 18.8% year-over-year to $1.94 billion and the combined ratio tightened to 83.8%, aided by a meaningful drop in catastrophe losses to $475 million from $630 million a year ago. Investment income also contributed, with adjusted net investment income reaching a record $1.88 billion, up 11.4%, supported by a $175 billion invested asset base. Revenue declined 6.8% year-over-year, reflecting deliberate underwriting discipline in property lines that CEO Evan Greenberg acknowledged has weighed on premium growth, though he signaled that headwind is expected to dissipate. Greenberg expressed confidence in continued double-digit tangible book value growth, with the company's geographic diversification, including 10.2% overseas premium growth, underpinning the optimistic outlook.
- P&C underwriting income up 18.8% with combined ratio of 83.8%
- Lower catastrophe losses of $475 million vs $630 million prior year
- Record adjusted net investment income of $1.88 billion, up 11.4%
- Overseas General net premiums written up 10.2%, or 4.8% in constant dollars
- Middle market and small commercial growth of 8.9%
- North America Personal P&C and Agricultural insurance each grew 6.0%
- Life Insurance segment income up 9.0% with International Life income up 13.0%
- Favorable prior period development of $283 million vs $249 million prior year
“We had a very strong quarter with results that again reflect the strengths of our company, including our sources of income, our diversification globally and the growth opportunities it presents, the size and strength of our balance sheet and the growth of our invested asset, and, finally, our disciplined approach to underwriting, which is a hallmark of our culture.”
Chubb CEO, on the earnings call
What Is Chubb's Outlook?
CEO Greenberg expressed confidence in Chubb's ability to continue to outperform and generate strong growth in operating earnings and EPS, along with double-digit growth in tangible book value, excluding catastrophe losses and foreign exchange impacts. He noted overly soft underwriting conditions persist in certain areas of property insurance globally and are spreading to certain areas of casualty and financial lines. The growth penalty from disciplined property underwriting is expected to dissipate going forward. The company remains well-diversified with the substantial majority of businesses growing.
CB YoY Financials
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $13.9B | $14.9B | −6.8% |
| Net Income | $2.9B | $3.0B | −3.8% |
CB Revenue by Segment
CB Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.