Chubb Limited Announces Increase to its Share Repurchase Program
Chubb Limited (NYSE: CB) has authorized a $1 billion increase to its share repurchase program, bringing the total authorized repurchases for 2021 to $2.5 billion. The initial authorization was announced on November 19, 2020. Share repurchases will be executed at management's discretion, based on market conditions and the company's capital management strategy. This move aims to enhance shareholder value by reducing the number of shares outstanding, thereby potentially increasing earnings per share (EPS).
- Authorized share repurchase increased by $1 billion, boosting total to $2.5 billion.
- Share buyback expected to enhance shareholder value through reduced shares outstanding.
- None.
ZURICH, Feb. 3, 2021 /PRNewswire/ -- Chubb Limited (NYSE: CB) announced that its Board of Directors has authorized an increase of
Share repurchases, which are subject to market conditions, other business considerations and applicable legal requirements, may be made in the open market, in privately negotiated transactions, block trades, accelerated repurchases or through option or other forward transactions.
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 regarding share repurchases, 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, which may cause actual results to differ materially from those set forth in 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-limited-announces-increase-to-its-share-repurchase-program-301221604.html
SOURCE Chubb Limited
FAQ
What is the new total for Chubb's share repurchase program?
When was the increase to the share repurchase program announced?
How does the share repurchase affect Chubb's stock price?
Under what conditions will Chubb execute the share repurchases?
