Chubb 2025 Wealth Survey: The Resilient Mindset

Cyberattacks, Generational Wealth Transfer, and Inflation Top Concerns of Affluent North Americans

• Cybersecurity ranks as the number one risk, with cyberbullying and identity theft named biggest concerns
• Nearly half of respondents lack a will, 74% have no estate plan
• Economic confidence fuels surge in luxury travel and collections spending plans; fine art and timepieces most coveted; millennials prefer sports memorabilia and luxury handbags

NEW YORK, Dec. 3, 2025 /PRNewswire/ -- Chubb today released the findings of its 2025 wealth survey, "The Resilient Mindset: Turning Risk Awareness into Advantage," revealing optimism tempered by critical vulnerabilities among high-net-worth North Americans, most reporting assets over $5 million. As affluent families stand on the brink of the largest generational wealth transfer in history, the report highlights how wealthy North Americans are turning risk awareness into an advantage through strategic planning and partnerships.

Key Findings: Optimism, Uncertainty, Critical Gaps

• High Confidence in Economic Growth
  • 79% believe the economy will grow over the next 12 months, and 67% say there are more opportunities to build wealth now than ever before, but this optimism is tempered by headwinds, including the risk of investment loss, the potential impact of extreme weather events and worries about economic competitiveness.
• Cybersecurity: The Number One Worry
  • Cybersecurity is named the top issue keeping the affluent up at night, with cyberbullying and identity theft as the biggest concerns.
  • Despite the concern, only 41% have a standalone cyber insurance policy.
  • High net worth families may be prime targets of sophisticated cyberattacks with scams from phishing to social engineering continuing to rise.
• Bequeathing a Collection: Doubts and Uncertainties
  • Sixty-eight percent plan to pass collections to heirs; but 36% of them worry about legacy continuation

The Great Generational Wealth Transfer

Chubb's survey spotlights how affluent families are not only navigating risks to wealth but also the emotional complexities and the financial high stakes of passing on their legacies. This generational tension in estate planning is creating a stark divide between intentions and actions.

Nearly half of affluent respondents say they don't have a will, and 74% don't have an estate plan, including many with assets over $25 million. These figures increase with age and assets but remain alarmingly low, leaving fortunes exposed to uncertainty.

• Just over 1 in 10 plan to sell their collections, with 53% citing financial concerns as the main reason.
• 8% plan to donate, but over half remain uncertain about their decisions.

The report pinpoints how the generational wealth transfer is being shaped and complicated by millennials' distinct interests and preferences in valuables, which often diverge from those of their parents. Millennials are twice as likely to spend on sports memorabilia than older collectors and are also the most likely to spend on luxury handbags.

"We encourage families to initiate candid conversations early on about whether the next generation actually desires the art and what alternatives make sense, such as donating, selling or establishing a foundation," said Laura Doyle, Senior Vice President and Valuable Collections Product Leader, Chubb Personal Risk Services. "Collecting isn't just about acquisitions, it's also about stewardship, succession and foresight. Those who plan early tend to preserve both their art and their family harmony."

Luxury Spending Plans: Travel and Collectibles

High-net-worth individuals and collectors show no signs of curbing their luxury pursuits, with 44% planning to expand their collections, while a mere 9% intend to divest.  Luxury travel is the top spending priority, with more than eight in ten across all age groups gearing up to spend big on domestic and international travel, marking a significant uptick from previous years.

Upcoming Spending Plans

• 93% Domestic travel
• 81% International travel
• 59% Real estate
• 57% Entertainment
• 25% Collections
• 25% Education

Wealth Protection Gaps

Chubb's survey shows that financial success does not guarantee adequate wealth protection.

• 77% of those planning to acquire valuables do not intend to insure them.
• The vast majority of collectors (86%) prefer to do their own research rather than engage an art advisor (32%).
• 81% do not carry excess liability insurance and 78% of those who do, have policies for $3 million or less.

A key takeaway from the survey showed individuals and families who integrate insurance protection and adaptability into their wealth strategies are much better equipped to preserve both their assets and their values.

Extreme Weather: A Threat to Wealth

Extreme weather and climate volatility remain a nearly universal concern for affluent homeowners in the survey.

• 74% say flooding is the greatest extreme weather risk to their wealth.
• A vast majority of collectors believe loss or damage from natural disasters represents the greatest threat to their valuable collections (73%), greater than the risk of loss or damage from fire (69%) or theft (65%).
• Most are adopting a resilient mindset, with 86% making home improvements such as fire-resistant roofing, impact-resistant windows, optimized landscaping for water diversion, and whole-home generators with battery backups.
• 83% are increasing insurance coverage for weather risks they can't control.

Luxury Boating Safety and Liability

While yacht and boat ownership are a top lifestyle priority for affluent families, the report reveals that this passion is often accompanied by significant anxiety.

Nearly all boat owners (94%) are concerned about the qualifications or experience of those operating their vessels, and nearly one-third (32%) admit to being "considerably concerned" about their own ability to ensure that they're piloted safely.

Top Marine Concerns & Risks:

• Mechanical Breakdown: 55%
• Inadequate Insurance Coverage: 48%
• Potential Liability: 46%
• Storm Protection: 43%

"This report exposes a critical liability that too many successful North Americans are still unnecessarily exposed to financial and reputational threats," said Melissa Scheffler, Division President, Chubb North America Personal Risk Services. "Closing this protection gap requires moving beyond simple coverage to a partnership that provides the specialized expertise and foresight necessary for long-term security."

Methodology

The 2025 Chubb Wealth Report is based on research conducted by Beresford Research. Data was gathered from 1,000 respondents across North America between July and September 2025, with participants representing a range of demographics and age groups. All respondents possess investable assets of at least $1,500,000, with the majority of respondents having assets exceeding $5 million.

About Chubb

Chubb is a world leader in insurance. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE:CB) and is a component of the S&P 500 index. Chubb employs approximately 43,000 people worldwide. Additional information can be found at: www.chubb.com.

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SOURCE Chubb