Chubb Limited reports developments for a global insurance business spanning commercial and personal property and casualty insurance, personal accident and supplemental health, reinsurance and life insurance. News commonly covers underwriting results, net premiums written, combined ratio trends and earnings materials across North America, Overseas General, consumer insurance and commercial insurance.
Company updates also include insurance partnerships, risk-management programs for sectors such as marine and life sciences, reinsurance facility announcements, claims leadership, operations and technology appointments, and earnings conference schedules. The company is listed on the New York Stock Exchange under CB.
Westchester, Chubb's Excess and Surplus Lines Division, has appointed Alex Faynberg as Executive Vice President and Head of Healthy Paws, effective March 3, 2025. Faynberg, currently Division President of Chubb Workplace Benefits (CWB), will oversee the pet insurance company's market expansion, underwriting, and operational priorities.
Faynberg brings over 20 years of insurance industry experience, including nine years in key leadership roles at Chubb. As CWB Division President since 2022, he established it as one of the fastest-growing large voluntary benefits carriers. Previously, as Senior Vice President and Chief Actuary at Combined Insurance, he led product innovation and business growth.
Chubb (NYSE: CB) has announced that its Board of Directors will recommend a significant dividend increase at the 2025 Annual General Meeting, marking the company's 32nd consecutive annual dividend increase. The proposed annual dividend of $3.88 per share will be paid in four quarterly installments of $0.97 per share, up from the current quarterly payment of $0.91.
The Board has also declared a quarterly dividend of $0.91 per share, payable on April 4, 2025, to shareholders of record as of March 14, 2025. This payment represents the fourth installment as approved by shareholders on May 16, 2024, and will be distributed in US dollars from legal reserves through the company's transfer agent.
Chubb (NYSE: CB) has announced significant leadership changes effective April 1, 2025. Ana Robic, currently Division President of Personal Risk Services (PRS) in North America, has been appointed Regional President of Europe, Middle East and Africa. She succeeds David Furby, who transitions to Executive Chairman of the region.
In her new role, Robic will oversee Chubb's European operations, including the UK, continental Europe, Chubb Global Markets, Middle East and Africa, reporting to Paul McNamee. Furby will maintain executive oversight of strategy and governance while continuing as a board member and chair of the Underwriting Risk Committee.
Melissa Scheffler, currently Chief Operating Officer of PRS, will be promoted to Division President of PRS North America and Vice President of Chubb Group, reporting to Juan Luis Ortega.
Chubb has announced key leadership changes in its Global Casualty division for North America Major Accounts. Seth Gillston has been appointed as Executive Vice President and Head of Global Casualty for Major Accounts in North America, while Lou Capparelli will transition to the role of Chairman of Global Casualty.
Gillston, who joined Chubb in 2000 and brings nearly 30 years of insurance industry experience, will oversee the division's day-to-day operations, including domestic casualty insurance coverage for large national and multinational companies. His responsibilities encompass production strategies, product development, and profit and loss performance. Based in New York City, he will report to Matt Merna, Senior Vice President, Chubb Group and Division President, North America Major Accounts.
Capparelli, who has been with Chubb since 2002 and has led the Global Casualty business unit since 2017, will work alongside Gillston to enhance capabilities and service offerings, focusing on aligning global casualty strategies with distribution partners' and clients' needs.
Chubb (NYSE: CB) reported strong Q4 2024 and full-year financial results. Q4 net income was $2.58 billion ($6.33 per share), with core operating income of $2.45 billion ($6.02 per share). Global P&C net premiums written grew 6.7%, with commercial insurance up 6.4% and consumer insurance up 7.5%.
For full-year 2024, the company achieved record results with net income of $9.27 billion ($22.70 per share) and core operating income of $9.20 billion ($22.51 per share). P&C underwriting income reached a record $5.85 billion with a combined ratio of 86.6%. Global P&C net premiums written increased 9.6% year-over-year.
The company reported strong performance across all major income sources: P&C underwriting, investment income, and life insurance. Book value per share increased 8.8% from December 2023, while tangible book value per share grew 14.1%. The company returned $3.48 billion to shareholders through share repurchases and dividends during 2024.
Chubb has announced two key leadership appointments in its Overseas General Insurance business (COG). Tim Stapleton, previously Executive Vice President of Financial Lines, has been appointed to the newly created role of Chief Underwriting Officer, Overseas General Insurance. He will focus on enhancing underwriting standards, operations, and audit strategy, reporting to Paul McNamee.
Jason Neu, formerly Executive Vice President of Financial Lines for Westchester, will succeed Stapleton in overseeing Chubb's international financial lines division, including directors' and officers' liability, financial institutions, and errors and omissions insurance. Stapleton joined Chubb in 2015 and has previous experience at Zurich Insurance and AIG, while Neu has been with Chubb since 2004, holding various leadership positions in financial lines.
Chubb's Risk Decisions 360° report, based on a Harris Poll survey of 500 business leaders, reveals cybersecurity and technology disruption as the primary threats to business growth. Cybersecurity breaches and data leaks were cited by 40% of executives as the top man-made growth disruptors, while 60% identified cybersecurity as the leading geopolitical risk.
The study shows that 86% of companies either have or plan to adopt business interruption coverage, with 53% already having coverage in place. In terms of technological disruption, 79% of companies are implementing AI in risk management, though over 50% report being impacted by AI-related risks like deepfakes.
Financial risks are also significant, with 59% of executives citing cash flow and 56% pointing to inflation and interest rates as growth obstacles. The report highlights that over 89% of executives plan to expand their cyber insurance coverage to address increasing technological vulnerabilities.
Chubb (NYSE: CB) has announced its upcoming fourth quarter earnings conference call scheduled for Wednesday, January 29, 2025, at 8:30 a.m. Eastern. The company plans to release its fourth quarter earnings and financial supplement after market close on Tuesday, January 28, 2025. These documents will be accessible on Chubb's investor website.
The earnings call will be available through a live webcast on the company's investor website and via telephone dial-in. Interested parties can access the call using the numbers 877-400-4403 (US) or 332-251-2601 (international) with passcode 1641662. A replay of the call will be made available afterward through the same channels.
Chubb has appointed John Latter as the new Head of Claims for Chubb Overseas General (COG), effective immediately. In this role, Latter will oversee the claims organization across Europe, Middle East, Asia Pacific, Latin America, and Far East, leading a team of 3,000 professionals from his London base. Prior to this promotion, Latter served as Senior Vice President, Claims Director for Europe, Eurasia & Africa at Chubb, managing strategic claims direction across multiple insurance lines. With four decades of industry experience, including previous senior roles at Zurich Insurance, Latter joined Chubb in 2017.
AM Best has affirmed the superior credit ratings of Chubb (NYSE: CB) and its subsidiaries, maintaining an A++ Financial Strength Rating and 'aa+' Long-Term Issuer Credit Ratings for its main insurance operations. The ratings reflect Chubb's strongest balance sheet strength, very strong operating performance, and favorable business profile.
The company demonstrates consistently profitable underwriting with a combined ratio in the mid-to-high 80% range, outperforming industry averages. Chubb operates in over 50 countries, leading in U.S. commercial, specialty, and high-net-worth insurance markets. The company maintains very strong risk-adjusted capitalization and a high-quality investment portfolio, though this is partially offset by elevated financial leverage and ongoing share repurchases.