Chubb Reports Strong Q4 Earnings Despite California Fire Costs
Key Metrics:
* Q4 profit increased
* Underwriting business gains
* Investment returns boosted income
* Global P&C net premiums written rose 6.7%
* Adjusted net investment income jumped 13.7%
* Core operating income increased
Challenges:
* Estimated pre-tax net cost of $1.5 billion from California fires, impacting Q1 2025
Context:
Insurance spending remains resilient amidst economic and environmental uncertainties. Chubb's performance highlights the continued demand for coverage against risks such as natural disasters, cyberattacks, and health emergencies.
Outlook:
The impact of the California fires on Chubb's financials is expected to be temporary. The company's strong underwriting and investment strategies position it well for future growth.