Chubb Limited

Management’s record is strong: 32 consecutive annual dividend increases (to 3.88 per share in 2025) and a new 5 billion repurchase authorization effective July 1, 2025. The company actively repurchased stock in 2025, including 1.23 billion in Q3 at an average price management deemed below intrinsic value.

Strategic M&A has been disciplined and long‑term oriented, notably the Cigna Asia A&H/Life acquisition completed in 2022 for 5.36 billion and majority control of Huatai Group in China, which Chubb now consolidates (ownership about 85.5 percent at 12/31/2024).

These moves expand consumer insurance and life earnings internationally while preserving underwriting culture. Stock‑based compensation and dilution are reasonable for a company of this scale. Score reflects thoughtful reinvestment, returns of capital, and accretive deals over time.