Chubb Limited Stock Price, News & Analysis

On January 10, 2022, Chubb Limited (NYSE: CB) announced the appointment of Julie Dillman as Executive Vice President and Digital Transformation Officer, effective January 1, 2022. Previously serving as Senior Vice President, Dillman will oversee operations and collaborate with the Chief Digital Business Officer to drive digital transformation. Additionally, Thomas Kropp was named Senior Vice President and Global Head of Operations and Technology. Both leaders bring extensive experience to enhance Chubb's operational efficiency and digital capabilities as the company adapts to the digital age.

Chubb Limited (NYSE: CB) will host its fourth quarter earnings conference call on February 2, 2022, starting at 8:30 a.m. Eastern. The company plans to release its earnings and financial supplement on February 1, 2022, after market close. Investors can access the call via live webcast or by calling the provided numbers. A replay will be available until February 16, 2022. Chubb is the largest publicly traded property and casualty insurer, operating in 54 countries and employing approximately 31,000 people worldwide.

Chubb Limited (NYSE: CB) has appointed Bryce Johns as Senior Vice President and President of Chubb Life, effective April 2022. He joins from HSBC, where he was the Global CEO of HSBC Life. Mr. Johns will oversee Chubb's international life insurance business, mainly in Asia and other key regions. He succeeds Russell Bundschuh, who is leaving the company. Chubb is also progressing with the acquisition of Cigna's life and non-life insurance businesses in Asia Pacific, a move aimed at enhancing its market presence.

Chubb Canada appointed Paul Johnstone as Chief Operating Officer and Melanie Wilcox as Head of Personal Risk Services, effective January 1, 2022. Johnstone, formerly Executive VP of Personal Risk Services, will oversee retail property and casualty insurance and enhance digital strategies. Wilcox, previously Senior VP, will lead strategic initiatives in underwriting and marketing. These changes aim to strengthen Chubb Canada's market position and expand its offerings.

Chubb and The Wharton School released a study exploring how ultra-high-net-worth (UHNW) individuals perceive wealth and risk management. The survey of 100 UHNW investors revealed that 87% see tangible assets as vital to their wealth, contrasting with only 53% of financial advisors acknowledging this view. Furthermore, there is a notable 37% gap in perceptions regarding tangible assets' inclusion in balance sheets. The research indicates a strong preference for coverage and service over price among UHNW clients, with a focus on the financial stability of insurers.

Chubb announced its involvement in a significant debt restructuring and ocean conservation project in Belize, supporting the U.S. International Development Finance Corporation (DFC) with $300 million in reinsurance. The $364 million loan, facilitated by The Nature Conservancy and Credit Suisse, aims to reduce Belize's debt by approximately $250 million and generate $180 million for marine conservation over 20 years. This initiative is the largest debt-for-nature restructuring focused on marine conservation globally, promoting sustainable economic development and community resilience.

Chubb has enhanced its leadership in North America's commercial property and casualty divisions with two key appointments. Seth Gillston has been named Executive Vice President overseeing Global Casualty and Multinational Operations, while retaining his role as leader of the Private Equity practice. Bill Hazelton has been appointed to focus on strategic initiatives and lead the Real Estate & Hospitality practice. Both leaders bring extensive industry experience aimed at improving client solutions and operational efficiency.

Chubb has launched the Chubb Primary Employment Practices Liability Insurance (EPLI) to protect companies against financial losses from employment-related lawsuits, including wrongful termination and breach of contract. This policy covers claims from current, former, and prospective employees. The offering is complemented by loss prevention consultant services and access to ChubbWorks, an online resource for EPL loss prevention tools. In 2020, the EEOC reported almost 70,000 discrimination claims, underscoring the need for this coverage.