Chubb Limited Stock Price, News & Analysis

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.

On January 7, 2021, Chubb's CEO Evan G. Greenberg condemned the violence following the U.S. election, affirming the legitimacy of the electoral process. He emphasized the need for leaders to promote respect and support for the democratic transition of power. Greenberg called for national unity to address common challenges. Chubb, a leading property and casualty insurer, maintains a significant global presence, providing a range of insurance products while maintaining strong financial strength. The company is publicly traded under the ticker CB on the NYSE.

Chubb has improved its Directors & Officers (D&O) and Entity Securities Liability Insurance, along with its Fiduciary Liability insurance, to better serve companies facing management liability risks. The enhancements include customizable policy endorsements that cater to unique company needs globally. The new Fiduciary Liability policy adds sought-after features like settlor coverage and pre-claim investigation coverage, providing robust protection in a litigious environment. These updates underline Chubb's commitment to addressing evolving corporate risk exposures.

AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and Long-Term Issuer Credit Ratings (ICR) of “aa+” for Chubb Limited's subsidiaries, including Chubb US Group and Chubb Bermuda. The outlook for these ratings is stable. The ratings reflect the group's strong balance sheet, very strong operating performance, and favorable business profile. Chubb is noted as the eighth-largest U.S. property-casualty insurer, with a strong underwriting record despite challenges from catastrophe losses and COVID-19 in recent years.

Chubb has released a new whitepaper titled "Email: Is the Digital Door Propped Open for Identity Hijackers?" co-authored with Microsoft. This document highlights the evolution of email cyber crimes, particularly Business Email Compromise (BEC). It emphasizes the necessity of multi-factor authentication as a safeguard against such attacks, which exploit weak passwords and sophisticated impersonation tactics. With claims that implementing these measures can significantly lower risks, the whitepaper aims to provide businesses with effective strategies to combat evolving cyber threats.