Chubb Insurance Malaysia Bhd has taken steps to enter the public markets by submitting a listing application to Bursa Malaysia. The proposed offering involves the sale of 300 million shares, which represents a 30% stake in the firm.
According to Reuters, the entire transaction takes the form of an offer for sale orchestrated by Chubb INA International Holdings, the entity that currently holds full ownership of Chubb Insurance Malaysia. The filing included a draft prospectus outlining the transaction structure.
The planned sale carves out the stake into two segments designed to reach different investor categories. Institutional allocations account for 249.55 million of the shares being offered, while the remaining 50.45 million shares have been earmarked for individual investors. Maybank Investment Bank has secured key roles in the transaction, operating as principal adviser, sole bookrunner and underwriter.
The transaction will transfer all financial benefits to Chubb INA International Holdings. The draft prospectus submission did not disclose estimated pricing or an anticipated launch window for the public offering. The Malaysia-based entity provides coverage across motor vehicles, buildings and structures, and personal accident categories.
Chubb Ltd, the parent company, released third-quarter financial data that contextualises the Malaysia subsidiary’s IPO timing. The holding company generated US$2.80 billion in net income during the three months concluding Sept. 30, 2025, alongside core operating income of US$3 billion. These results extended momentum from the prior quarter, with net income climbing 20.5% and core operating income expanding 28.7% relative to year-earlier figures.
The company’s equity position strengthened, as book value registered a 4.7% gain to reach US$182.22 per share. Tangible book value appreciated 6.6% to US$120.13. Investment portfolio activity contributed US$884 million in after-tax gains, encompassing both realised and unrealised increases in value.
Property and casualty operations generated US$12.93 billion in net premiums during the quarter, marking a 5.3% increase from the comparable 2024 period. Domestic operations in North America saw P&C premiums climb 4.4%, with personal lines advancing 8.1% and commercial lines increasing 3.5%. International divisions posted a 9.7% increase in P&C premiums, driven by consumer insurance expansion of 15.5% and commercial insurance growth of 5.8%. Performance varied by region, with Asia experiencing 14.3% growth, Latin America recording 10.6% expansion, and Europe achieving 4.8% growth.
P&C underwriting produced US$2.26 billion in income during the quarter, a substantial 55.0% increase year-over-year, with a combined ratio reaching 81.8%. When catastrophe-related claims are excluded, current-year underwriting income totalled US$2.18 billion with a 10.3% increase and an 82.5% combined ratio.
Natural disaster-related losses amounted to US$285 million pre-tax, compared to US$765 million during the third quarter of 2024. The company benefited from US$361 million in favourable adjustments related to prior-period loss reserves.
Life insurance operations delivered US$1.93 billion in net premiums, reflecting 24.6% growth, and generated segment income of US$324 million, up 14.2%. Investment operations generated US$1.65 billion in pre-tax net income, increasing 9.3%, and US$1.78 billion in adjusted net investment income, up 8.3%.
Annualised return on equity stood at 15.9%, while annualised core operating return on tangible equity measured 24.5%. Cash generated from operations reached US$3.64 billion, with adjusted figures reaching US$4.51 billion.
