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 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.
On December 13, 2021, Chubb announced an agreement-in-principle with the Boy Scouts of America (BSA) regarding its bankruptcy case. Under the agreement, Chubb companies will pay $800 million to secure a broad release from BSA-related abuse claims. The net financial impact is expected to be mitigated by existing reserves and third-party reinsurance. This agreement is contingent on various conditions and court approvals, emphasizing the importance of finalized legal processes for the settlement.
AM Best has affirmed the Financial Strength Rating (FSR) of A++ and Long-Term Issuer Credit Ratings of 'aa+' for Chubb Limited's subsidiaries, including Chubb US Group and Chubb Bermuda. The ratings reflect the group's strongest balance sheet strength and very strong operating performance. Despite facing high catastrophe losses, the group has maintained positive income for the last decade. The outlook for these ratings remains stable, supported by robust pricing in commercial lines and financial flexibility from Chubb Limited.
Chubb Limited (NYSE: CB) has appointed Fran O'Brien as the new Deputy Chief Risk Officer, effective January 1, 2022. Previously the Senior Vice President and Division President of North America Personal Risk Services, O'Brien will now oversee the company's enterprise risk management activities. Ana Robic, the current Chief Operating Officer for North America Personal Risk Services, will succeed O'Brien as Division President. Robic has over 20 years of experience in insurance and will focus on personal lines property and casualty insurance across the U.S. and Canada.
Chubb, the largest publicly traded property and casualty insurer, has announced a new digital alliance with Betterfly, a Latin America-based digital benefits platform. This collaboration focuses on promoting employee self-care and rewards healthy habits with charitable donations and life insurance benefits. Betterfly will integrate Chubb's insurance offerings across Mexico, Colombia, Ecuador, Chile, and Argentina, leveraging Chubb Studio for product distribution. This partnership aims to address the substantial mortality protection gap in Latin America, estimated at US$14 trillion, while enhancing access to life insurance.
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