Chubb CEO Greenberg Discusses Personal Insurance Affordability and the Role of Data Centers

In the coming weeks, many insurers are expected to announce impressive quarterly and full-year earnings. These results could attract the attention of legislators and regulators, particularly as discussions around insurance affordability intensify.

During a recent conference call discussing Chubb’s financial results for the fourth quarter and the full year, CEO Evan G. Greenberg shared his perspective on the potential implementation of excess profit laws in some states. He expressed sympathy for the affordability issue in the United States but cautioned against blaming insurance as the primary culprit.

“We intermediate money,” Greenberg stated. “We don’t print money.” This statement underscores the financial dynamics at play in the insurance industry.

Chubb’s North America personal property and casualty (P/C) business reported a fourth-quarter combined ratio of 74.1, a significant improvement from 82.6 in the same period last year. The P/C underwriting income for 2025 reached a record $6.5 billion, with a combined ratio of 85.7, marking another record achievement.

Related: Chubb Posts Record Q4 and Full Year P/C Underwriting Income, Combined Ratio

Greenberg elaborated on the rising loss costs in the homeowners line, which are increasing by 7.5% to 8%. He noted that liability issues significantly contribute to these rising costs. “That’s a problem with litigation,” he remarked. “That’s not an insurance-company problem.”

While catastrophe losses also influence insurance pricing, they are assessed over a longer period. Chubb experienced an uptick in catastrophe losses in 2025 compared to 2024. Greenberg cautioned against politicizing the affordability issue related to homeowners insurance, warning that it could lead to availability problems and further exacerbate affordability concerns.

‘All Over’ Data Centers

Later in the call, Greenberg addressed Chubb’s involvement in the burgeoning data center sector, which is experiencing rapid growth due to increasing demand for digital infrastructure. Over the next five years, thousands of data centers are expected to be constructed, with investments in digital infrastructure projected to reach around $3 trillion.

Related: Data Center Boom Offers Organic Growth Opportunities for Brokers

From an insurance perspective, Greenberg stated that Chubb is “all over it.” The company has been actively writing insurance for data centers globally, offering extensive capabilities. He emphasized that Chubb provides primary property coverage, conducts engineering for underwriting, and can cover various risks, including marine, surety, general liability, and professional liability.

“We have large capacity we put at it,” Greenberg added. “Others take shares [of the risk] behind us, generally. We are one of the few that writes insurance around the broad variety of exposures that those constructing data centers confront.”

Greenberg also highlighted the challenges data centers face regarding the affordability and availability of power, as well as labor and supply costs. “While many projects are announced, how much of this actually gets built and over what period of time remains a question,” he concluded.

Topics
Data Driven

In the coming weeks, many insurers are expected to announce impressive quarterly and full-year earnings. These results could attract the attention of legislators and regulators, particularly as discussions around insurance affordability intensify.

During a recent conference call discussing Chubb’s financial results for the fourth quarter and the full year, CEO Evan G. Greenberg shared his perspective on the potential implementation of excess profit laws in some states. He expressed sympathy for the affordability issue in the United States but cautioned against blaming insurance as the primary culprit.

“We intermediate money,” Greenberg stated. “We don’t print money.” This statement underscores the financial dynamics at play in the insurance industry.

Chubb’s North America personal property and casualty (P/C) business reported a fourth-quarter combined ratio of 74.1, a significant improvement from 82.6 in the same period last year. The P/C underwriting income for 2025 reached a record $6.5 billion, with a combined ratio of 85.7, marking another record achievement.

Related: Chubb Posts Record Q4 and Full Year P/C Underwriting Income, Combined Ratio

Greenberg elaborated on the rising loss costs in the homeowners line, which are increasing by 7.5% to 8%. He noted that liability issues significantly contribute to these rising costs. “That’s a problem with litigation,” he remarked. “That’s not an insurance-company problem.”

While catastrophe losses also influence insurance pricing, they are assessed over a longer period. Chubb experienced an uptick in catastrophe losses in 2025 compared to 2024. Greenberg cautioned against politicizing the affordability issue related to homeowners insurance, warning that it could lead to availability problems and further exacerbate affordability concerns.

‘All Over’ Data Centers

Later in the call, Greenberg addressed Chubb’s involvement in the burgeoning data center sector, which is experiencing rapid growth due to increasing demand for digital infrastructure. Over the next five years, thousands of data centers are expected to be constructed, with investments in digital infrastructure projected to reach around $3 trillion.

Related: Data Center Boom Offers Organic Growth Opportunities for Brokers

From an insurance perspective, Greenberg stated that Chubb is “all over it.” The company has been actively writing insurance for data centers globally, offering extensive capabilities. He emphasized that Chubb provides primary property coverage, conducts engineering for underwriting, and can cover various risks, including marine, surety, general liability, and professional liability.

“We have large capacity we put at it,” Greenberg added. “Others take shares [of the risk] behind us, generally. We are one of the few that writes insurance around the broad variety of exposures that those constructing data centers confront.”

Greenberg also highlighted the challenges data centers face regarding the affordability and availability of power, as well as labor and supply costs. “While many projects are announced, how much of this actually gets built and over what period of time remains a question,” he concluded.

Topics
Data Driven