Chubb Limited Stock Price, News & Analysis

Chubb has appointed Ketan Vaidya as Division President of North America Small Commercial Insurance, with responsibilities including product, marketing, strategy, and P&L management. He will report to John Lupica, alongside working with Digital Business teams. Additionally, Jeffrey Updyke has been named Head of North America Lower Middle Market, focusing on tailored offerings for this growing segment. These leadership expansions come as Chubb experiences significant growth in both small commercial and lower middle market sectors, indicating a strategic response to evolving market demands.

Chubb Limited (NYSE: CB) announced a proposal to increase its annual dividend to $3.32 per share, marking the twenty-ninth consecutive year of dividend increases. The quarterly installments will rise from $0.80 to $0.83, with the next payment scheduled for April 8, 2022, to shareholders of record by March 18, 2022. This reflects the company’s ongoing commitment to returning value to shareholders while maintaining its financial strength.

Chubb Limited (NYSE: CB) reported Q4 2021 net income of $2.14 billion, translating to $4.95 per share, and core operating income of $1.65 billion, or $3.81 per share. The property and casualty (P&C) combined ratio improved to 85.5% from 87.6% a year prior. For the full year, net income reached $8.54 billion, up 141.7%, with core operating income up 68.1% to $5.57 billion. The company returned $1.25 billion to shareholders in Q4, including $905 million in share repurchases. Continued premium growth and underwriting margin expansion were highlighted as key drivers for the positive results.

Chubb has appointed Miriam Connole as the new Chief Financial Officer for Overseas General Insurance, effective March 1. This follows John Jones' retirement after 43 years at the company. Connole previously served as CFO for the Europe, Middle East, and Africa regions and brings nearly two decades of experience in insurance and finance. Chubb Overseas General operates across 51 countries, managing commercial and personal lines. The company emphasizes its global presence and commitment to financial strength, with Chubb listed on the NYSE under the symbol CB.

Regional Management Corp. (NYSE: RM) announced the appointment of Philip Bancroft as a new member of its Board of Directors. With a strong background as the former CFO of Chubb (NYSE: CB) and extensive experience in financial and risk management, Bancroft's addition increases the board's size to nine members. His expertise is expected to enhance Regional's financial capabilities and support ongoing digital growth initiatives. The announcement signifies a strategic move to bolster leadership as the company continues to expand its market presence.

Chubb Limited (NYSE: CB) has announced the appointment of Drew Spitzer as Treasurer, effective March 1, 2022. Spitzer, currently Chief Financial Officer for North America Insurance, will oversee treasury functions globally. Kevin Harkin will succeed him as CFO for North America Insurance, previously Senior Vice President for North America Financial Operations. Both experienced executives have been with Chubb for over 15 years. The outgoing CFO Mark Hammond will assist in the transition until March 1, 2022.

Chubb has released a whitepaper titled "Why Commercial Property Insurance Prices are Higher, And What Can Be Done About It", addressing the complexities affecting commercial property underwriting. The paper discusses factors like unpredictable weather, supply chain issues, and inflation, which are driving up insurance costs. Industry stakeholders are urged to adopt proactive risk management strategies and more detailed data analysis to navigate these challenging conditions. Additionally, it emphasizes the importance of accurate property damage appraisals for comprehensive underwriting.