In short: There are some financial points to watch
✅Does it earn well?
Yes, solidly
It generates steady profit relative to the capital invested.
Metrics · ROE 14.8% · Operating Margin 18.2%
⚠️Will the company survive?
Carries some debt
Debt burden is moderate, so it can be affected by the economic cycle.
Metrics · D/E ~25% · Current Ratio 0.39
💲Is the price expensive now?
Not a heavy price burden
The price is set low relative to its earning power.
Metrics · P/E 12.7 · P/B 1.8
💡World's largest P&C insurer: net margin 18.2%, ROE 14.8%, P/E 12.7. Combined ratio 83.8% is strong underwriting; a 0.39 current ratio is normal for insurers.
Compiled from public financial data. Not a recommendation to buy or sell any security. · Source: stockanalysis (net margin, ROE, P/B are TTM; insurers have no operating-income line, so net margin is used for profitability) · P/E and P/B on the July 27 close, as of 2026-07-27
Business Summary · Key Value Metrics
The world's largest listed P&C insurer, writing commercial and personal property-casualty plus life, health, and reinsurance in 54 countries. Premiums and investment income on ~$175B of assets drive earnings; a Q2 2026 combined ratio of 83.8% (below 100 = underwriting profit) shows the discipline. ACE bought Chubb in 2016 and took its name. TTM revenue $61.5B, net margin 18.2%, ROE 14.8%.
Current Price
$358.91
-0.23%-$0.84· Close 2026-07-27
Analyst Consensus Target (external reference)
$365.74
Avg. of 25 external analysts · stockanalysis (25-analyst consensus, Buy)
P/E (TTM)
12.7x
TTM · low end for large caps
Net margin
18.2%
TTM · insurers have no op-income line
ROE
14.8%
TTM · reflects low leverage
Combined ratio
83.8%
Q2'26 · below 100 = underwriting profit
Debt/Equity
0.25x
current ratio 0.39 normal for insurers
Market cap
$138.4B
as of 2026-07-27
Economic Moat · Key Business Segments
Chubb's moat is decades of underwriting discipline and scale. Its Q2 2026 P&C combined ratio was 83.8% (82.2% ex-catastrophe), among the best of large insurers — the 16.2 points below 100 are profit from underwriting itself. On top of that, about $175B of investment assets (+9% YoY) generated a record $1.88B of quarterly net investment income, a second earnings engine. Underwriting P&C, life, health, and reinsurance across 54 countries spreads catastrophe and regional risk, and tangible book value per share compounded +17.1% YoY to $131.93 (source: company IR, stockanalysis).
Underwriting discipline
Combined ratio 83.8%, top-tier among large insurers. Selling policies makes profit, not loss.
54 countries, P&C + life + reinsurance. No single catastrophe or region can sink the whole.
Book-value compounding
Tangible BVPS +17.1% YoY — the net worth that anchors an insurer keeps compounding.
10-Year Financial Trends
Revenue grew from $31.5B (2016) to $59.4B (2025), a 9-year CAGR of +7.3%; net income +10.7% and diluted EPS +12.5% ran faster, blending buybacks with low-catastrophe windfalls. 2021 EPS of $19.24 came in a light-catastrophe year with large realized gains, and 2023 EPS of $21.80 included a one-off gain from a deferred tax asset (DTA) tied to Bermuda's new corporate tax — so those years' low P/Es (10.0, 10.4) aren't true earning power. 2020 was a COVID trough (ROE 5.9%). Q2 2026: revenue $15.77B (+6.5% YoY), core operating EPS $7.26 (+18.2% YoY) (source: SEC EDGAR, stockanalysis, IR).
