Chubb Ltd

For the period ended Mar 31, 2026. Filed Apr 28, 2026.

About this filing

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.

Mar 31, 2026 · Filed Apr 28, 2026

CB$365.02-1.8%Stored close · as of Nov 6, 2026

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Shareholders' equity

Shareholders’ equity

All of Chubb’s Common Shares are authorized under Swiss corporate law. Though the par value of Common Shares is stated in Swiss francs, Chubb continues to use U.S. dollars as its reporting currency for preparing the Consolidated Financial Statements. Under Swiss corporate law, dividends, including distributions from legal reserves or through a reduction in par value (par value reduction), must be stated in Swiss francs though dividend payments are made by Chubb in U.S. dollars. At March 31, 2026, our Common Shares had a par value of CHF 0.50 per share.

At our May 2025 and 2024 annual general meetings, our shareholders approved annual dividends for the following year of up to $3.88 per share and $3.64 per share, respectively, which were paid in four quarterly installments of $0.97 and $0.91 per share, respectively, at dates determined by the Board of Directors (Board) after the annual general meetings by way of a distribution from capital contribution reserves, transferred to free reserves for payment.

The following table presents dividend distributions per Common Share in Swiss francs (CHF) and U.S. dollars (USD):

	Three Months Ended
	March 31
2026 · 2025
CHF · USD · CHF · USD
Total dividend distributions per common share	0.75	$0.97	0.81	$0.91

Increases in Common Shares in treasury are due to open market repurchases of Common Shares and the surrender of Common Shares to satisfy tax withholding obligations in connection with the vesting of restricted stock and the forfeiture of unvested restricted stock. Decreases in Common Shares in treasury are principally due to grants of restricted stock, exercises of stock options, purchases under the Employee Stock Purchase Plan (ESPP), and share cancellations.

On March 10, 2026, Chubb completed a share capital reduction by means of cancellation of 11,986,574 Common Shares purchased under our share repurchase program during 2025. The capital reduction was completed in accordance with the capital band provision for authorized share capital increases and reductions by the Board set forth in the Articles of Association. On March 7, 2025, Chubb completed a share capital reduction by means of cancellation of 7,518,565 Common Shares purchased under our share repurchase program during 2024. The capital reduction was completed in accordance with the capital band provision for authorized share capital increases and reductions by the Board set forth in the Articles of Association. During the three months ended March 31, 2026,3,517,810 shares were repurchased,11,986,574 shares were canceled, and 912,163 net shares were issued under employee share-based compensation plans. At March 31, 2026,11,625,267 Common Shares remain in treasury.

Chubb Limited securities repurchase authorizations

In June 2023, the Board authorized the repurchase of up to $5.0 billion of Chubb Common Shares, effective July 1, 2023, with no expiration date. In May 2025, the Board determined to terminate the June 2023 authorization as of June 30, 2025 and concurrently authorized a new repurchase amount of up to $5.0 billion of Chubb Common Shares, effective July 1, 2025, with no expiration date. The following table presents repurchases of Chubb's Common Shares conducted in a series of open market transactions under the Board authorizations:

Three Months Ended · April 1, 2026 through April 27, 2026
(in millions of U.S. dollars, except share data) · 2026 · 2025
Number of shares repurchased	3,517,810	1,345,782	1,029,374
Cost of shares repurchased	$1,143	$385	$340
Repurchase authorization remaining at end of period	$1,520	$1,300	$1,182

The following table presents changes in accumulated other comprehensive income (loss):

	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026	2025
Accumulated other comprehensive income (loss) (AOCI)
Net unrealized appreciation (depreciation) on investments
Balance – beginning of period, net of tax	$(1,997)	$(4,552)
Change in period, before reclassification from AOCI (before tax)	(1,939)	843
Amounts reclassified from AOCI (before tax)	113	58
Change in period, before tax	(1,826)	901
Income tax (expense) benefit	210	(61)
Total other comprehensive income (loss)	(1,616)	840
Noncontrolling interests, net of tax	(2)	(8)
Balance – end of period, net of tax	(3,611)	(3,704)
Current discount rate on liability for future policy benefits
Balance – beginning of period, net of tax	(344)	(539)
Change in period, before tax	386	(122)
Income tax (expense) benefit	(61)	12
Total other comprehensive income (loss)	325	(110)
Noncontrolling interests, net of tax	8	(4)
Balance – end of period, net of tax	(27)	(645)
Instrument-specific credit risk on market risk benefits
Balance – beginning of period, net of tax	(23)	(16)
Change in period, before tax	12	4
Income tax expense	(2)	(1)
Total other comprehensive income	10	3
Noncontrolling interests, net of tax	—	—
Balance – end of period, net of tax	(13)	(13)

	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026	2025
Accumulated other comprehensive income (loss) (AOCI) - continued
Cumulative foreign currency translation adjustment
Balance – beginning of period, net of tax	(3,135)	(4,025)
Change in period, before reclassification from AOCI (before tax)	537	367
Amounts reclassified from AOCI (before tax)	(9)	(8)
Change in period, before tax	528	359
Income tax expense	(6)	(12)
Total other comprehensive income	522	347
Noncontrolling interests, net of tax	165	7
Balance – end of period, net of tax	(2,778)	(3,685)
Fair value hedging instruments
Balance – beginning of period, net of tax	(58)	50
Change in period, before reclassification from AOCI (before tax)	(43)	(26)
Amounts reclassified from AOCI (before tax)	39	(65)
Change in period, before tax	(4)	(91)
Income tax benefit	1	19
Total other comprehensive loss	(3)	(72)
Noncontrolling interests, net of tax	—	—
Balance – end of period, net of tax	(61)	(22)
Postretirement benefit liability adjustment
Balance – beginning of period, net of tax	582	438
Change in period, before tax	(2)	(4)
Income tax expense	(1)	—
Total other comprehensive loss	(3)	(4)
Noncontrolling interests, net of tax	—	—
Balance – end of period, net of tax	579	434
Accumulated other comprehensive loss	$(5,911)	$(7,635)

The following table presents reclassifications from accumulated other comprehensive income (loss) to the Consolidated statements of operations:

Three Months Ended · Consolidated Statement of Operations Location
(in millions of U.S. dollars) · 2026 · 2025
Fixed maturities available-for-sale	$(113)	$(58)	Net realized gains (losses)
Income tax benefit	18	25	Income tax expense
	$(95)	$(33)	Net income
Cumulative foreign currency translation adjustment
Cross-currency swaps	$9	$8	Interest expense
Income tax expense	(2)	(2)	Income tax expense
	$7	$6	Net income
Net gains (losses) of fair value hedging instruments
Cross-currency swaps	$(34)	$69	Net realized gains (losses)
Cross-currency swaps	(5)	(4)	Interest expense
Income tax (expense) benefit	8	(14)	Income tax expense
	$(31)	$51	Net income
Total amounts reclassified from AOCI	$(119)	$24

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