Chubb Limited Stock Price, News & Analysis

Chubb Limited (NYSE: CB) announced the appointments of John Thompson as Vice President and Division President of International Personal Lines, and Daniela Hernandez as Division President of International Accident & Health, effective June 1. Thompson, previously Division President of International A&H, will succeed Darryl Page, who is retiring after 10 years with the company. Hernandez comes from a leadership role in Chubb's Life and A&H business in Chile. Both executives are expected to enhance the company’s product offerings and strategic partnerships internationally.

First Connect has partnered with Blink by Chubb to offer personal cyber insurance coverage through its insurtech marketplace. This policy protects against cyber extortion, identity theft, and cyberbullying, covering electronic data restoration and associated costs. It provides 24-hour claim responses and extends coverage to household members and additional households. This collaboration aims to enhance accessibility for independent agents and consumers, responding to the rising demand for cyber protection in a digitally interconnected world.

Chubb Limited (NYSE: CB) announced a 3.75% increase in its annual dividend to $3.32 per share, marking the 29th consecutive annual dividend increase. The first installment of $0.83 per share will be payable on July 8, 2022, to shareholders of record on June 17, 2022. Additionally, the company authorized a new $2.5 billion share repurchase program effective through June 30, 2023. Shareholders also approved a proposal for a report on greenhouse gas emissions related to the company's activities.

Chubb has appointed Paul Johnstone as the new Country President for its operations in Canada, effective July 1, 2022, pending regulatory approvals. Johnstone, previously the Chief Operating Officer, will oversee the retail property and casualty insurance business, including high-net-worth personal lines. He succeeds John Alfieri, who is retiring after nearly 20 years. Johnstone brings nearly 30 years of experience in the Canadian insurance market, having joined Chubb in 1994.

Chubb has launched five new fidelity bonds as part of its Financial Institution Bonds suite, aimed at addressing the heightened operational risks for financial institutions. These products respond to emerging risks including unauthorized access to computer systems and fraudulent transactions. From January 2014 to October 2019, over $2.1 billion in losses were reported due to Business Email Compromise scams. Chubb's Vice President, Ayo Oshodi, emphasizes the necessity for modernized insurance coverage to combat sophisticated fraud schemes. More details on the bonds can be found on Chubb's website.

Chubb Limited (NYSE: CB) reported Q1 2022 net income of $1.97 billion ($4.59/share), down 14.2% from $2.30 billion last year. Core operating income rose 43.6% to $1.64 billion ($3.82/share>. Net premiums written increased 6.2% overall, driven by a 10.7% rise in commercial lines. The company achieved record P&C underwriting income of $1.28 billion, with a combined ratio of 84.3%. However, book value per share decreased 4.4% due to a $3.57 billion unrealized loss in the investment portfolio.

Chubb has released its 2022 Liability Limit Benchmark & Large Loss Profile report, assessing risks and trends across ten industry sectors including manufacturing and healthcare. Major contributing factors to increasing large losses include economic inflation, litigation, extreme weather, and the ongoing pandemic. The report indicates that while large losses are rising, many companies' insurance limits remain flat or decreasing. This highlights the urgency for risk management professionals to reassess coverage to mitigate future financial impacts.