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.
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.
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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.
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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.
Chubb Limited (NYSE: CB) will host its first quarter earnings conference call on April 27, 2022, at 8:30 a.m. Eastern. The earnings release and financial supplement will be available after market close on April 26, 2022. Investors can access these materials on Chubb's investor website. The call will be accessible via live webcast or by phone. A replay will be available until May 11, 2022. Chubb operates globally in property and casualty insurance, employing approximately 31,000 people.
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.
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