Chubb introduces Chubb Life Bermuda for direct life cover

US insurer Chubb has introduced Chubb Life Bermuda to offer direct life cover to high-net-worth individuals through local subsidiary Chubb Tempest Life Reinsurance.

The range covers life protection, savings and investment-linked products.

These are sold through designated distribution channels, in line with applicable laws and regulations, according to the company.

Chubb said the launch forms part of its plan to strengthen its capabilities and widen its offering for private wealth clients.

The move builds on more than four decades of operating experience in Bermuda.

The Bermuda-domiciled subsidiary, wholly owned by Chubb, had more than $17bn in shareholders’ equity and $35bn in total assets on its consolidated balance sheet as of 31 December 2025.

Chubb Bermuda regional chief financial officer Chris Wiseman said: “As global wealth continues to grow, so does the demand for sophisticated wealth preservation and legacy planning solutions.

“Our expanded offering reflects Chubb’s long-term commitment to the private wealth segment and reinforces our ability to serve clients with complex, multi-jurisdictional needs through tailored, globally connected solutions.” 

In its most recent quarterly results, Chubb posted third-quarter net income of $2.84bn, up 1.5%, while core operating income fell 2.2% to $2.98bn.

Net income per share rose 4.4% to $7.30.

Consolidated net premiums written reached $15.1bn, an increase of 1.9%, with property & casualty and life insurance growing 1.9% and 1.4% respectively.

Over the first nine months, net income rose 12.9% to $8.02bn and core operating income increased 21% to $8.60bn.

On a per-share basis, net income was $20.46, up 16.2%, and core operating income was $21.94, up 24.5%.

In March this year, Chubb was appointed as the preferred insurance provider for Safe Harbour Marinas under an exclusive agreement, giving members at more than 150 marinas access to Chubb’s Masterpiece Select Recreational Marine Insurance.