Chubb Limited (NYSE: CB) reported strong financial results for the fourth quarter and full year of 2024. The company achieved record net income per share of $6.33 for the quarter and $22.70 for the full year, while core operating income per share reached $6.02 for the quarter and $22.51 for the year. Global Property & Casualty (P&C) net premiums written increased 6.7% for the quarter and 9.6% for the year, with a P&C combined ratio of 85.7% and 86.6%, respectively.

For the fourth quarter, net income was $2.58 billion, with pre-tax catastrophe losses of $607 million, including $309 million from Hurricane Milton. Life Insurance net premiums written grew by 8.5% in constant dollars. Chubb's pre-tax net investment income reached a record $1.56 billion, up 14.0% year-over-year.

For the full year, net income reached a record $9.27 billion, while core operating income was $9.20 billion. P&C underwriting income rose to $5.85 billion with a combined ratio of 86.6%. The company also reported record investment income of $5.93 billion, up 20.1%.

Chairman and CEO Evan Greenberg highlighted strong underwriting and investment performance, a favorable market outlook, and confidence in double-digit growth in operating earnings and EPS in 2025. Chubb also announced a total capital return to shareholders of $3.48 billion for the year, including $2.02 billion in share repurchases and $1.46 billion in dividends.

The company will hold a conference call on January 29, 2025, at 8:30 a.m. Eastern Time. Further financial details and segment results are available in Chubb’s investor relations section.