CB
Chubb Limited
Is CB Halal?
Global conventional insurance and reinsurance company; conventional insurance involves gharar, maysir and riba under many Islamic-law analyses, and the current contextual liquidity and income checks fail.
What You Should Know
Chubb's March 31, 2026 Form 10-Q reports $275,456 million of total assets, $17,470 million of financial debt, $2,634 million of cash, $128,500 million of fixed maturities plus short-term investments, $17,101 million of insurance and reinsurance balances receivable, $14,773 million of total revenue, and $1,709 million of net investment income. ZakatInvest's current contextual calculations are debt/assets 6.34%, liquidity 47.61%, receivables plus cash/assets 7.16%, and net investment income/revenue 11.57%. Conventional insurance and reinsurance remain the core qualitative disqualifiers; this is a current ZakatInvest calculation, not an index-membership claim.
⚠️ Concerns
- •Conventional insurance and reinsurance involve gharar (excessive uncertainty), maysir (gambling-like element), and riba (interest) under many Islamic-law analyses
- •The investment portfolio is primarily fixed maturities and short-term investments that generate interest income
- •The contextual liquidity ratio is 47.61% of total assets, above the examined 33.33% limit
- •Net investment income is 11.57% of reported revenue, above a 5% income benchmark
- •Chubb's six insurance segments include commercial P&C, personal P&C, agriculture, overseas general, global reinsurance and life insurance
- •Private credit, distressed and financial private-equity investments require separate qualitative diligence
- •Muslim investors seeking insurance-style protection should study takaful and retakaful providers, which use cooperative mutual-protection structures
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-13.
17,470 / 275,456
131,134 / 275,456
19,735 / 275,456
1,709 / 14,773
- Financial
- Fails
- Overall
- Fails
Debt/assets is 6.34%, liquidity using cash plus fixed maturities and short-term investments is 47.61%, receivables plus cash/assets is 7.16%, and net investment income/revenue is 11.57%; the liquidity and income checks fail the examined limits. Conventional insurance remains the primary qualitative disqualifier.
- Financial
- Fails
- Overall
- Fails
The contextual liquidity ratio is 47.61% of total assets and exceeds the examined limit. This is a reproducible calculation against the named method, not an index-membership claim.
- Financial
- Fails
- Overall
- Fails
The contextual liquidity ratio is 47.61% of total assets and net investment income is 11.57% of revenue; the conventional-insurance activity is not a minority business. This is not an official classification of a U.S.-listed security.
- Financial
- Not calculated
- Overall
- Not calculated
A properly licensed and reproducible historical market-cap series is not stored, so these methods are not estimated from a current spot price.
Business-activity disclosure
Chubb operates six conventional insurance and reinsurance segments: North America Commercial P&C, North America Personal P&C, North America Agricultural, Overseas General, Global Reinsurance and Life Insurance. Conventional insurance is the core activity and is qualitatively disqualifying under the retained analysis.
Limitation: The filing discloses premium and investment-income categories but does not provide a universal prohibited-revenue numerator for the gharar and maysir analysis; quantitative ratios are contextual calculations, not a scholar-approved insurance methodology.
Purification
Conventional insurance and reinsurance are the core qualitative disqualifiers; a minority-income purification percentage is not appropriate, and the insurance-company ratios are contextual rather than a universal certification.
Inputs, assumptions and primary sources
- Inputs use Chubb's March 31, 2026 Form 10-Q; amounts are USD millions.
- Total assets are $275,456 million; financial debt is $17,470 million, comprising $1,500 million short-term debt and $15,970 million long-term debt. Hybrid debt and repurchase agreements are retained as qualitative context rather than silently added to the corporate debt input.
- Interest-bearing securities input is $123,433 million of fixed maturities plus $5,067 million of short-term investments. Equity securities, private equities and other investments are not included in this securities proxy.
- Insurance and reinsurance balances receivable of $17,101 million are used as the receivables proxy; reinsurance recoverables are disclosed separately and are not silently double-counted.
- Total revenue is $14,773 million and net investment income is $1,709 million. The filing does not provide a universal prohibited-revenue numerator because conventional insurance and reinsurance are the core business model rather than a minority line item.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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