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Chubb Limited - CB STOCK NEWS

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.

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Chubb (NYSE: CB) has announced the appointment of Ana Robic and Ben Rockwell as Senior Vice Presidents of the Chubb Group. Both will maintain their current roles and report to Juan Luis Ortega and Scott Meyer. Jason Ranucci is now Head of North America Lower Middle Market, succeeding Jeffrey Updyke, who will lead as Executive Vice President, North America Commercial Insurance & Digital Distribution. John DePeters has been named Chief Underwriting Officer, Small Commercial. These leadership changes are effective immediately. The company aims to leverage the extensive experience of these executives to drive growth in the lower middle market and small commercial segments.

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On July 10, 2024, Chubb (NYSE: CB) announced a reorganization of its Latin America region into three sub-regions: Northern Latin America, Southern Latin America, and Brazil. This restructuring is intended to better serve customers and distribution partners while harnessing potential growth opportunities. Diego Sosa, currently the Country President of Mexico, will lead Northern Latin America. Mario Romanelli, currently the Country President of Chile, will head Southern Latin America. Leandro Martinez will continue to manage Brazil. These leaders will report to Federico Spagnoli, Regional President, Latin America and Division President, Consumer Lines, Overseas General Insurance. The restructuring aims to enhance focus and service quality across the region.

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Chubb has appointed David Lupica as Vice President, Chubb Group and President of Westchester, its wholesale excess and surplus (E&S) lines business in North America. Lupica will succeed Scott Meyer, who was promoted to Senior Vice President, Chubb Group and Chief Operating Officer of North America Insurance. Lupica, with over 30 years of industry experience, previously served as Chief Operating and Distribution Management Officer, Westchester. Under his leadership, Westchester, a market leader, writes $4 billion in premiums annually. He will report to Scott Meyer and Juan Luis Ortega, Executive Vice President, Chubb Group and President of North America Insurance. Lupica has been with Chubb since 2000, holding various senior positions, and is recognized for his deep understanding of the E&S business.

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Chubb (NYSE: CB) has announced significant executive appointments. Paul McNamee has been named Executive Vice President, Chubb Group and President of Overseas General Insurance, overseeing 51 countries outside North America. He succeeds Juan Luis Ortega, now President of North America Insurance operations. McNamee, previously Regional President of Asia Pacific, will be based in New York and report to the CEO and COO. Marcos Gunn, previously Regional President of Latin America, will succeed McNamee in the Asia Pacific region, relocating to Singapore. Federico Spagnoli, currently Division President, Consumer Lines, will lead the Latin America region, succeeding Gunn. These changes are effective immediately. McNamee brings nearly 30 years of industry experience, Gunn over 25 years, and Spagnoli over 20 years. Chubb sees these appointments as strategic moves to leverage their experienced leadership for global growth.

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Chubb has announced significant executive appointments within its North American insurance business. John Lupica, previously Vice Chairman and President of North America Insurance, is now Executive Chairman. Juan Luis Ortega, formerly EVP and President of Overseas General Insurance, is the new President.

Scott Meyer is promoted to COO, a newly created role, while Christopher Maleno is named Vice Chairman, retaining his duties as Division President. These changes are effective immediately, aiming to manage the complexity and foster growth in Chubb's North American operations.

The appointments reflect the extensive experience and leadership skills of the executives, with Lupica overseeing strategy and governance, and Ortega managing day-to-day operations.

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Chubb (NYSE: CB) will hold its second quarter earnings conference call on Wednesday, July 24, 2024, at 8:30 a.m. Eastern. The company plans to release its second quarter earnings and financial supplement after the market closes on Tuesday, July 23, 2024. These documents will be accessible on the company's investor website. The earnings call can be accessed via live webcast or by phone for both domestic and international participants. A replay of the call will be available on the company's website post-event.

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Chubb (NYSE: CB) announced that shareholders approved a 5.8% increase in its annual dividend to $3.64 per share, marking the 31st consecutive annual increase. This decision was made at the 2024 Annual General Meeting in Zurich, Switzerland, where all agenda items were also approved as recommended by the Board. The dividend will be paid in four quarterly installments of $0.91 per share, starting with the first payment on July 5, 2024, for shareholders on record as of June 14, 2024. Payments will be made in USD by the company's transfer agent.

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Chubb reported strong financial performance in the first quarter of 2024, with net income of $2.14 billion, up 13.3%, and core operating income of $2.22 billion, up 20.3%. Consolidated net premiums written were $12.2 billion, up 14.1%, with P&C up 12.4% and Life Insurance up 26.3%. P&C underwriting income was $1.40 billion, up 15.4%, with a combined ratio of 86.0%. Pre-tax net investment income was $1.39 billion, up 25.7%. Annualized return on equity (ROE) was 14.3%. Chubb's global growth in premiums and strong underwriting performance led to a successful start to the year.
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Chubb has entered into a definitive agreement to acquire Healthy Paws, a leading pet insurance provider, from Aon plc. The transaction aims to expand Chubb's presence in the pet insurance market with substantial growth potential. Financial terms were not disclosed, and the deal is expected to close in the second quarter. Healthy Paws, with over 500,000 pets under coverage, will continue its operations under Chubb to empower more pet owners with medical care funding.
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Combined Insurance Company of America, a Chubb company, continues its support for the military by presenting grants to two military-focused non-profit organizations and receiving a 5-Star Employer rating by VETS Indexes. The company's Operation Veteran Giveback program awarded $50,000 to Luke's Wings and Fisher House Foundation. Combined's commitment to military support was highlighted at the annual ceremony in Chicago. The company's efforts were recognized by VETS Indexes for its outstanding support for veterans and military-connected individuals.
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FAQ

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

105.53B
406.06M
6.98%
84.46%
0.95%
Direct Property and Casualty Insurance Carriers
Finance and Insurance
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United States of America
ZURICH