Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Chubb Limited (CB) Halal?

FAIL

Chubb Limited · NYSE: CB · Financials

The short answer

No — Chubb Limited (CB) fails this Shariah stock screen at the business-activity gate and the non-compliant income gate. Per its own Q2 2026 10-Q, Chubb is a global insurance and reinsurance organization with six insurance segments — conventional insurance is a non-compliant business activity under the AAOIFI-style business screen (the same basis as the Progressive fail on October 1, 2026). Its disclosed net investment income of $3,469M for the six months ended June 30, 2026 is about 11.34% of its $30,589M in total revenue, above the 5% non-compliant income ceiling (FY2025 showed the same pattern at 10.88%). Its debt screen passes: $18,542M of interest-bearing debt is about 14.58% of its ~$127.2B market cap ($329.75, October 2, 2026), below the ~33% ceiling. Zoya flags CB as not Shariah-compliant and Musaffa rates it not halal (October 2026); a ShariaPortfolio CB page exists but its rating could not be verified — honestly reported, not invented.

Gate 1 — Business activity: FAIL

Chubb Limited (NYSE: CB), headquartered in Zurich, Switzerland, describes itself in its Q2 2026 10-Q as "a global insurance and reinsurance organization" with $281B of total assets and $75B of shareholders' equity. It reports six segments, all of them insurance: North America Commercial P&C Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance. Business screen (factual, from the filing): Chubb's core business is underwriting conventional insurance and reinsurance — per the AAOIFI-style business screen applied on this site, conventional insurance is a non-compliant business activity, the same basis on which Progressive (NYSE: PGR) failed Gate 1 in the October 1, 2026 screen. Gate 1 fails. Facts only.

Gate 2 — Debt and cash: PASS

Per Chubb's Q2 2026 10-Q (filed July 28, 2026; balance sheet at June 30, 2026), interest-bearing debt was $18,542M — short-term debt $663M, long-term debt $17,452M, and hybrid debt $427M (trust preferred securities $309M plus subordinated debt $118M). Unpaid losses, loss expenses and unearned premiums are insurance operating liabilities and are not counted as debt. Against a market cap of about $127.2B ($329.75 on October 2, 2026; 385,634,049 shares outstanding), debt divided by market cap is about 14.58%, comfortably below the ~33% ceiling. Cash (including restricted cash) of $2,753M is about 2.16% of market cap, or about 6.46% including $5,458M of short-term investments. Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: FAIL

Chubb's Q2 2026 10-Q income statement reports net investment income of $3,469M for the six months ended June 30, 2026 against total revenues of $30,589M — about 11.34% of revenue, more than double the 5% non-compliant income ceiling. For an insurer, net investment income (interest and dividends on the investment portfolio backing its policies) is the separately disclosed interest-type income line. The FY2025 10-K shows the same pattern ($6,465M against $59,402M, about 10.88%). Gate 3 fails. Facts only.

Key figures used

Frequently asked questions

What does Chubb do?

Chubb Limited (NYSE: CB), headquartered in Zurich, Switzerland, describes itself in its Q2 2026 10-Q as "a global insurance and reinsurance organization." It reports six segments, all insurance: North America Commercial P&C Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance. At June 30, 2026 it held $281B in total assets and $75B of Chubb shareholders' equity, and it operates in approximately 50 countries and territories. It was formerly ACE Limited and adopted the Chubb name in 2016.

Why does Chubb fail this Shariah stock screen?

Chubb fails this screen at the first gate — the business-activity gate — and again at the non-compliant income gate. Per its own Q2 2026 10-Q, Chubb is a global insurance and reinsurance organization; under the AAOIFI-style business screen applied on this site, conventional insurance is a non-compliant business activity — the same basis on which Progressive (NYSE: PGR) failed Gate 1 in the October 1, 2026 screen. Its financial picture also trips Gate 3: net investment income of $3,469M against total revenues of $30,589M for the six months ended June 30, 2026 is about 11.34% of revenue, above the 5% non-compliant income ceiling. This is a factual screen, not a religious ruling — consult a qualified scholar for personal rulings.

What is Chubb's interest-bearing debt ratio?

Per Chubb's Q2 2026 10-Q (filed July 28, 2026; balance sheet at June 30, 2026), interest-bearing debt was $18,542M — short-term debt $663M, long-term debt $17,452M, and hybrid debt $427M (trust preferred securities $309M plus subordinated debt $118M). Loss reserves and unearned premiums are insurance operating liabilities and are not counted as debt. Against a market cap of about $127.2B ($329.75 on October 2, 2026; 385,634,049 shares outstanding), debt divided by market cap is about 14.58% — comfortably below the ~33% ceiling. Cash (including restricted cash) of $2,753M is about 2.16% of market cap, or about 6.46% including $5,458M of short-term investments.

What is Chubb's non-compliant income ratio?

Chubb's Q2 2026 10-Q income statement reports net investment income of $3,469M for the six months ended June 30, 2026, against total revenues of $30,589M — about 11.34% of revenue, more than double the 5% non-compliant income ceiling. For an insurer, net investment income (interest and dividends earned on the investment portfolio that backs its policies) is the disclosed interest-type income line, and it is separately stated in the filing. The full-year 2025 10-K shows the same pattern: $6,465M of net investment income against $59,402M of revenue, about 10.88%. Gate 3 fails.

Do Zoya, Musaffa, or ShariaPortfolio cover Chubb?

Zoya covers CB and flags it as not Shariah-compliant (zoya.finance/stocks/cb, accessed October 2026; the page's displayed assessment date was blank) — it does not rate Chubb halal. Musaffa covers CB and classifies it as "not halal" as of October 2026 under its AAOIFI methodology (musaffa.com/stock/CB/). A ShariaPortfolio screener page for CB exists, but its compliance rating could not be confirmed from the retrievable content — reported honestly as unverified, not invented. All three coverage statements are consistent with this page's own FAIL outcome. This page applies the screen directly from Chubb's own filings and reports these positions honestly.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).