Chubb is one of the largest P&C insurers in the world, operating across 54 countries. The company underwrites insurance risk for both commercial and consumer customers, collects premiums, and pays claims. Commercial customers range from small businesses to large multinationals, buying coverage across property, general liability, workers' compensation, professional liability, cyber, marine, aviation, and specialty lines — almost entirely through brokers and agents. Consumer customers in North America are primarily affluent and high-net-worth individuals buying homeowners, auto, valuable articles, and umbrella coverage through Chubb's Personal Risk Services division. Internationally, Chubb sells a broader consumer product set including A&H, auto, and travel insurance through agents, bancassurance partnerships, and digital platforms. Chubb also runs a meaningful life insurance business concentrated in Asia, and a smaller reinsurance segment. Chubb earns from three sources: P&C underwriting income, net investment income from its ~$169B invested asset base, and life segment income. The investment portfolio is predominantly investment-grade fixed income, generating roughly $7B annually. Growth priorities include middle-market and small commercial globally, international consumer lines in Asia and Latin America, and continued expansion of high-net-worth personal lines in North America. Chubb is also investing ~$1.1-1.2B annually in technology, targeting meaningful expense ratio improvement over the next several years from digital transformation initiatives.