← Market Overview

8240

Governance: B

CHUBB

18.17 SAR / Share

As of: May 28, 2026

68.2x P/E Ratio Trailing 12 Months

1.5x P/B Ratio Price to Book Value

— Dividend Yield Annual Dividend / Share

726.80M SAR Market Cap Total Valuation

1.00 Beta Systematic Risk Index

11.0% Net Margin Net Profit / Revenue

The Story

CHUBB operates as a highly capitalized, conservative player in the Saudi insurance market, prioritizing underwriting discipline over aggressive volume expansion.

Source: Q1 2026 (2026-05-13)

Value Creation -6.5% Excess Return on Capital (Spread between ROIC/ROE and Cost of Capital)

Cash Flow Payback — Estimated years of operating cash flows required to cover Enterprise Value

Performance & Distributions

Dividend Yield Trailing annual dividends paid relative to share price

—

Sustainable Growth Rate Rate at which company can grow internally using reinvested profits

+9.5%

Payout Ratio Percent of net profits distributed as dividends

—

Net Margin Net profit margin generated from total operational revenue

11.0%

ROE Return on Equity

2.2%

Market Pricing Multiples

P/E Ratio Market value compared to corporate net earnings

68.2x

P/B Ratio Market capitalization compared to corporate book value

1.5x

Combined Ratio Operating multiple reflecting core operational leverage

95.1%

Loss Ratio Asset pricing multiple relative to total topline revenue

—

Growth Story

CHUBB's top-line performance is characterized by an Insurance Revenue (TTM) of SAR 399M, contrasted with a Gross Written Premium (GWP) of SAR 141M, reflecting its specific reinsurance and risk-sharing structures. The company's sustainable growth rate stands at 9.49%, supported by a sustainable ROE of 1.11%. This indicates a highly conservative growth trajectory where market penetration is balanced against capital preservation, rather than pursuing rapid market-share acquisition at the expense of underwriting quality.

Profitability Dynamics

On the profitability front, CHUBB demonstrates solid underwriting discipline with a Combined Ratio of 95.07%, indicating that its core insurance operations are technically profitable. However, this operational efficiency does not fully translate into high shareholder returns, as the Return on Equity (ROE) stands at a modest 2.23%. This return falls significantly short of its estimated Cost of Equity (Ke) of 8.70%, which is derived with a Beta of 1.0038. The low ROE is partly a function of a very strong equity base of SAR 478M relative to its net income of SAR 11M, meaning that while underwriting is profitable, the capital is underutilized from a pure return perspective, even with investment assets of SAR 265M contributing to the bottom line.

Risk & Capital Structure

Beta Systematic market risk indicator relative to the TASI index

1.00

Cost of Equity Minimum required rate of return demanded by shareholders

8.7%

Combined Ratio Underwriting cost efficiency margin (Claims + Expenses) / NEP

95.1%

Loss Ratio Net claims incurred relative to net earned premiums

—

Expense Ratio Acquisition and general admin costs relative to net earned premiums

—

Retention Ratio Proportion of gross written premium retained by company

63.5%

Risk Factors

From a risk and solvency perspective, CHUBB presents an exceptionally low-risk profile. With Total Equity of SAR 478M supporting Total Assets of SAR 752M, the company maintains a massive capital cushion. Insurance Contract Liabilities stand at SAR 215M, which is comfortably covered by its equity and investment portfolio of SAR 265M. This capital structure ensures robust compliance with SAMA's solvency requirements and provides a strong buffer against underwriting shocks, though it highlights a highly conservative capital allocation strategy that limits financial leverage.

In-Depth Analysis

Research Report

Read our independent analysis →

Explore CHUBB's Full Profile

Usool Research tracks CHUBB's financials, governance disclosures, valuation metrics, and more. Structured and updated from every filing.

Start Exploring → Sign up free and explore the data.