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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.
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Chubb appoints Seth Gillston as Executive Vice President, Head of North America Industry Practices, to drive overall strategy for industry-focused initiatives and advance insurance solutions for clients. Gillston has 28 years of industry experience and will partner with various Industry Practice Leaders to strengthen Chubb's offerings across different market segments.
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Chubb Limited (CB) reported record net income and core operating income for the quarter ended December 31, 2023, with net income at $3.30 billion and core operating income at $3.41 billion, up 151.7% and 103.6% respectively. For the full year, net income was $9.03 billion and core operating income was $9.34 billion, up 72.1% and 45.2% respectively. Chubb's annualized return on equity (ROE) was 23.6% and core operating ROE was 21.9%. Annualized core operating return on tangible equity (ROTE) was 35.3%. Excluding the tax benefit, ROE, core operating ROE, and core operating ROTE were 15.6%, 14.7%, and 23.9% respectively.
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StreamLabs, Inc., a Chubb company, has launched Scout, a new early warning system that alerts homeowners, tenants, and commercial property managers to signs of a water leak, helping to prevent damage before it occurs. The new point-of-leak sensor is small, easy to install, and can be used independently or as part of a StreamLabs leak detection system. Scout sends real-time alerts for water presence, fluctuating temperature, and humidity levels, and is compatible with the StreamLabs' Control, which can automatically turn off water if a leak or freeze conditions are detected. The product is available in one, three, or five packs and qualifies for a premium credit on many carriers' insurance policies.
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Chubb Limited (NYSE: CB) will hold its fourth quarter earnings conference call on Wednesday, January 31, 2024, at 8:30 a.m. Eastern. The company expects to issue its fourth quarter earnings release and financial supplement after the market closes on Tuesday, January 30, 2024. These documents will be available on the company's investor website at investors.chubb.com.
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Chubb (CB): Survey Reveals Wealthy Americans and Canadians Concerned About Climate-Related Property Damage
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Chubb (CB) appoints Federico Spagnoli as Division President, Consumer Lines for Overseas General Insurance, focusing on optimizing full strength of Chubb's consumer insurance offering across international markets. Spagnoli brings over 20 years of insurance experience and will have responsibility for Chubb's consumer lines in 51 countries and territories, comprising personal property and casualty insurance products, personal accident, supplemental health, and travel insurance.
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AM Best affirms the Financial Strength Rating of A++ and Long-Term Issuer Credit Ratings of 'aa+' for Chubb Limited (NYSE: CB) and its subsidiaries. The outlook for these Credit Ratings is stable, reflecting the balance sheet strength, very strong operating performance, and favorable business profile of the company.
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Chubb (CB) Announces 48 Agents Earn Certified Advisor of Personal Insurance Designation
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Chubb (CB) collaborates with NetSPI to enhance cyber-risk profile for policyholders with proactive security solutions
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Chubb Limited (NYSE: CB) Declares $0.86 Quarterly Dividend, Third Installment for 2023
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FAQ
What is the current stock price of Chubb (CB)?
The current stock price of Chubb (CB) is $285.21 as of November 22, 2024.
What is the market cap of Chubb (CB)?
The market cap of Chubb (CB) is approximately 113.1B.
What does Chubb Limited do?
Chubb Limited provides a comprehensive range of insurance products including property and casualty, accident and health, reinsurance, and life insurance.
Where is Chubb Limited headquartered?
Chubb Limited is incorporated in Zürich, Switzerland, with executive offices in Zurich, New York, London, Paris, and other major cities.
When did ACE acquire Chubb?
ACE acquired Chubb in the first quarter of 2016 and subsequently adopted the Chubb name.
How many countries does Chubb operate in?
Chubb operates in 54 countries and territories worldwide.
What are Chubb's recent financial highlights?
In the first quarter of 2024, Chubb reported a net income of $2.14 billion and core operating income of $2.22 billion.
What innovative products has Chubb introduced recently?
Chubb introduced the StreamLabs Scout, a smart water leak detection system, to help prevent property damage.
What is Chubb's recent acquisition in the pet insurance market?
Chubb recently acquired Healthy Paws, a U.S.-based managing general agent specializing in pet insurance.
Where can I find Chubb's latest financial results?
Chubb's latest financial results and supplements are available on the company's investor website at investors.chubb.com.
How many people does Chubb employ?
Chubb employs approximately 40,000 people worldwide.
Is Chubb a component of any major stock indices?
Yes, Chubb is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index.
Chubb Limited
NYSE:CB
CB Rankings
CB Stock Data
113.10B
373.58M
7.32%
84.33%
0.85%
Insurance - Property & Casualty
Fire, Marine & Casualty Insurance
United States of America
ZURICH