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Q2 net income declines at Chubb as prices soften - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Q2 net income declines at Chubb as prices soften by Matthew Lerner Evan G. Greenberg Financial Results , P/C Insurers Chubb Jul 22, 2026 Softening commercial insurance pricing hurt profitability as second – quarter net income fell at Chubb. The insurer reported second – quarter net income of $2.85 billion, down 3.8% from the same period last year. Soft market conditions have begun to spread beyond property to more casualty lines, particularly excess and surplus lines, according to Evan G. Greenberg, chairman and CEO of Chubb, speaking on Chubb’s Tuesday morning earnings call with analysts. “Pricing in numerous areas of casualty are failing to keep pace with loss costs, which are hardly benign,” Mr. Greenberg said. “Those classes of large account and middle market are growing more competitive.” U.S. casualty loss costs are rising at a “pretty steady” 6% to 7% for primary casualty, and 9% to 12% for excess, according to Mr. Greenberg. “Pricing becomes marginal or inadequate pretty quickly when you’re running those kinds of loss costs,” he said. In property markets, Mr. Greenberg singled out underperforming U.S. large account excess and surplus property, “where we again shed a significant volume of premium.” Financial lines continued to be soft, he said. In North America, commercial premiums in Chubb’s middle market and small commercial division, however, grew almost 9%. “This is a powerhouse franchise,” Mr. Greenberg said. For the second quarter, consolidated net premiums written rose 3.6% to $14.7 billion. Property/casualty net premiums written rose 3.0% to $12.77 billion while the property/casualty combined ratio improved to 83.8% from 85.6% in last year’s second quarter. In North American commercial property/casualty insurance, net premiums written fell 2.3% to $5.59 billion. Pre-tax net catastrophe losses were $475 million compared with $630 million in the prior year. Pre-tax net investment income was $1.76 billion, up 12.3%. For the six months ended June 30, net income rose 20.4% to $5.17 billion. 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