2024-07-25 07:07:07 ET
Summary
- Chubb reported solid Q2 earnings, with adjusted EPS beating expectations and revenue rising 12%.
- CB has strong underwriting profitability despite modest margin compression from catastrophe losses returning to normal levels.
- Chubb continues to see strength across geographies, with North America P&C premiums rising and overseas premiums growing.
- With its portfolio yielding less than market levels, fixed maturity reinvestment remains a tailwind.
Shares of Chubb (CB) were flat on Wednesday after the company reported solid Q2 earnings. With shares up 31% over the past year and sitting near a 52-week high, investors may have been looking for a large beat to propel shares even higher. I last covered Chubb in May in the wake of Berkshire Hathaway’s disclosed purchase of shares, and I reiterated my buy recommendation. Since then, shares are essentially flat, and with new financials, now is a good time to revisit CB....
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Chubb Delivers Solid Q2 Results As Investment Tailwind Persists