9 Stocks Warren Buffett Has Bought Since Beginning of AI Revolution

3. Chubb Limited (NYSE:CB)

Number of Hedge Fund Holders: 53  

Berkshire Hathaway’s Shares in Q1 2024: 25,923,840

Chubb Limited (NYSE:CB) is a Switzerland-based insurance firm. The firm recently posted earnings for the second quarter of 2024, reporting adjusted earnings per share of $5.38, easily beating consensus estimates by $0.23. The revenue over the period was $12.3 billion, up more than 12% compared to the revenue over the same period last year. Operating earnings during the second quarter were up nearly 10%. These results showcase why the shares of the firm have jumped up over 30% in the past twelve months. Despite catastrophe losses, the stock has strong underlying profitability numbers.

Another important indicator of the health of Chubb Limited (NYSE:CB) stock is the climbing premiums. In the second quarter of 2023, the firm reported that property and casualty net premiums rose by over 10% to $11.8 billion. In North America, P&C premiums rose by 7.1% while overseas, the firm grew premiums by 15.6%. The firm also has room to grow net interest income in the next few months as it reinvests securities bought when interest rates were lower than they are at the present.