Chubb Limited Stock Price, News & Analysis

Chubb, alongside the National Center for the Middle Market, has released a report highlighting critical challenges facing the life sciences sector. The report emphasizes five key themes: managing innovation, protecting supply chains, commercialization strategies, identifying risks, and navigating regulations. It notes that COVID-19 has intensified these challenges, especially regarding supply chain vulnerabilities and cybersecurity risks. Conducted in March 2020, the survey included insights from 400 life sciences companies, serving as a valuable resource for industry executives.

Chubb Limited has announced management changes in its Asia operations, specifically for its life and general insurance segments. Cunqiang Li has been appointed as Executive Deputy General Manager and Chief Strategy Officer of Huatai Insurance Group, which Chubb holds a 46.2% stake in and plans to increase to a majority ownership with an additional 7.1% purchase. Brad Bennett will take on the role of Chief Operating Officer of Chubb Life, leading operations across seven Asian markets. These changes are aimed at strengthening Chubb's presence in the growing Asian insurance market.

Chubb Limited (NYSE: CB) reported a net loss of $331 million for Q2 2020, significantly down from a net income of $1,150 million in Q2 2019. The core operating loss was $254 million. The company experienced a 1.4% increase in net premiums written, despite a COVID-19 related charge of $1.2 billion impacting earnings. Book value increased by 4.9% to $121.32 per share. The P&C combined ratio worsened to 112.3%, while underwriting losses were noted. Despite these challenges, Chubb remains focused on capitalizing on favorable underwriting conditions globally.

Chubb has announced the integration of its North America Accident and Health (A&H) businesses to enhance service delivery to middle market and large corporate clients. Effective July 22, 2020, Chris Martin has been appointed Division President of Chubb North America A&H, overseeing the division's strategy and operations. James Walloga continues to lead the North America Specialty A&H segment. This restructuring aims to provide clients and distribution partners with improved resources and access to tailored insurance products addressing workplace and travel risks.

Chubb announced the appointment of Tim Stapleton as Executive Vice President for Financial Lines, Overseas General Insurance, effective immediately. He will oversee management and professional liability lines, including directors and officers coverages, errors and omissions, and cyber products across 51 countries. Stapleton has over 15 years of experience, previously serving as Senior Vice President in the same division. He succeeds Steven Goldman, who has transitioned to Vice President of Chubb Group. These leadership changes aim to enhance Chubb's international financial lines capabilities.

Chubb has appointed John Fielding as Senior Vice President and General Counsel for Global Government and Industry Affairs. Reporting to Joe Wayland, Fielding will provide essential legal and regulatory guidance to the company's advocacy efforts. He previously served as General Counsel at the Council of Insurance Agents & Brokers and has extensive experience in regulatory matters affecting the insurance industry. Chubb, listed on the NYSE as CB, operates in 54 countries, offering a wide range of insurance products.

Chubb Limited (NYSE: CB) will host its second quarter earnings conference call on July 29, 2020, at 8:30 a.m. Eastern. The earnings release and financial supplement will be issued after market close on July 28, 2020, and can be accessed on their investor website. Investors can join the call via live webcast or by telephone. A replay will be available until August 12, 2020. Chubb is the world's largest publicly traded property and casualty insurance company, operating in 54 countries and employing approximately 33,000 people globally.