10-Year Growth
Revenue$59.4B · CAGR +7.3%
Operating Income$13.0B · CAGR +11.4%
EPS$25.68 · CAGR +12.5%
10-Year Valuation
P/E (year-end)12.2x · avg 14.6x
ROE14.0% · avg 10.7%
Operating Margin17.4% · avg 14.5%
📊 Annual Data Table (CB) — expand/collapse
Year
Revenue (B$)
Op. Income (B$)
EPS ($)
P/E (x)
ROE (%)
Op. Margin (%)
2016
31.47
4.95
8.87
14.9
8.6
13.1
2017
32.24
3.72
8.19
17.8
7.5
12
2018
32.72
4.66
8.49
15.2
7.9
12.1
2019
34.19
5.25
9.71
16
8
13
2020
35.99
4.16
7.79
19.8
5.9
9.8
2021
40.87
9.79
19.24
10
14.6
20.9
2022
43.1
6.49
12.39
17.8
10.4
12.2
2023
49.74
9.53
21.8
10.4
15.2
18.2
2024
55.75
11.46
22.7
12.2
14.5
16.6
2025
59.4
13.04
25.68
12.2
14
17.4
— = no data for that year/metric (P/E omitted before EPS turned positive)
9-Year CAGR: Revenue +7.3% · Operating Income +11.4% (pretax) · Net Income +10.7% · EPS +12.5%
Source: SEC EDGAR 10-K (revenue, pretax income, net income, diluted EPS, equity, taxes) · year-end closes from Yahoo Finance · cross-checked with stockanalysis. P/E = year-end close ÷ diluted EPS; the five years 2021–2025 match stockanalysis figures (10.05, 17.80, 10.37, 12.17, 12.15). ROE is on year-end equity and reconciles with the published figures (on average equity) within methodology. The 2023 jump in net income is a one-off deferred-tax-asset recognition from Bermuda's corporate income tax.
Mega-Cap Value Metric Comparison
Chubb's net margin of 18.2% tops Travelers (17.0%) and Progressive (12.9%), and its 12.7 P/E is around the large-insurer average. Its 14.8% ROE looks lower than Travelers (26.5%) or Progressive (34.9%), but that is because Chubb's equity base (~$74B) is far larger and less leveraged (more conservative) — the same profit sits on thicker capital, so ROE alone doesn't decide superiority. Its 1.08% dividend yield is the lowest of the three, but Progressive's ~6% is mostly an annual variable special dividend (source: stockanalysis, company IR).
Metric
★ CB
TRV
PGR
P/E (TTM)
12.7
10.5
10.8
Net margin
18.2%
17.0%
12.9%
ROE
14.8%
26.5%
34.9%
Debt/Equity
0.25
0.27
0.24
Dividend yield
1.08%
1.29%
0.3%*
P/E, net margin, ROE, D/E = TTM · PGR yield is the regular portion (ex variable special) · source: stockanalysis, retrieved 2026-07-27.
Key Risk Factors (from 10-K)
●
Catastrophe exposure— In years when hurricanes, earthquakes, or wildfires cluster, the combined ratio spikes and net income can fall sharply — 2017 (Harvey, Irma, Maria) was such a year. More frequent and severe catastrophes from climate change are a structural risk of P&C insurance.Source: Company 10-K
●
Some years include one-off gains— The jumps in 2021 (low catastrophes, realized investment gains) and 2023 (deferred-tax-asset recognition from Bermuda's new corporate tax) mixed in one-offs. Don't mistake those years' low P/E for the normal earning power.Source: Company 10-K · SEC EDGAR
●
Near 52-week high, limited upside— At $358.91 the stock sits near its 52-week high ($365.29), and the consensus target ($365.74) is only +1.9% away. Results are solid, but room for re-rating is limited.Source: stockanalysis
✦ ValueCrab Dashboard PreviewCB $358.91 -0.23% · as of 2026-07-27
Q. What are the key value metrics for Chubb (CB)?P/E (TTM) 12.7, net margin 18.2%, ROE 14.8%, D/E 0.25x, combined ratio 83.8%, 9-year revenue CAGR +7.3% (source: stockanalysis, SEC EDGAR, as of 2026-07-27).
Q. A current ratio of 0.39 — isn't that risky?For insurers the current ratio means something different than for manufacturers or retailers. Reserves for future claims are booked as large liabilities, but they aren't debts due immediately — they pay out over many years. So large P&C insurers normally run current ratios well below 1, and read alongside Chubb's 0.25x debt/equity and its investment portfolio, the balance sheet is solid.
Q. What is the combined ratio?It's how much an insurer paid out in claims and expenses per $100 of premium. Below 100 means underwriting itself was profitable. Chubb's Q2 2026 combined ratio was 83.8%, so the 16.2 points below 100 are underwriting profit — top-tier among large insurers.
Q. A 12.7 P/E looks cheap — why does it trade there?P&C insurance is a cyclical business where earnings swing in heavy-catastrophe years, so the market doesn't award growth-stock multiples. That said, Chubb's underwriting discipline (83.8% combined ratio), investment income, and steady book-value compounding make it closer to 'cheap yet solid.' We don't give price targets or buy recommendations — the decision is yours.