Chubb Limited announced that its board of directors will recommend an increase in its quarterly dividend at the company’s 2025 annual general meeting.
If approved, this would mark the 32nd consecutive year of dividend increases.
The proposal includes a $3.88 annual per share dividend, paid in four quarterly installments of $0.97 per share, up from the current $0.91 per share.
Last January, the company reported net income of $9.27 billion for 2024, up 2.7% from the prior year. Operating income for the year was $9.20 billion.
This comes despite the insurer’s expected $1.5 billion loss in the first quarter of 2025 due to the wildfires that recently devastated Los Angeles, causing billions of dollars in damages. “The California wildfire disaster is a terrible tragedy that is still unfolding,” said Chubb CEO Evan Greensberg.
The CEO said the company is doing what it can to assist policyholders affected by property damage, displacement and business disruption caused by the wildfires.
“While it doesn't erase the enormous difficulty they have and will continue to experience, we are doing all we can, in small and big ways, to ease their burden. Our thoughts are with those who have suffered, and our gratitude goes to those firefighters and emergency workers who have served tirelessly,” Greenberg said.
Global P&C net premiums written rose 9.6% for 2024, with commercial insurance up by 8.7% and consumer insurance adding 12.1%. Meanwhile, P&C underwriting income reached a record $5.85 billion, up 7.1% year-over-year.
Looking ahead, the company said that market conditions remain favorable for growth in more than 80% of its global P&C business, including commercial, consumer and life insurance segments.
