Chubb Proposes Dividend Increase
Chubb Limited has announced its board of directors will recommend an increase in its quarterly dividend at the company’s 2025 annual general meeting. If approved, this would be the 32nd consecutive year of dividend increases. The proposal includes an annual dividend of $3.88 per share, paid in four quarterly installments of $0.97 per share, up from the current $0.91 per share.
This announcement underlines the insurer’s strong financial performance.
Strong Financial Performance Despite Challenges
Last January, Chubb reported a net income of $9.27 billion for 2024, a 2.7% increase from the previous year. Operating income for the year reached $9.20 billion. These positive results come despite the company anticipating a $1.5 billion loss in the first quarter of 2025 due to the devastating wildfires in Los Angeles, which caused billions of dollars in damages.
“The California wildfire disaster is a terrible tragedy that is still unfolding,” said Chubb CEO Evan Greensberg.
Greensberg noted the company is actively assisting policyholders affected by property damage, displacement, and business disruption caused by the wildfires.
“While it doesn’t erase the enormous difficulty they have and will continue to experience, we are doing all we can, in small and big ways, to ease their burden. Our thoughts are with those who have suffered, and our gratitude goes to those firefighters and emergency workers who have served tirelessly,” Greenberg said.
Growth in Key Areas
Global P&C net premiums written rose 9.6% in 2024, with commercial insurance up by 8.7% and consumer insurance adding 12.1%. Furthermore, P&C underwriting income reached a record $5.85 billion, reflecting a 7.1% year-over-year increase.
Looking ahead, the company anticipates favorable market conditions for growth across more than 80% of its global P&C business, including commercial, consumer, and life insurance segments.
