Chubb Ltd
For the period ended Jun 30, 2024. Filed Jul 26, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Jul 26, 2024
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Effective Income Tax Rate
Our effective tax rate (ETR) reflects a mix of income or losses in jurisdictions with a wide range of tax rates, permanent differences between U.S. GAAP and local tax laws, and the impact of discrete items. A change in the geographic mix of earnings could impact our ETR.
For the three and six months ended June 30, 2024, our ETR was 18.1 percent and 15.6 percent, respectively, compared to an ETR of 17.9 percent and 17.4 percent, respectively, in the prior year. The ETR for each period was impacted by our mix of earnings among various jurisdictions and by discrete tax items. The six months ended June 30, 2024 included an incremental deferred tax benefit of $55 million in the first quarter related to the Bermuda tax law enacted in December 2023.
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