Chubb Issues Statement in Response to The Hartford
Chubb Limited (NYSE: CB) issued a statement addressing The Hartford's recent refusal to discuss a strategic business combination. Chubb emphasized its strong underwriting performance and confidence in leveraging favorable commercial insurance market conditions. The company remains committed to delivering value for shareholders and maintaining disciplined acquisition practices focused on fair value. Chubb, the world's largest publicly traded property and casualty insurer, operates in 54 countries and is known for its extensive range of insurance products and services.
- Strong underwriting performance and industry-leading returns.
- Confidence in capitalizing on favorable market conditions.
- Commitment to delivering significant shareholder value.
- Disappointment over The Hartford's refusal to engage in discussions.
NEW YORK, March 29, 2021 /PRNewswire/ -- Chubb Limited (NYSE: CB) today issued the following statement in response to the recent statement from The Hartford:
As demonstrated by our industry-leading returns and underwriting performance, we have created an unsurpassed franchise in the insurance industry and its most dynamic markets. We continue to have great confidence in our ability to capitalize on favorable commercial insurance market conditions. Our organization is totally focused, and we remain firmly committed to delivering significant value for our shareholders.
Although we were disappointed that The Hartford chose not to engage in discussions regarding a strategic business combination, our shareholders demand of us, and we demand of ourselves, that we remain a disciplined acquiror with an uncompromising focus on the fair value of any institution that we could acquire.
About Chubb
Chubb is the world's largest publicly traded property and casualty insurance company. 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. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also 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 maintains executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: www.chubb.com.
Cautionary Statement Regarding Forward-Looking Statements:
Forward-looking statements made in this press release, such as statements relating to the benefits of a potential business combination transaction on constituents of Chubb and The Hartford, market conditions and our expectations and intentions and other statements that are not historical facts, reflect the company's current views with respect to future events and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, including those set forth above, which may cause actual results to differ materially from these statements. Additional information regarding factors that could cause differences from these forward-looking statements appears in the company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
View original content to download multimedia:http://www.prnewswire.com/news-releases/chubb-issues-statement-in-response-to-the-hartford-301257187.html
SOURCE Chubb Limited
FAQ
What is the recent statement from Chubb Limited regarding The Hartford?
How does Chubb Limited describe its market position?
What is Chubb Limited's focus regarding acquisitions?
Where is Chubb Limited headquartered?
What is the stock symbol for Chubb Limited?
