Welcome to our dedicated page for Chubb news (Ticker: CB), a resource for investors and traders seeking the latest updates and insights on Chubb stock.
Chubb Limited (CB) is a global leader in insurance underwriting and risk management solutions, serving clients across 54 countries. This dedicated news hub provides investors and industry professionals with timely updates on corporate developments, financial performance, and strategic initiatives.
Access the latest press releases, earnings announcements, and market insights to stay informed about Chubb’s operations in commercial insurance, reinsurance, and specialty risk coverage. Our curated collection prioritizes official statements and verified updates, offering a comprehensive view of the company’s position in the insurance sector.
Key content categories include quarterly financial results, leadership changes, product innovations, regulatory compliance updates, and strategic partnerships. All materials are organized chronologically to help users track evolving market dynamics affecting Chubb’s diverse business segments.
Bookmark this page for streamlined access to Chubb Limited’s most critical updates. Combine these resources with broader market analysis to inform your understanding of the company’s operational resilience and growth trajectory in the global insurance landscape.
Chubb Limited (NYSE: CB) reported a fourth quarter net income of $1.31 billion and core operating income of $1.70 billion, reflecting a 3% increase year-over-year. The full-year net income was $5.31 billion, down 37.8% from 2021, but core operating income rose to a record $6.46 billion, up 15.9%. Consolidated net premiums written increased 10.3% to $41.8 billion, with P&C net premiums rising 7.7%. The P&C combined ratio improved to 87.6% from 89.1% the previous year, highlighting strong underwriting performance despite challenges. Key metrics like adjusted net investment income also reached record levels, boosting shareholder confidence.
Chubb Limited (NYSE: CB) is scheduled to hold its fourth quarter earnings conference call on February 1, 2023, at 8:30 a.m. Eastern. The company will release its earnings report and financial supplement after market close on January 31, 2023, accessible on its investor website. The conference call will be available via live webcast or by dialing 877-400-4403 in the U.S. A replay will be accessible post-call.
Chubb has announced four key executive promotions in its North America Financial Lines Division to improve underwriting and digital services. Jarrod Schlesinger becomes COO, overseeing operational strategies for management and professional liability products. Scott Williams is now EVP and Chief Underwriting Officer, focusing on private/not-for-profit underwriting. Jennifer Riley takes charge of digital strategy, enhancing automation in financial lines. Alissa Theberge leads Learning & Development to advance underwriting programs. These changes aim to strengthen Chubb's market position and enhance customer experience.
Chubb has appointed Teresa Black as the new Executive Vice President and Chief Operating Officer of North America Surety, responsible for underwriting, strategy, and growth in this segment. Previously serving as Executive Vice President, Commercial Surety, Black has over 25 years of experience in the insurance sector. Chubb, recognized as the fifth largest surety underwriter in the U.S., provides a variety of surety products and global bond issuance capabilities. This leadership change aims to drive continued growth in the North America Surety business.
Chubb has announced plans to construct a new Philadelphia office, creating at least 1,250 new jobs. This development, located at 2000 Arch Street, will span 438,000 rentable square feet and adhere to high sustainability standards. With construction set for February 2023, the project will support a total of 3,200 jobs in Pennsylvania over the next five years. Governor Wolf has pledged $10 million for development costs through the Redevelopment Assistance Capital Program, highlighting Chubb's significant economic impact in the region.
Chubb has appointed Michael Mollica as the new Division President for its North America Financial Lines business. Previously the Executive Vice President overseeing Private/Not-For-Profit sectors, Mollica will now manage various liability lines, including D&O coverages and cyber products. His experience spans over 20 years in insurance, with notable leadership roles at Chubb since 2008. The appointment, effective immediately, comes as he succeeds Steve Goldman who has departed from the company. The decision signals a strategic move to bolster Chubb's position in the financial lines market.
AM Best has affirmed the Financial Strength and Long-Term Issuer Credit Ratings of Chubb Limited's subsidiaries, including the Chubb US Group, Chubb Bermuda, and Chubb Tempest Re, maintaining high ratings of A++ and aa+. These ratings reflect strong balance sheet strength and operating performance, despite challenges from high catastrophe losses and inflationary trends. The outlook remains stable. Chubb US Group's performance remains robust with strong underwriting results, while Chubb Bermuda benefits from implicit support from Chubb Limited. The group expects improved capital retention in 2023.
Chubb has appointed Lyndsey Christofer as the new Real Estate & Hospitality (REH) Industry Practice Leader. She will lead Chubb's strategic direction for REH, overseeing underwriting, risk consulting, and claims. Christofer retains her role as Executive Vice President, Construction Industry Practice Leader. She succeeds Bill Hazelton, now heading North American Industry Practices. Christofer has nearly 20 years of experience and joined Chubb in 2013. This leadership change aims to enhance tailored solutions for Chubb's REH clients across North America.
