At a glance
Chubb Ltd is worth $140.98B, about 14 times its fiscal 2025 earnings. Revenue grew 6.5% to $59.40B in fiscal 2025, with 17.4% kept as profit; over 5 years it has grown 10.5% a year. It pays a 1.08% dividend yield, raised every year for at least 9 years, and returned $22.77B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +34.9% over the past year with dividends reinvested and +15.8% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 42.2% in the 2020 crash (S&P 500: 33.7%) and 19.1% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 10 months and 2 months after the lows.
The business in plain English
Chubb Ltd, formerly ACE Ltd, is a global insurer incorporated in Switzerland and based in Zurich, with operations in 54 countries and territories. Its core is property and casualty (P&C) insurance, which covers damage to property and legal claims against policyholders. Customers range from multinational corporations and small businesses to affluent families insuring homes, cars and valuables. Chubb also offers accident and supplemental health (A&H) cover, life insurance and reinsurance (insurance for other insurers). Most customers purchase through brokers or agents paid by commission.
Chubb makes money three ways: underwriting income (premiums left after claims and expenses), investment income on money held to pay future claims, and life insurance profits. It says it puts careful selection and pricing of risks ahead of volume or market share. In 2025, net premiums earned were $53.0 billion, total revenue $59.4 billion and net income $10.3 billion.
Chubb reports six segments. The largest, North America Commercial P&C, was 38% of 2025 net premiums earned; the unit serving mid-size and small firms made up 40% of that segment and Major Accounts, for large corporations, 36%. The others are North America Personal P&C, North America Agricultural, Overseas General, Global Reinsurance and Life Insurance. Chubb bought Cigna's business in several Asian markets in 2022 and owned about 87.2% of China's Huatai Group at December 31, 2025.
Price history
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CB +34.9% over the year to Nov 2, 2026, total return with dividends reinvested.
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $16.20B, up 0.3% from a year earlier, and net income was $2.84B (+1.5%).
- For fiscal 2025, revenue was $59.40B (+6.5% year over year; +10.5% a year from FY2020 to FY2025) with a 17.4% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +10.5% good |
|---|---|
| Return on equity (FY2025) | 14% watch |
| Return on assets (FY2025) | 3.8% watch |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $35.99B | $3.53B | — |
| FY2021 | $40.87B | $8.53B | — |
| FY2022 | $43.10B | $5.25B | — |
| FY2023 | $49.73B | $9.03B | — |
| FY2024 | $55.75B | $9.27B | — |
| FY2025 | $59.40B | $10.31B | — |
Valuation snapshot
| Market value | $140.98B |
|---|---|
| P/E ratio | 14.4 |
| Dividend yield | 1.08% |
Rank among 1514 US companies
Market value at each year end
Chubb Ltd’s market value went from $61.48B at the end of 2016 to $140.98B on Nov 2, 2026, about 2.3 times as much; since the end of 2025 it is up 15%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $140.98B | +14.8% |
| 2025 | $122.84B | +10.3% |
| 2024 | $111.38B | +20.8% |
| 2023 | $92.21B | +0.7% |
| 2022 | $91.56B | +10.0% |
| 2021 | $83.27B | +19.9% |
| 2020 | $69.47B | -1.5% |
| 2019 | $70.55B | +18.5% |
| 2018 | $59.53B | -12.2% |
| 2017 | $67.84B | +10.3% |
| 2016 | $61.48B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| CB price data to Nov 2, 2026 | +19.3% | +34.9% | +20.6% | +15.8% | +13.5% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +19.3% |
| 2025 | +14.4% |
| 2024 | +23.9% |
| 2023 | +4.2% |
| 2022 | +16.0% |
| 2021 | +27.9% |
| 2020 | +1.4% |
| 2019 | +22.9% |
| 2018 | -9.6% |
| 2017 | +12.8% |
| 2016 | +15.6% |
| 2015 | +6.5% |
| 2014 | +16.7% |
| 2013 | +34.4% |
| 2012 | +20.9% |
| 2011 | +17.3% |
| 2010 | +29.8% |
| 2009 | +1.1% |
| 2008 | -9.9% |
| 2007 | +5.9% |
| 2006 | +26.2% |
| 2005 | +15.7% |
| 2004 | +4.2% |
| 2003 | +42.7% |
| 2002 | -26.2% |
| 2001 | -4.6% |
| 2000 | +156.5% |
| 1999 | -51.1% |
| 1998 | +7.7% |
| 1997 | +60.8% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 46.3% over that stretch · deepest drop along the way 50.4%, back to its old high 18.4 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 42.2% over that stretch · deepest drop along the way 42.2%, back to its old high 10.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 2.2% over that stretch · deepest drop along the way 19.1%, back to its old high 2 months after the low |
Insider activity
Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 0 open-market purchases and 8 sales ($23.5M).
