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 has appointed Annmarie Camp as the new North America Business Development Leader, transitioning from her role as Head of Personal Risk Services in Europe. In her new position, she will oversee the business development team focused on Chubb's commercial lines products in North America. Reporting to COO Rob Poliseno, Camp is set to relocate from London to New York. With over 14 years at Chubb and extensive experience in sales and distribution, she has a proven track record in motivating high-performing teams. This appointment aims to enhance agency leads and strengthen local partnerships, reflecting Chubb's commitment to growth in the North American market.
Chubb Limited (NYSE: CB) is set to host its first quarter earnings conference call on April 26, 2023, at 8:30 a.m. Eastern. The earnings release and financial supplement will be available post-market closing on April 25, 2023. Interested parties can access the call through a live webcast or by phone. Chubb, the world’s largest publicly traded property and casualty insurance company, operates in 54 countries, providing a range of insurance products and services. With approximately 34,000 employees, the company emphasizes risk management and swift claim service.
Chubb Limited (NYSE: CB) has appointed Frances O'Brien as Executive Vice President and Chief Risk Officer, effective April 1, 2023. O'Brien, who has over 40 years in the insurance sector, previously served as Senior Vice President and Deputy Chief Risk Officer. She will oversee Chubb's enterprise risk management and strategies. Sean Ringsted, the current Chief Risk Officer, remains as Chief Digital Business Officer, focusing on expanding the company's digital operations. Both executives report to Evan G. Greenberg, Chairman and CEO. The leadership changes aim to enhance Chubb's risk management and digital capabilities.
Chubb Limited (NYSE: CB) has announced new underwriting criteria for oil and gas extraction projects, emphasizing methane emission reductions and conservation area protections. Effective immediately, Chubb will require clients to implement evidence-based plans to manage methane emissions, including leak detection and repair programs. Moreover, Chubb will not underwrite projects in government-protected conservation areas that do not permit sustainable use. These actions align with Chubb's commitment to balancing energy security with environmental stewardship, reflecting ongoing collaboration with environmental experts.
Chubb has appointed Steven M. Hill as Executive Vice President for the North America Financial Lines division, effective immediately. Hill, a 25-year veteran with over three decades of insurance experience, previously served as Senior Vice President. In his new role, he will develop and execute operational strategies, focusing on management liability products. Michael Mollica, Division President, expressed confidence in Hill's expertise and contributions to the company. Chubb operates in 54 countries and is the world's largest publicly traded property and casualty insurance company, with its parent company listed on the NYSE as CB.
Chubb Tempest Re announced the appointment of Wayne Ashley as Division President of Chubb Tempest Re International, effective April 1, 2023, pending regulatory approval. Ashley, who has been with the company for over 15 years and served as Deputy Head of the international property and casualty reinsurance business, will replace Stephen Roberts, who is retiring at the end of April. Jim Wixtead, Senior Vice President of Chubb Group, expressed confidence in Ashley's leadership experience, highlighting his nearly 30 years in the insurance industry. Chubb Tempest Re operates globally, enhancing its footprint in the reinsurance sector.
Chubb Limited (NYSE: CB) announced an increase in its quarterly dividend for the 30th consecutive year. The proposed annual dividend is $3.44 per share, with quarterly payments of $0.86, up from $0.83. The Board declared a dividend of $0.83 per share, payable on April 10, 2023, to shareholders of record by March 17, 2023. This dividend will be paid from legal reserves in US dollars. The continued dividend increase reflects the company's commitment to returning value to its shareholders.
Chubb (NYSE: CB) launched its new global climate business unit, Chubb Climate+, on Feb. 23, 2023. This unit aims to provide a wide range of insurance products and services supporting businesses transitioning to a low-carbon economy. Chubb also appointed three executives to its leadership team: Maria Guercio as Climate Tech Industry Practice Leader, Melanie Markwick-Day as Natural Resources Head, and Jared Concannon as Head of Climate Tech. The leadership team will leverage Chubb's underwriting and risk engineering expertise to assist clients in managing climate-related risks and enhancing resilience against climate change.
Chubb Workplace Benefits has launched Cancer Advocate Plus, a groundbreaking genetics-based insurance program aimed at early cancer risk detection and management. This program empowers individuals to understand their cancer risks, navigate diagnoses, and receive financial protection through insurance coverage. With early detection critical for survival—91.1% five-year survival rate for early-stage versus 30.6% for late-stage cancers—this offering makes genetic testing accessible to more Americans. Developed in partnership with healthŌme, the program includes personalized action plans, expert medical reviews, and ongoing education to support affected individuals.
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?
