Chubb Limited (CB) Q4 2022 Earnings Call Transcript

Chubb Limited (NYSE:CB) Q4 2022 Earnings Conference Call February 1, 2023 8:30 AM ET

Company Participants

Karen Beyer - Senior Vice President, Investor Relations

Evan Greenberg - Chairman and Chief Executive Officer

Peter Enns - Chief Financial Officer

Conference Call Participants

David Motemaden - Evercore ISI

Elyse Greenspan - Wells Fargo

Paul Newsome - Piper Sandler

Greg Peters - Raymond James

Tracy Benguigui - Barclays

Brian Meredith - UBS

Alex Scott - Goldman Sachs

Mike Zaremski - BMO

Operator

Good morning. My name is Rob and I will be your conference operator today. At this time, I’d like to welcome everyone to the Chubb Fourth Quarter 2022 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions] Thank you. Karen Beyer, Senior Vice President of Investor Relations, you may begin your conference.

Karen Beyer

Thank you and welcome everyone to our December 31, 2022 fourth quarter and year end earnings conference call. Our report today will contain forward-looking statements, including statements relating to company performance, pricing and business mix, growth opportunities and economic and market conditions, which are subject to risks and uncertainties and actual results may differ materially. Please see our recent SEC filings, earnings release, financial supplements which are available on our website at investors.chubb.com for more information on factors that could affect these matters. We will also refer today to non-GAAP financial measures, reconciliations of which to the most direct comparable GAAP measures and related details are provided in our earnings press release and financial supplements.

Now, I’d like to introduce our speakers. First, we have Evan Greenberg, Chairman and Chief Executive Officer; followed by Peter Enns, our Chief Financial Officer. Then we will take your questions. Also with us to assist with your questions are several members of our management team.

And now, it’s my pleasure to turn the call over to Evan.

Evan Greenberg

Good morning. We had a strong finish, which contributed to another record year. Our quarterly underwriting results were excellent, with an 88% combined ratio despite a true-up to the projected ‘22 crop insurance full year results. We had good growth in net investment income that led to a record result and double-digit premium growth with strong contributions from our commercial and consumer P&C lines globally and our international life business.