Chubb Limited Stock Price, News & Analysis

Chubb announced its second Virtual Large Account Client and Broker Engagement Event, scheduled for April 19-21. This event aims to connect senior executives, clients, and brokers to discuss individual risk management needs, Chubb's latest data, and industry insights. Matt Merna, Senior Vice President, emphasized the importance of client engagement and collaboration amidst challenges like the global pandemic. The event will conclude with a reception for participants. Clients are encouraged to contact their local Chubb representatives for more information.

Chubb Limited (NYSE: CB) issued a statement addressing The Hartford's recent refusal to discuss a strategic business combination. Chubb emphasized its strong underwriting performance and confidence in leveraging favorable commercial insurance market conditions. The company remains committed to delivering value for shareholders and maintaining disciplined acquisition practices focused on fair value. Chubb, the world's largest publicly traded property and casualty insurer, operates in 54 countries and is known for its extensive range of insurance products and services.

Chubb's Westchester Division has appointed Dave Roberts as Senior Vice President of Westchester Small Business, succeeding David Charlton who is retiring. Roberts brings nearly two decades of industry experience, previously serving as Senior Vice President of Small Business Underwriting. His role will focus on product development, underwriting operations, and profitability strategies for small businesses. Westchester offers diverse insurance solutions and is notable for its strong financial performance. This leadership change aims to enhance Westchester's market presence and client offerings.

Chubb Limited submitted a proposal on March 11, 2021, to merge with The Hartford, valuing the company at $65.00 per share, a 26% premium over its average share price of $51.70. The proposal includes a mix of stock and cash. Chubb has not received a response but is eager for discussions aimed at a beneficial transaction for stakeholders. Despite the interest in merging, no agreement has been reached, and uncertainties remain regarding the final terms and timeline of any potential transaction.

Chubb Limited (NYSE: CB) announced it will propose a dividend increase at the 2021 Annual General Meeting, marking the 28th consecutive year of dividend growth. The recommended annual dividend will be $3.20 per share, distributed in quarterly payments of $0.80 each, up from the current $0.78 per share. The latest quarterly dividend of $0.78 is scheduled for payment on April 9, 2021, to shareholders of record by March 19, 2021.

Chubb has launched BLINK by Chubb, a new brand aimed at providing affordable and user-friendly insurance products for digitally savvy consumers. The suite includes personal cyber protection, now available in 25 states, designed to address the gap in personal cyber security awareness. Blink offers flexible, customizable coverage with an easy digital experience backed by Chubb's strong financial and underwriting capabilities. For a monthly cost comparable to a cup of coffee, consumers can secure $10,000 in cyber protection for their households.

Chubb has launched its new Chubb Primary Commercial Crime Insurance, designed to assist businesses of all sizes in safeguarding against various criminal activities. This offering addresses modern threats like theft, hacking, and employee dishonesty. Notably, occupational fraud led to losses exceeding $3.6 billion globally, with business email compromises costing $1.7 billion in damages. The coverage includes loss of funds due to unauthorized computer access, fraudulent fund transfers, and investigative expenses related to these crimes.

Chubb has announced two new leadership appointments in its North America Financial Lines division, effective immediately. Michael Mollica is appointed to lead the Private/Not-For-Profit Management Liability business, succeeding Leigh Anne Sherman, who becomes Division President of ESIS, Inc. Stephen Troiano succeeds Mollica as Executive Vice President, focusing on U.S. Retail Financial Institutions Management Liability. Both executives bring over 20 years of industry experience and will report to Steven F. Goldman, Division President. Chubb, a leading property and casualty insurance company, aims to enhance its management liability solutions.