Chubb said gross unpaid loss and loss expense reserves were $80.1 billion and net unpaid loss and loss expense reserves were $62.2 billion as of December 31, 2023. The company said about 78% of its loss reserves relate to casualty-related business, which typically encompasses long-tail risks.

1. 01

   Chubb said gross unpaid loss and loss expense reserves were $80.1 billion and net unpaid loss and loss expense reserves were $62.2 billion as of December 31, 2023. The company said about 78% of its loss reserves relate to casualty-related business, which typically encompasses long-tail risks.

2. 02

   The company said it repurchased $2.5 billion of common shares in the open market in 2023 at an average price of $209.52 per share. It said it bought 269,450 shares for $67 million from January 1, 2024 to February 22, and that as of February 22, 2024, $3.6 billion remained under its repurchase authorization.

3. 03

   The company estimated total gross loss payments under its insurance and reinsurance contracts at $80.2 billion, and said $22.4 billion of this amount is expected to be paid within the next 12 months. It said actual payments and their timing may differ from its estimates, and that the differences could be significant.

4. 04

   The company said the cash needed to acquire the pending incremental shares of Huatai Group is about $245 million at current exchange rates and is expected to be paid in Q1 2024. It said the timing of completion depends on material conditions.

Key figures

Fiscal year ended December 31, 2023

Revenue

$49.7B

Net income

$9.0B

EPS

$21.80

Operating cash flow

$12.6B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.