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CHUBB - Fundamentalanalyse - Jahresbericht / Bilanz / Geschäftsbericht

CHUBB (ISIN: CH0044328745, WKN: A0Q636) Kursdatum: 21.07.2017 Kurs: 147,000 USD
Beschreibung Daten
Symbol CB
Marktkapitalisierung 68.494.503.936,00 USD
Land Schweiz
Indizes S&P 500
Sektor Finanzdienstleister
Rohdaten nach US GAAP in Millionen USD
Aktiensplits 1998-03-03 - 3:1 |
Internet
Letztes Bilanz Update 28.02.2017

Fundamentaldaten

Fundamental Verhältnisse errechnet am: 21.07.2017
KFCV KCV DIV Rendite GKR EKQ KGV KUV KBV
12,94 12,94 1,86% 2,59 30,21 16,57 2,18 1,42

Firmenbeschreibung

Condensed unaudited quarterly financial data Three Months Ended  March 31 June 30 September 30 December 31(in millions of U.S. dollars, except per share data)2015 2015 2015 2015Net premiums earned$3,927 $4,360 $4,719 $4,207Net investment income551 562 549 532Net realized gains (losses) including OTTI(89) 126 (397) (60)Total revenues$4,389 $5,048 $4,871 $4,679Losses and loss expenses$2,122 $2,417 $2,643 $2,302Policy benefits$142 $153 $89 $159Net income $681 $942 $528 $683Basic earnings per share$2.08 $2.89 $1.63 $2.10Diluted earnings per share$2.05 $2.86 $1.62 $2.08 Three Months Ended  March 31 June 30 September 30 December 31(in millions of U.S. dollars, except per share data)2014 2014 2014 2014Net premiums earned$3,970 $4,332 $4,754 $4,370Net investment income553 556 566 577Net realized gains (losses) including OTTI(104) (73) (120) (210)Total revenues$4,419 

Firmenstrategie

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Segment information


Through December 31, 2015, Chubb operated through five business segments: Insurance – North American P&C, Insurance – North American Agriculture, Insurance – Overseas General, Global Reinsurance, and Life. These segments distribute their products through various forms of brokers, agencies, and direct marketing programs. All business segments have established relationships with reinsurance intermediaries.


The Insurance – North American P&C segment comprises our operations in the U.S., Canada, and Bermuda. This segment includes our retail divisions: ACE USA (including ACE Canada), ACE Commercial Risk Services, and ACE Private Risk Services, which includes the Fireman's Fund high net worth personal lines business acquired effective April 1, 2015; our wholesale and specialty divisions: ACE Westchester and ACE Bermuda; and various run-off operations, including Brandywine. ACE USA is the North American retail operating division which provides a broad array of traditional and specialty P&C, A&H, and risk management products and services to a diverse group of North America commercial and non-commercial enterprises and consumers. ACE Commercial Risk Services addresses the insurance needs of small and micro-sized businesses in North America by delivering a broad array of specialty product solutions for targeted industries that lend themselves to technology-assisted underwriting. ACE Private Risk Services provides high-value personal lines coverages for high net worth individuals and families in North America. ACE Westchester focuses on the North American wholesale distribution of excess and surplus lines property, casualty, environmental, professional liability, inland marine products and product recall coverages. ACE Bermuda provides commercial insurance products on an excess basis mainly to a global client base targeting Fortune 1000 companies and covering exposures that are generally low in frequency and high in severity including excess liability, D&O, professional liability, property insurance, and political risk, the latter being written by Sovereign Risk Insurance Ltd., a wholly-owned managing agent. The run-off operations do not actively sell insurance products but are responsible for the management of certain existing policies and settlement of related claims.


The Insurance – North American Agriculture segment comprises our North American based businesses that provide a variety of coverages in the U.S. and Canada including crop insurance, primarily Multiple Peril Crop Insurance (MPCI) and crop-hail through Rain and Hail Insurance Services, Inc. as well as farm and ranch, and specialty P&C commercial insurance products and services through our ACE Agribusiness unit. The MPCI program is offered in conjunction with the U.S. Department of Agriculture.


The Insurance – Overseas General segment comprises ACE International, ACE Global Markets (AGM), and the international supplemental A&H business of Combined Insurance. ACE International comprises our retail commercial P&C, A&H, and personal lines businesses serving territories outside the U.S., Bermuda, and Canada. ACE International maintains a presence in every major insurance market in the world and is organized geographically along product lines that provide dedicated underwriting focus to customers. ACE International has five regions of operations: ACE Europe, ACE Asia Pacific, ACE Eurasia and Africa, ACE Far East, and ACE Latin America. ACE International writes a variety of insurance products including P&C, professional lines (directors and officers and errors and omissions), marine, energy, aviation, political risk, specialty consumer-oriented products, and A&H (principally accident and supplemental health). AGM, our London-based international specialty and excess and surplus lines business, includes Syndicate 2488, a wholly-owned ACE syndicate. AGM offers products through its parallel distribution network via ACE European Group Limited (AEGL) and Syndicate 2488. Chubb provides funds at Lloyd's to support underwriting by Syndicate 2488, which is managed by ACE Underwriting Agencies Limited. AGM uses Syndicate 2488 to underwrite P&C business on a global basis through Lloyd's worldwide licenses. AGM uses AEGL to underwrite similar classes of business through its network of U.K. and European licenses, and in the U.S. where it is eligible to write excess and surplus lines business. The reinsurance operation of AGM is included in the Global Reinsurance segment. Combined Insurance distributes a wide range of supplemental A&H products.


