# Chubb Limited (CB)

> Source: Nexqual · https://nexqual.com/CB · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Chubb Limited (CB), nexqual.com/CB" · informational, not investment advice.

**Price:** USD 363.95 (+2.54% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 354.95 · day 357.24–364.86 · 52w 273.35–365.91 · market cap $140B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $61.8B, net income $11.2B (18.1% margin) (SEC filings).
- Valuation: P/E 12.6x (avg 11.6x at the last 3 fiscal year-ends), net debt $15.4B.
- 6 of 80 tracked superinvestors hold CB (13F, Q2 2026): 0 new, 2 added, 2 reduced, 2 unchanged.
- Insider open-market sales, last ~7 months: 5 Form 4 filings, $13.8M; 5 not under a Rule 10b5-1 plan ($13.8M); 4 by opportunistic insiders (4 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.80 on a 1–5 scale) (25 analysts), mean target USD 371.48 (range 314–425).
- Total return with dividends: 1Y +29.8% vs S&P 500 +14.9%; 5Y +106.7% vs S&P 500 +80.3%.
- Next earnings: 2026-10-20, EPS estimate USD 7.28, revenue estimate $11.7B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $40.9B | $43.1B | $49.7B | $55.8B | $59.4B | $61.8B |
| Net income | $8.53B | $5.25B | $9.03B | $9.27B | $10.3B | $11.2B |
| EPS (diluted) | $19.24 | $12.39 | $21.80 | $22.70 | $25.68 | — |
| Net margin | 20.9% | 12.2% | 18.2% | 16.6% | 17.4% | 18.1% |
| Revenue growth | +13.5% | +5.5% | +15.4% | +12.1% | +6.5% | — |
| Cash + short-term investments | $1.66B | $2.01B | $2.62B | $2.55B | $2.47B | — |
| Total debt | $16.2B | $14.9B | $14.5B | $15.2B | $17.2B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 12.6x · P/S 2.3x · EV/Sales 2.5x · P/B 1.9x · Earnings yield 7.97% · Dividend yield (paid, TTM) 1.09% · Buyback yield (TTM) 3.20% · Net debt $15.4B · EV $156B
P/E at fiscal year-ends: Dec 2025 12.2x, Dec 2024 12.2x, Dec 2023 10.4x.

## Superinvestors (SEC 13F-HR, Q2 2026)
6 of 80 tracked investors hold CB. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| David Rolfe | Wedgewood Partners | 4.79% | $23.2M | Added +26.3% |
| Warren Buffett | Berkshire Hathaway | 3.90% | $11.7B | Unchanged |
| Christopher Davis | Davis Advisors | 1.68% | $391M | Reduced -4.0% |
| Viking Global | Viking Global Investors | 0.37% | $129M | Reduced -70.9% |
| Mairs & Power | Mairs & Power Funds | 0.01% | $837K | Added +0.7% |
| Dodge & Cox Funds | Dodge & Cox | <0.01% | $246K | Unchanged |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 5 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-21 | Connors Michael P | Director | 5,500 | $1.9M | 30% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-07-28 | Wayland Joseph F | Executive Vice President and* | 8,502 | $3.1M | 20.1% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-08 | Ortega Juan Luis | Executive Vice President* | 3,886 | $1.3M | 11.9% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-27 | Keogh John W | President &COO | 23,000 | $7.4M | 9.8% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-21 | Atieh Michael G | Director | 578 | $190K | 1.4% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 2.80 on a 1–5 scale), 25 analysts; mean target USD 371.48 (low 314, high 425).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | Citigroup | Target raised | Buy | $395 → $405 |
| 2026-10-22 | Wells Fargo | Target raised | Equal-Weight | $343 → $366 |
| 2026-10-22 | Mizuho | Target raised | Neutral | $336 → $350 |
| 2026-10-21 | Cantor Fitzgerald | Reiterated | Neutral | $333 |
| 2026-10-12 | Wells Fargo | Target lowered | Equal-Weight | $356 → $343 |
| 2026-10-12 | Keefe, Bruyette & Woods | Target lowered | Outperform | $389 → $387 |
| 2026-10-09 | JP Morgan | Target lowered | Neutral | $374 → $371 |
| 2026-10-07 | Mizuho | Target lowered | Neutral | $347 → $336 |
| 2026-10-07 | Cantor Fitzgerald | Target raised | Neutral | $330 → $333 |
| 2026-10-06 | Morgan Stanley | Target lowered | Equal-Weight | $360 → $350 |
| 2026-09-16 | Mizuho | Target lowered | Neutral | $352 → $347 |
| 2026-08-19 | Morgan Stanley | Target raised | Equal-Weight | $340 → $360 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +29.8% | +106.7% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +29.9% | +15.6% |
| Volatility (annualized) | 19.3% | 18.7% |
| Max drawdown | -10.3% (Jul 2026→Sep 2026) | -18.1% (Jan 2023→Mar 2023) |

## Peers (Insurance - Property & Casualty)
PGR (Progressive Corporation (The)) USD 229.62 +3.74% · TRV (The Travelers Companies, Inc.) USD 405.44 +1.63% · ALL (Allstate Corporation (The)) USD 259.1 +3.21% · WRB (W.R. Berkley Corporation) USD 75.55 +1.63% · CINF (Cincinnati Financial Corporatio) USD 178.28 +2.68% · MKL (Markel Group Inc.) USD 1,905.39 +1.79%

## More
Full page: https://nexqual.com/CB · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name CB in their own reports (relationship from CB's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | AUTOMATIC DATA PROCESSING INC (ADP) | 10-K 2026-08-05 | "ADP Indemnity paid a premium of $327.8 million in July 2026, to enter into a reinsurance agreement with Chubb to cover substantially all losses incurred by ADP Indemnity for fiscal 2027 policy year on…" |
| partner | Nu Holdings Ltd. (NU) | 20-F 2026-04-08 | "app in partnership with Chubb Limited, or "Chubb", a leading global insurance policy underwriter, and by acquiring Easynvest," |

## Company outlook (8-K filed 2026-10-20)

- "SM are trademarks of Chubb. 3 Chubb Limited News Release "On the investment side of our business, adjusted net investment income is a record $1.9 billion, supported by rising interest rates and an excellent fixed-income investment environment, which we have been anticipating for some time, given government deficits and the capital investment cycle."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $7.28 | $7.20 | +1.0% | $11.67B | 21 |
| Next quarter (ends 2027-03-31) | $7.25 | $7.21 | +0.6% | $12.16B | 19 |
| Current fiscal year (ends 2026-12-31) | $28.89 | $27.56 | +4.8% | $49.33B | 25 |
| Next fiscal year (ends 2027-12-31) | $29.38 | $29.11 | +1.0% | $51.43B | 25 |

## Options: expected move (Cboe, 15-min delayed)

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 19.6% | ±4.5% |
| 2026-12-18 | 56 | 19.8% | ±6.3% |
| 2027-01-15 | 84 | 19.5% | ±7.6% |
| 2027-02-19 | 119 | 20.7% | ±9.5% |
| 2027-03-19 | 147 | 20.7% | ±10.6% |
| 2027-05-21 | 210 | 21.6% | ±13.2% |
| 2027-06-17 | 237 | 21.6% | ±14.1% |
| 2027-09-17 | 329 | 21.9% | ±16.8% |