Chubb Limited Stock Price, News & Analysis

Chubb has appointed John Keogh as President and Chief Operating Officer, effective immediately. Keogh, who has served as Chief Operating Officer since 2011, will continue to report to Evan G. Greenberg, the Chairman and CEO. This promotion reflects his extensive contributions to the company over 14 years. Chubb operates in 54 countries, offering a range of insurance solutions. The company is listed on the NYSE under the symbol CB and is part of the S&P 500 index.

Chubb has released a report titled "Digital Business Accelerated," detailing how small and mid-sized businesses are adapting to a digital-first environment due to COVID-19. The study, conducted with Accenture, identifies four key trends: digital-first communication, data utilization, workforce transformation, and global market engagement. The report highlights that 75% of businesses plan to invest in AI over the next three years, reflecting a growing focus on digital capabilities amid increased risk exposures.

Nubank and Chubb have launched Nubank Vida, a fully digital life insurance product in Brazil. Targeted at Nubank's 30 million customers, the offering simplifies the purchasing process by enabling users to customize their policies through an app. Basic coverage includes natural or accidental death, hospitalization, and funeral assistance. The partnership aims to democratize life insurance access in Brazil, where only 20% of Nubank's customers currently hold a policy. The initiative reflects Nubank's commitment to innovation and expanding its product range.

Chubb announced the appointment of Gabriel Lazaro as Senior Vice President, Digital Head for Overseas General Insurance, effective January 1, 2021. Previously serving as Digital Head for Latin America, Lazaro will now oversee digital insurance product distribution outside North America. He'll report to Sean Ringsted and Juan Luis Ortega. With a strong background in digital strategy, Lazaro aims to enhance Chubb's international digital efforts and product innovation. Chubb operates in 54 countries and is listed on the NYSE under the symbol CB.

Chubb's latest Cyber InFocus Report reveals a significant rise in cyber incidents within the professional services industry, showing a 10% increase, largely due to email phishing. The report emphasizes the need for companies with remote workers to adopt protective measures, such as multifactor authentication. Additionally, there is an increasing trend in cyber incidents across various sectors, with the technology and manufacturing industries also experiencing rises of 8% and 7%, respectively. Chubb highlights the evolving complexity of cyber threats, stressing the importance of proactive risk management.

Chubb Limited (NYSE: CB) announced a quarterly dividend of $0.78 per share, payable on January 8, 2021, to shareholders of record by the close of business on December 18, 2020. This payout is part of a dividend strategy approved by shareholders earlier this year. The Board also authorized a new share repurchase program of up to $1.5 billion, effective through December 31, 2021, with the existing authorization set to be utilized first. The timing and volume of repurchases will depend on market conditions and company strategy.

Chubb has appointed Jason Luyt as the new Senior Vice President and Chief Underwriting Officer for its International Accident & Health division, effective January 1, 2021. Luyt, who joined Chubb in 2015, brings over 20 years of insurance experience and will oversee underwriting functions across 51 countries. He succeeds Deborah Venella, who retires after a notable 47-year career. John Thompson, the division president, expressed confidence in Luyt's leadership and the potential for profitable growth globally.

Chubb has enhanced the Chubb Cyber Index with new features aiding organizations in assessing cyber risks. The tool now includes ransomware risk assessments, industry-specific incident costs, and an interactive chatbot named Clara the Coder. Regular updates provide recent data to aid businesses in navigating evolving cyber threats, especially amid the COVID-19 pandemic. Since its launch in 2018, the tool has offered commercial clients essential insights into cyber threats, supporting proactive measures against potential incidents. The Chubb Cyber Index remains freely accessible online.

Chubb Limited (NYSE: CB) reported a net income of $1,194 million ($2.63 per share) for Q3 2020, a 9.4% increase from $1,091 million ($2.38 per share) in Q3 2019. However, core operating income fell 26.6% to $907 million ($2.00 per share). The company's book value per share increased 3.0% to $124.98, boosted by $1.1 billion in net realized gains. The P&C combined ratio was 95.2%, impacted by $925 million in catastrophe losses. Despite challenges, net premiums written rose 6.5%, driven mainly by commercial business growth.