The Global Reinsurance segment represents Chubb's reinsurance operations comprising ACE Tempest Re Bermuda, ACE Tempest Re USA, ACE Tempest Re International, and ACE Tempest Re Canada. The Global Reinsurance segment also includes AGM's reinsurance operations. These divisions provide a broad range of traditional and specialty reinsurance products including property catastrophe, casualty, and property reinsurance coverages to a diverse array of primary P&C insurers.


The Life segment includes Chubb's international life operations (ACE Life), ACE Tempest Life Re (ACE Life Re), and the North American supplemental A&H and life business of Combined Insurance. ACE Life provides a broad portfolio of protection and savings products including whole life, endowment plans, individual term life, group term life, group medical, personal accident, credit life, universal life and unit linked contracts through multiple distribution channels primarily in emerging markets including: Egypt, Hong Kong, Indonesia, South Korea, Taiwan, Thailand, and Vietnam; also throughout Latin America, selectively in Europe, and China through a non-consolidated joint venture insurance company. ACE Life Re helps clients (ceding companies) manage mortality, morbidity, and lapse risks embedded in their books of business. ACE Life Re's core business is a Bermuda-based operation which provides reinsurance to primary life insurers, focusing on guarantees included in certain fixed and variable annuity products and also on more traditional mortality reinsurance protection. ACE Life Re's U.S.-based traditional life reinsurance operation was discontinued for new business in January 2010. Since 2007, ACE Life Re has not quoted on new opportunities in the variable annuity reinsurance marketplace. Combined Insurance distributes specialty supplemental A&H and life insurance products targeted to middle income consumers and businesses in the U.S. and Canada.


Corporate includes the results of Chubb’s non-insurance subsidiaries, including Chubb Limited, ACE Group Management and Holdings Ltd., and ACE INA Holdings, Inc.  Corporate results consist primarily of interest expense, corporate staff expenses, Chubb integration expenses and other expenses not attributable to specific reportable segments, and intersegment eliminations.

For segment reporting purposes, certain items have been presented in a different manner below than in the consolidated financial statements. Management uses underwriting income as the main measure of segment performance. Chubb calculates underwriting income by subtracting Losses and loss expenses, Policy benefits, Policy acquisition costs, and Administrative expenses from Net premiums earned. For the Insurance – North American Agriculture segment, management includes gains and losses on crop derivatives as a component of underwriting income. For 2015, underwriting income in our Insurance – North American Agriculture segment was $197 million. This amount includes $9 million of realized losses related to crop derivatives which are included in Net realized gains (losses) below. For the Life segment, management includes Net investment income and (Gains) losses from fair value changes in separate account assets that do not qualify for separate account reporting under GAAP as components of Life underwriting income. For example, for 2015, Life underwriting income of $282 million includes Net investment income of $265 million and losses from fair value changes in separate account assets of $19 million.

The following tables present the Statement of Operations by segment:

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Earnings per share

Basic earnings per share is calculated using the weighted-average shares outstanding including participating securities with non-forfeitable rights to dividends such as unvested restricted stock. All potentially dilutive securities including stock options are excluded from the basic earnings per share calculation. In calculating diluted earnings per share, the weighted-average shares outstanding is increased to include all potentially dilutive securities. Basic and diluted earnings per share are calculated by dividing net income by the applicable weighted-average number of shares outstanding during the year.

For the Year Ended December 31, 2015 (in millions of U.S. dollars)
Insurance –
North
American P&C

 
Insurance – North American Agriculture

 
Insurance –
Overseas
General

 
Global
Reinsurance

 
Life

 
Corporate

 
Chubb
Consolidated

Net premiums written
$
6,907

 
$
1,346

 
$
6,634

 
$
828

 
$
1,998

 
$

 
$
17,713

Net premiums earned
6,582

 
1,364

 
6,471

 
849

 
1,947

 

 
17,213

Losses and loss expenses
4,450

 
1,088

 
3,052

 
290

 
601

 
3

 
9,484

Policy benefits

 

 

 

 
543

 

 
543

Policy acquisition costs
600

 
69

 
1,581

 
214

 
476

 
1

 
2,941

Administrative expenses
748

 
1

 
997

 
49

 
291

 
184

 
2,270

Underwriting income (loss)
784

 
206

 
841

 
296

 
36

 
(188
)
 
1,975

Net investment income
1,056

 
23

 
534

 
300

 
265

 
16

 
2,194