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.
Chubb Limited (NYSE: CB) reported impressive Q2 2021 results, with net income of $2.27 billion or $5.06 per share, and core operating income of $1.62 billion or $3.62 per share. Book value improved to $136.90 per share, boosted by $1.52 billion in after-tax gains. The company achieved a P&C combined ratio of 85.5%, reflecting strong underwriting results and premium growth. Global net premiums written rose 15.5%, driven by a 19.9% increase in commercial P&C. The strong performance was complemented by $2.27 billion returned to shareholders. Chubb remains positive about future growth prospects.
Chubb Limited (NYSE: CB) has announced a new $5 billion share repurchase program, effective until June 30, 2022. This follows an existing authorization allowing $2.5 billion in buybacks, of which $65 million remains. The company emphasizes its commitment to returning capital to shareholders, citing strong confidence in its earnings and growth potential. Share repurchases will be executed at management's discretion, considering market conditions and legal requirements.
Westchester, Chubb's wholesale excess and surplus insurance business, has appointed Thomas McLaughlin as Executive Vice President of its Casualty Practice. He succeeds Dean Andrighetto, who has retired after over 35 years. McLaughlin, previously Senior Vice President and COO at Westchester, brings over 20 years of industry experience. His responsibilities will include overseeing product development, underwriting, and profit and loss. Chubb continues to be a leading player in the excess and surplus lines market, emphasizing innovation and financial strength.
Chubb Limited (NYSE: CB) will conduct its second quarter earnings conference call on July 28, 2021, at 8:30 a.m. Eastern. Earnings release and financial supplement will be issued on July 27, 2021, after market close, available on their investor website.
The conference call will be accessible via a live webcast or by dial-in. A replay will be available until August 11, 2021. Chubb is the largest publicly traded property and casualty insurance company, operating globally with approximately 31,000 employees.
Chubb has released a whitepaper titled "Guarding Against Email Social Engineering Fraud: Re-examining a Global Problem" co-authored with Gordon Rees Scully Mansukhani LLP and PaymentWorks. The paper highlights the increasing sophistication of email fraud schemes, revealing that cyber criminals stole over $28 billion between 2016 and 2020. It recommends a zero-trust approach for businesses, focusing on upgraded technology and revised processes to combat these threats. Key prevention strategies include Multi-Factor Authentication and verifying vendor information through secure platforms.
On June 8, 2021, Chubb Limited (NYSE: CB) announced Mark Hammond's appointment as Deputy Chief Financial Officer, effective July 1. Hammond, currently serving as Treasurer, will support incoming CFO Peter Enns following Philip Bancroft's retirement. With over 30 years in insurance and a proven track record in finance, Hammond aims to strengthen Chubb's global finance operations. His extensive experience includes leadership roles in both the U.S. and international finance sectors and a background in public accounting as a CPA.
Chubb has launched the Benchmarq Package, an innovative insurance product tailored for the lower middle market. Designed to provide comprehensive coverage, Benchmarq offers enhanced property and liability protections, addressing gaps often overlooked by traditional policies. This scalable solution can be customized to meet the evolving needs of clients across various sectors, including education, manufacturing, and technology. Available in 29 states, Benchmarq will also be featured on the Chubb Marketplace this Fall. This initiative enhances Chubb's presence in a growing market segment.
Chubb launched a new advisory series titled Global Risk Spotlights aimed at U.S. multinational companies, focusing on insurance exposures and compliance. The advisories address critical global risks and best practices for insurance management. Key topics include DIC/DIL clauses, local D&O policies, global accident and health insurance opportunities, and multinational casualty protection. Chubb emphasizes its long-standing experience in multinational insurance, having issued over 67,000 local policies and managed more than 37,000 claims in 2020. The advisories aim to enhance clients' understanding of evolving risk environments.
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