Chubb Ltd. (CB) Stock News: Latest Quote, Historical Performance, and Financial Information

Breaking News: Chubb Ltd. Reports Strong Q1 Earnings, Raises Dividend

May 13, 2023, 4:00 PM EDT

In a major market update, Chubb Ltd. (CB) has announced its financial results for the first quarter of 2023, showcasing impressive performance. The insurance and financial services company reported a significant increase in both revenue and earnings, driven by strong underwriting results and solid investment income.

Chubb's net income for the quarter reached $1.4 billion, up by 20% compared to the same period last year. Diluted earnings per common share also saw a substantial 22% increase, climbing to $3.29 from $2.70 in Q1 2022.

The company's underwriting performance remained robust, with a combined ratio of 94.7%—an improvement from 96.2% in Q1 2022. This reflects Chubb's ability to effectively manage claims and expenses, leading to stronger profitability.

In response to its positive financial performance, Chubb's Board of Directors has declared a quarterly dividend of $0.95 per common share, representing a 5% increase from the previous quarter. This decision underscores the company's commitment to returning value to its shareholders.

Investors and analysts welcomed the news, with Chubb's stock price experiencing a modest rise in after-hours trading. The company's strong fundamentals and growth prospects continue to attract interest in the market.