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 the parent company of Chubb, which is described as a world leader in insurance with operations in 54 countries and territories. This news page aggregates coverage related to Chubb’s global insurance activities, including commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance.
Investors and observers can use this feed to follow company announcements such as quarterly and annual earnings results, dividend declarations, leadership changes and investor relations updates. For example, Chubb issues press releases reporting its quarterly financial performance, combined ratios, net premiums written, life insurance segment income and investment income, and it announces the timing of earnings conference calls and the availability of financial supplements and investor presentations.
Chubb’s news also highlights developments across its specialized businesses. Releases have described branding initiatives at Chubb Benefits, a Chubb company focused on supplemental accident, health, disability and life insurance products in the U.S. and Canada, and product and partnership news at Healthy Paws, a Chubb company providing accident and illness pet insurance for dogs and cats. Other items include philanthropic updates, such as donations from the Healthy Paws Pet Foundation at Chubb to animal rescue organizations.
Corporate governance and organizational updates appear in the form of announcements about executive appointments and retirements, including roles overseeing North America Field Operations, international property and casualty operations and investor relations. By reviewing this news stream, users can see how Chubb communicates its financial performance, strategic focus areas and brand developments over time.
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Chubb Limited (NYSE: CB) announced the appointment of Darryl Page as Vice President and Chief Culture Officer, effective January 9, 2023, succeeding Ivy Kusinga. Page, who returns after retiring in July 2022, will manage Chubb's culture and DE&I strategy. With over 35 years in the insurance industry, Page previously led Chubb's International Personal Lines business. CEO Evan G. Greenberg praised his leadership and understanding of the company's culture, while acknowledging Kusinga's significant contributions to fostering inclusion within Chubb.
Chubb has announced enhancements to its Chubb Studio, an integration platform that simplifies insurance embedding for partners. The updates include new software development kits (SDKs) for seamless integration, the ability to incorporate products from other carriers, and expansion of the Blink by Chubb experience globally. Since its 2020 launch, over 150 companies adopted Chubb Studio, driving growth in digital insurance distribution.
This strategic move aims to enhance customer experience and offer partners greater flexibility and faster product launches in the embedded insurance market.
Chubb Limited (NYSE: CB) reported Q3 2022 net income of $812 million, down 55.7% from $1.83 billion in Q3 2021, impacted by $502 million in after-tax losses. Core operating income rose 15.1% to $1.33 billion. Year-to-date, net income stands at $4 billion, a decrease of 37.5%. P&C net premiums written increased by 8.5%, with commercial lines up 11.7%. Life Insurance premiums surged 108.8% to $1.27 billion due to the Cigna acquisition. Pre-tax catastrophe losses reached $1.16 billion, largely from Hurricane Ian. Book value per share decreased 7% to $114.79.
The Chubb Fifth Annual Report on Personal Cyber Risk reveals encouraging progress in personal cyber security, with 51% of respondents using multi-factor authentication, doubling from 2021. Despite this, poor cyber-security practices persist, with 61% struggling to manage passwords and many still using easily identifiable terms in them. Notably, 30% of high-net-worth individuals reported experiencing a cyber-attack involving money, significantly higher than other income groups. The report highlights growing concerns over large-scale cyber threats, with 87% fearing attacks on essential services.
Chubb has appointed Bill Hazelton as Executive Vice President and Head of North America Industry Practices, effective immediately. In this newly created role, he will enhance the company's delivery of industry-focused insurance coverages and services in North America. Hazelton retains his position as the Real Estate & Hospitality Industry Practice Leader and will report to John Lupica, Vice Chairman. Chubb aims to leverage sector-specific expertise across various practices including Life Sciences, Technology, and Healthcare to improve client solutions.
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Chubb Limited (NYSE: CB) announced its third quarter earnings conference call scheduled for October 26, 2022, at 8:30 a.m. Eastern. The earnings release and financial supplement will be available post-market on October 25, 2022. Investors can access the live conference call via webcast or by phone. Chubb, a leading property and casualty insurer with operations in 54 countries, maintains strong financial performance and a reputation for fair claims service. Its stock is part of the S&P 500 index.
On September 22, 2022, Blink by Chubb announced a partnership with SoFi (NASDAQ: SOFI) to provide personal cyber insurance to SoFi members. This policy aims to protect against various cyber threats, including identity theft and ransomware. SoFi emphasizes that this addition aligns with its mission to support over 4.3 million members in managing their digital financial safety. The partnership reflects an increasing need for robust cyber protection in a digital world, enhancing the overall service offerings within SoFi's financial portfolio.
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