| Date | Insider | Type | Value |
|---|---|---|---|
| May 27, 2026 | John W Keogh President &COO | sell | $6.5M |
| Oct 29, 2026 | Evan G Greenberg Chairman & CEO | sell | $5.0M |
| Oct 26, 2026 | Timothy Alan Boroughs Executive Vice President* | sell | $4.6M |
| Jul 28, 2026 | Joseph F Wayland Executive Vice President and* | sell | $3.1M |
| Aug 21, 2026 | Michael P Connors Director | sell | $1.9M |
Who owns it
Large shareholders (13G filings)
| Warren E. Buffett | 8% | Sep 30, 2025 |
| Vanguard Capital Management | 6.88% | Mar 31, 2026 |
ETFs with the most weight in CB
| IAK iShares U.S. Insurance ETF | 12.06% |
| KBWP Invesco KBW Property & Casualty Insurance ETF | 8.14% |
| DFNL Davis Select Financial ETF | 5.39% |
| BEEX Beehive ETF | 4.07% |
| DVLU First Trust Dorsey Wright Momentum & Value ETF | 3.25% |
| DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF | 2.98% |
| FMCX FM Focus Equity ETF | 2.94% |
| LGCF Themes US Cash Flow Champions ETF | 2.86% |
What could go wrong
- Big disasters can cause large losses. Hurricanes, earthquakes, fires, war, pandemics and major cyber-attacks can trigger many large claims at once. Chubb warns climate change may make natural catastrophes more frequent and severe, and cyber risks keep evolving.
- Claim reserves could prove too small. Reserves are Chubb's estimates of claims it still owes, some payable over many years. If claims exceed them, including asbestos and environmental claims (about 1.4% of gross reserves at December 31, 2025), profits fall.
- A few brokers bring in much business. Chubb depends on a small number of brokers and agents for a large portion of its revenue. Losing business from any one of them could hurt premiums and earnings.
- Global reach brings political and currency risk. With operations in 54 countries and territories, including a majority-owned Chinese insurance group, Chubb is exposed to geopolitical upheaval, changing regulation and currency swings that can reduce profits and shareholders' equity.
- Swiss and Bermuda status brings tax complications. Shareholders may have Swiss tax withheld from dividends, and Swiss law limits some share buybacks. Bermuda's new corporate income tax and new OECD and EU tax rules could also raise Chubb's tax bill.
- Insurance pricing moves in cycles. Insurance markets swing between strong and weak pricing. Chubb expects periods when too many insurers compete for business and premium rates turn unfavorable. New competitors and technology could also squeeze its margins.
Recent events
- Quarterly results released
- Quarterly results released
- Other company announcement
- Executive or board change; Bylaws or fiscal year changed; Shareholder vote results
- Other company announcement
- Quarterly results released
- Bylaws or fiscal year changed
- Quarterly results released
- Investor presentation or announcement
- Executive or board change; Investor presentation or announcement
For income and retirement investors
Chubb has raised its dividend at least nine years in a row through fiscal 2025, and the streak may be longer. The dividend grew from $3.06 in 2020 to $3.82 in 2025, about 4.5% a year, and took just 14.6% of 2025 earnings. The yield was a modest 1.09% as of October 30, 2026, and dividends may face Swiss withholding tax. Chubb returned more cash by repurchasing its shares: $15.7 billion in 2021–2025, versus $7.1 billion in dividends, and the share count fell 10.4% from February 2022 to October 2026.
Market crashes have hit the shares hard. They dropped 50.4% in the 2008 financial crisis and needed about 18 months from the March 2009 low to regain their peak. In the 2020 COVID crash they fell 42.2% and recovered by February 2021. In the 2022 bear market the worst drop was 19.1%, erased in about two months. As a single stock, Chubb carries more risk than a diversified fund.
Questions investors ask
How does Chubb make money?
Chubb makes money by insuring businesses and people against property damage, legal liability and accidents, then investing the premiums. It names three sources of income: underwriting profit on property and casualty policies (premiums minus claims and costs), investment income and life insurance income. In fiscal 2025, revenue was $59.4 billion, up 6.5%, and net income was $10.3 billion. Growth slowed in the quarter ended September 30, 2026: revenue of $16.2 billion was up just 0.3% from a year earlier, and net income of $2.8 billion rose 1.5%.
Does Chubb raise its dividend every year?
Yes, so far. Chubb has raised its dividend per share at least nine years in a row through fiscal 2025, and the streak may go back further. Its dividend was $3.82 a share in fiscal 2025, up from $3.59 in 2024 and $3.06 in 2020, or about 4.5% growth a year. Dividends paid took just 14.6% of 2025 net income, a low payout ratio (the share of profit paid out as dividends). The yield was 1.09% as of October 30, 2026.
Is Chubb a Swiss or American company?
It is Swiss. Chubb Limited is incorporated in Switzerland and headquartered in Zurich, though its shares trade on the New York Stock Exchange. It was incorporated in 1985 and opened its first office in Bermuda, where it still operates. The Swiss link matters to shareholders: dividends may be subject to Swiss withholding taxes, Swiss law places some limits on share buybacks, and the company warns that U.S. shareholders could face adverse U.S. tax consequences in certain circumstances.
Does Warren Buffett own Chubb stock?
Yes. A Schedule 13G filing, which passive investors owning more than 5% of a company must file, showed Warren E. Buffett with an 8% stake as of September 30, 2025. Vanguard Capital Management reported 6.88% as of March 31, 2026. Insider filings from October 29, 2025 to October 29, 2026 include at least eight sales by Chubb executives and directors, worth about $18.7 million; the largest was a $6.5 million sale by President and Chief Operating Officer John W. Keogh.
How has Chubb stock performed?
Chubb's share price rose 32.6% in the year to October 30, 2026, and gained about 14.9% a year over five years and 13.1% a year over ten years, not counting dividends. The ride has been bumpy at times: the stock's worst fall in about 30 years of price history was 64.6%. In 2022, a bear market for stocks broadly, Chubb's price still rose 16% for the year. As of October 30, 2026, its price-to-earnings (P/E) ratio, the share price divided by earnings per share, was 14.2, based on fiscal 2025 earnings.