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 (CB) is a global leader in insurance underwriting and risk management solutions, serving clients across 54 countries. This dedicated news hub provides investors and industry professionals with timely updates on corporate developments, financial performance, and strategic initiatives.
Access the latest press releases, earnings announcements, and market insights to stay informed about Chubb’s operations in commercial insurance, reinsurance, and specialty risk coverage. Our curated collection prioritizes official statements and verified updates, offering a comprehensive view of the company’s position in the insurance sector.
Key content categories include quarterly financial results, leadership changes, product innovations, regulatory compliance updates, and strategic partnerships. All materials are organized chronologically to help users track evolving market dynamics affecting Chubb’s diverse business segments.
Bookmark this page for streamlined access to Chubb Limited’s most critical updates. Combine these resources with broader market analysis to inform your understanding of the company’s operational resilience and growth trajectory in the global insurance landscape.
On February 8, 2021, Chubb announced the appointment of Leigh Anne Sherman as Division President of ESIS, a leading third-party claims administrator. She will oversee strategies in product development, customer service, sales, and P&L performance. Ms. Sherman has extensive experience with Chubb, having previously led the Private/Not-For-Profit Management Liability practice. Her leadership is expected to drive growth and enhance service delivery for ESIS. She will report to Matt Merna, Senior Vice President, Chubb Group.
Chubb Tempest Re announced the appointment of Sam Peters as Division President of Chubb Tempest Re Bermuda, effective March 1, subject to Bermuda Department of Immigration approval. Currently serving as Chief Actuary, Peters has extensive experience in the insurance industry, joining Chubb in 2006. His new role will involve management of property catastrophe reinsurance solutions for global clients. Senior VP Jim Wixtead expressed confidence in Peters' ability to enhance Chubb Tempest Re's market differentiation.
Chubb Limited (NYSE: CB) has authorized a $1 billion increase to its share repurchase program, bringing the total authorized repurchases for 2021 to $2.5 billion. The initial authorization was announced on November 19, 2020. Share repurchases will be executed at management's discretion, based on market conditions and the company's capital management strategy. This move aims to enhance shareholder value by reducing the number of shares outstanding, thereby potentially increasing earnings per share (EPS).
Chubb Limited (NYSE: CB) posted a net income of $2.42 billion for Q4 2020, marking a 106.2% increase from Q4 2019. Core operating income rose by 38.4% to $1.44 billion. For the full year, net income decreased 20.7% to $3.53 billion, while core operating income fell 28.6% to $3.31 billion. A significant factor was the combined ratio of 96.1% for the year and 87.6% for Q4. Premium revenue grew by 5.4% in constant dollars, with commercial lines achieving an 11% growth rate.
Chubb has been recognized with the highest customer satisfaction rating in the J.D. Power 2020 U.S. Small Commercial Insurance Study. This accolade is based on performance in key areas including claims handling, billing, and pricing.
Chubb emphasizes its commitment to small businesses, especially during challenging times like the COVID-19 pandemic, offering premium reductions and other financial support. This recognition underscores the dedication of Chubb's workforce in delivering exceptional service to its clients.
Chubb announced the retirement of Philip Bancroft, Chief Financial Officer, effective July 1, after nearly 20 years with the company. He will be succeeded by Peter Enns, who joins as Executive Vice President, Finance, by April 1. Enns brings over 30 years of finance and investment banking experience, previously holding senior roles at Goldman Sachs and HSBC. Bancroft will support Enns in an advisory role through the year. Chubb is the world's largest publicly traded property and casualty insurance company, listed on NYSE under the symbol CB.
Chubb announced the appointment of Jeremiah Konz as Chief Reinsurance Officer, effective immediately. Konz, previously Executive Vice President, brings nearly a decade of experience at Chubb and over 20 years in the insurance industry. He will oversee the design and purchase of reinsurance programs globally, manage reinsurance recoverable assets, and lead relationships with reinsurers. Konz succeeds Michael Kessler, who has transitioned to Division President of cyber risk insurance. The announcement was made by John Keogh, Chubb's President and COO.
Chubb has appointed Michael Kessler as Division President of its global cyber risk insurance business, effective immediately. Kessler, with nearly 30 years of experience in insurance and actuarial consulting, will oversee strategy, product development, underwriting, and profit and loss performance. He previously served as Chief Reinsurance Officer and has a strong background with Chubb, having joined in 2003. This appointment aims to enhance Chubb's capabilities in addressing evolving cyber threats.
Chubb Limited (NYSE: CB) will host its fourth quarter earnings conference call on February 3, 2021, at 8:30 a.m. Eastern. Prior to the call, the company plans to release its earnings and financial supplement after the market closes on February 2. These documents will be accessible on Chubb's investor website. The call can be streamed live online or accessed by phone. A replay will be available until February 17, 2021. Chubb is the largest publicly traded property and casualty insurer globally, operating in 54 countries.
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