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 (NYSE: CB) is a premier American insurance company incorporated in Zürich, Switzerland. As the parent company of Chubb, it stands as the largest publicly traded property and casualty insurer globally. Chubb provides a wide range of insurance products covering property and casualty, accident and health, reinsurance, and life insurance. With operations in 54 countries, Chubb serves diverse clients, from individuals and families to businesses of all sizes. The company, known for its underwriting expertise, assesses, assumes, and manages risk with insight and discipline, ensuring claim services that are fair and prompt.
In 2016, ACE acquired Chubb and adopted the Chubb name, creating a powerhouse in the insurance industry. This strategic merger expanded Chubb's capabilities across commercial and personal P&C insurance, reinsurance, and life insurance, significantly boosting its footprint worldwide.
Recent Achievements and Projects:
- Financial Performance: In the first quarter of 2024, Chubb reported a net income of $2.14 billion and core operating income of $2.22 billion, reflecting strong underwriting income and investment returns.
- Technological Innovation: Chubb continues to innovate with new products like the StreamLabs Scout, a smart water leak detection system that helps prevent property damage.
- Expansion: Chubb recently acquired Healthy Paws, a pet insurance MGA, aiming to penetrate the growing pet insurance market further.
- Strategic Partnerships: Chubb's collaboration with the National Center for the Middle Market highlights its proactive approach to addressing risks in the middle market sector.
Investment Initiatives:
- Chubb continues to invest in its portfolio, including a recent issuance of $1 billion in senior notes, slated for general corporate purposes and debt repayment.
With around 40,000 employees globally, Chubb maintains executive offices in Zurich, New York, London, Paris, and other major financial hubs, underscoring its robust global presence. The company's financial strength is exemplified by its inclusion in the S&P 500 index. For investors and clients alike, Chubb represents stability, innovation, and a commitment to operational excellence.
AM Best has affirmed that the Credit Ratings of Chubb Limited (NYSE: CB) and its subsidiaries remain stable after their agreement to acquire Cigna Corporation’s life and non-life insurance operations in seven Asia-Pacific markets for
Cigna Corporation (NYSE: CI) has entered a definitive agreement with Chubb (NYSE: CB) to divest its life, accident, and supplemental benefits businesses in seven countries for $5.75 billion. The transaction, expected to close in 2022, will allow Cigna to focus on its global health services portfolio. After the sale, Cigna anticipates approximately $5.4 billion in net after-tax proceeds, primarily for share repurchases. The sale will slightly dilute Cigna's earnings per share in 2022.
Chubb has appointed Kevin Rampe as Head of North America Claims, succeeding Bill Hazelton, who will focus on strategic initiatives. Rampe, formerly the Global Deputy General Counsel, will oversee all claims for commercial and personal lines, enhancing client satisfaction and providing insights to underwriters and agents.
Hazelton, now an Executive Vice President, will report on key initiatives to improve operations. Chubb is the largest publicly traded property and casualty insurance company globally, operating in 54 countries and listed on the NYSE under the ticker CB.
Chubb has appointed Peter Tucker as Executive Vice President, National Distribution, enhancing alignment with key brokerage and agency partners amid industry consolidation. Reporting to Chris Maleno, Tucker brings nearly 40 years of industry experience to his new role. Amy Feller succeeds him as Regional Executive Officer for the New York Region, overseeing underwriting, sales strategies, and personnel management. This leadership transition aims to streamline operations and improve efficiencies for distribution partners, ultimately benefiting policyholders.
Chubb Limited (NYSE: CB) has announced its third quarter earnings conference call scheduled for October 27, 2021, at 8:30 a.m. Eastern. The earnings release will be available post-market on October 26. Interested parties can access the call via live webcast or by dialing designated numbers. A replay will be available until November 10, 2021. As the largest publicly traded property and casualty insurance company, Chubb operates in 54 countries, serving various clients with an extensive range of insurance products. For detailed information, visit investors.chubb.com.
USAA Insurance Agency has partnered with Blink by Chubb to offer personal cyber insurance to its members. This policy covers expenses from identity theft, fraud, cyberbullying, and ransomware. USAA members over 18 can purchase policies ranging from $10,000 to $50,000 through the USAA portal. The partnership aims to enhance cyber protection awareness within the military community, reflecting Chubb's commitment to serving those who have served in the Armed Forces. This collaboration provides USAA members a new avenue for financial security in an increasingly digital world.
Chubb has appointed Richard Barnett as Executive Vice President, head of North America Construction Surety. He will oversee the underwriting and strategy for construction surety products. Barnett, with nearly 40 years of experience, including 35 at Chubb, previously served as Surety Director of Engineering and Construction. His leadership is expected to enhance Chubb's ability to provide surety capacity to support various projects. Chubb is the fifth-largest surety underwriter in the U.S., serving over 70 top contractors.
Chubb has announced two key leadership appointments in its North America Property business and Westchester division. Matt Booker is now Executive Vice President of Westchester Property and Inland Marine, focusing on strategic direction and underwriting. Bob Meyer, previously in charge of Westchester, is appointed Executive Vice President of North America Property, responsible for employee training and strategic planning. Both leaders bring extensive experience, aiming to enhance Chubb's growth and service to distribution partners and policyholders.
The Board of Directors of Chubb Limited (NYSE: CB) declared a quarterly dividend of $0.80 per share. This dividend will be payable on October 8, 2021 to shareholders of record as of September 17, 2021. It represents the second installment authorized by shareholders on May 20, 2021. The payment will be made in U.S. dollars from legal reserves, ensuring that shareholders receive their returns promptly.
FAQ
What is the current stock price of Chubb (CB)?
What is the market cap of Chubb (CB)?
What does Chubb Limited do?
Where is Chubb Limited headquartered?
When did ACE acquire Chubb?
How many countries does Chubb operate in?
What are Chubb's recent financial highlights?
What innovative products has Chubb introduced recently?
What is Chubb's recent acquisition in the pet insurance market?
Where can I find Chubb's latest financial results?
How many people does Chubb employ?
Is Chubb a component of any major stock indices?
