Chubb Limited Stock Price, News & Analysis

Westchester, Chubb's wholesale excess and surplus insurance business, has appointed Thomas McLaughlin as Executive Vice President of its Casualty Practice. He succeeds Dean Andrighetto, who has retired after over 35 years. McLaughlin, previously Senior Vice President and COO at Westchester, brings over 20 years of industry experience. His responsibilities will include overseeing product development, underwriting, and profit and loss. Chubb continues to be a leading player in the excess and surplus lines market, emphasizing innovation and financial strength.

Chubb Limited (NYSE: CB) will conduct its second quarter earnings conference call on July 28, 2021, at 8:30 a.m. Eastern. Earnings release and financial supplement will be issued on July 27, 2021, after market close, available on their investor website.

The conference call will be accessible via a live webcast or by dial-in. A replay will be available until August 11, 2021. Chubb is the largest publicly traded property and casualty insurance company, operating globally with approximately 31,000 employees.

Chubb has released a whitepaper titled "Guarding Against Email Social Engineering Fraud: Re-examining a Global Problem" co-authored with Gordon Rees Scully Mansukhani LLP and PaymentWorks. The paper highlights the increasing sophistication of email fraud schemes, revealing that cyber criminals stole over $28 billion between 2016 and 2020. It recommends a zero-trust approach for businesses, focusing on upgraded technology and revised processes to combat these threats. Key prevention strategies include Multi-Factor Authentication and verifying vendor information through secure platforms.

On June 8, 2021, Chubb Limited (NYSE: CB) announced Mark Hammond's appointment as Deputy Chief Financial Officer, effective July 1. Hammond, currently serving as Treasurer, will support incoming CFO Peter Enns following Philip Bancroft's retirement. With over 30 years in insurance and a proven track record in finance, Hammond aims to strengthen Chubb's global finance operations. His extensive experience includes leadership roles in both the U.S. and international finance sectors and a background in public accounting as a CPA.

Chubb has launched the Benchmarq Package, an innovative insurance product tailored for the lower middle market. Designed to provide comprehensive coverage, Benchmarq offers enhanced property and liability protections, addressing gaps often overlooked by traditional policies. This scalable solution can be customized to meet the evolving needs of clients across various sectors, including education, manufacturing, and technology. Available in 29 states, Benchmarq will also be featured on the Chubb Marketplace this Fall. This initiative enhances Chubb's presence in a growing market segment.

Chubb launched a new advisory series titled Global Risk Spotlights aimed at U.S. multinational companies, focusing on insurance exposures and compliance. The advisories address critical global risks and best practices for insurance management. Key topics include DIC/DIL clauses, local D&O policies, global accident and health insurance opportunities, and multinational casualty protection. Chubb emphasizes its long-standing experience in multinational insurance, having issued over 67,000 local policies and managed more than 37,000 claims in 2020. The advisories aim to enhance clients' understanding of evolving risk environments.

Chubb Limited (NYSE: CB) announced a 2.6% increase in its annual dividend to $3.20 per share, equating to $0.80 quarterly, marking the 28th consecutive annual increase. This decision was ratified during the 2021 Annual General Meeting in Zurich, Switzerland. Shareholders of record on June 18, 2021, will receive the first installment on July 9, 2021. The dividend will be paid in four quarterly installments from legal reserves in US dollars as detailed in the company’s proxy statement.