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 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.
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.
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