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 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.
Chubb (NYSE: CB) announced key leadership changes in Latin America with two strategic appointments. Mario Romanelli has been named Regional President South America, overseeing operations in Argentina, Brazil, Chile, Colombia, Ecuador, and Peru from Miami. Diego Sosa becomes Regional President Northern Latin America, continuing to lead operations in Mexico, the Caribbean, Central America, Panama, and Puerto Rico. Both will report to Paul McNamee, Executive Vice President, Chubb Group and President, Chubb Overseas General. The changes are effective immediately, following Federico Spagnoli's departure from his role as Regional President, Latin America.
Chubb (NYSE: CB) reported strong Q3 2024 financial results with net income of $2.32 billion (up 13.8%) and core operating income of $2.33 billion (up 14.3%). Global P&C net premiums written increased 8.5% in constant dollars, with commercial insurance up 8.1% and consumer insurance up 9.4%. The company achieved a P&C combined ratio of 87.7% with underwriting income of $1.46 billion (up 11.7%). Pre-tax catastrophe losses were $765 million, including $250 million from Hurricane Helene. Life Insurance net premiums written grew 10.6% in constant dollars to $1.55 billion. Book value per share increased 8.0% to $163.16, while tangible book value per share rose 12.8% to $102.67.
Chubb's new global survey, "The Impact of Cyber Scams on Trust in Digital Payments," highlights the rising impact of cyber fraud on consumer trust and behavior. Conducted across the U.S., Mexico, Brazil, Indonesia, Singapore, the Philippines, Thailand, and Vietnam, the survey reveals that 61% of respondents have altered their use of digital payment platforms due to cyber scam concerns. Additionally, 75% believe transaction insurance would enhance their trust in these platforms. The survey notes that 63% of respondents have been victims of cyber scams or know someone who has been. Key concerns include phishing/vishing, impersonation scams, and fake purchases. Demographic highlights show higher scam victim rates among women in Asia (33%) and younger people in the U.S. (33%) and Asia (34%). The study underscores the need for insurance solutions to foster trust and protect consumers in the digital payments ecosystem.
Chubb (NYSE: CB) has announced its upcoming third quarter earnings conference call, scheduled for Wednesday, October 30, 2024, at 8:30 a.m. Eastern. The company plans to release its third quarter earnings and financial supplement after market close on Tuesday, October 29, 2024. These documents will be accessible on Chubb's investor website at investors.chubb.com.
Investors and interested parties can participate in the earnings conference call via a live webcast on the company's website or by dialing in. The dial-in numbers are 877-400-4403 (within the United States) and 332-251-2601 (international), with the passcode 1641662. A replay of the call will be available after the event, accessible through the same website or by registering for dial-in numbers.
Chubb (CB) has renewed its partnership with the USTA as the Official Insurance Sponsor of the US Open in a multi-year agreement starting in 2025. This extension follows their initial partnership in 2020 and comes after a record-breaking 2024 US Open that surpassed one million attendees for the first time. Evan G. Greenberg, Chubb's CEO, highlighted the alignment between Chubb's global client base and the US Open's passionate fans. USTA CEO Lew Sherr praised Chubb's commitment to excellence and its ability to help diverse clients navigate risks, which aligns with the US Open's values.
Chubb (NYSE: CB) has appointed Greg Giardiello as its new Global Controller, effective September 4, 2024. Giardiello, who will be based in Chubb's Philadelphia office, replaces Mong-Diep "Dee" Le, who has been named Chief Auditor. With over 30 years of experience in corporate finance and accounting, Giardiello joins Chubb from QBE Insurance Group, where he served as Deputy Finance Chief Operating Officer. His appointment is expected to bring fresh perspectives and complement the existing finance team's expertise.
Chubb (NYSE: CB) has announced three key executive appointments in its finance organization, effective September 4, 2024. George Ohsiek has been named Vice President, Chubb Group and Chief Accounting Officer, taking over from Annmarie Hagan, who will become Vice President, Chubb Group and Chief Financial Officer of Operations & Technology and Transformation. Mong-Diep "Dee" Le will succeed Ohsiek as Chief Auditor.
These appointments showcase the strength of Chubb's finance organization, with each executive bringing decades of experience within the company and the industry. The changes aim to enhance the company's financial management, technology initiatives, and audit functions. All three executives will report to Peter Enns, Executive Vice President, Chubb Group and Chief Financial Officer, with additional reporting lines for Hagan and Le.
Chubb 's (NYSE: CB) Board of Directors has declared a quarterly dividend of $0.91 per share. The dividend is payable on October 4, 2024 to shareholders of record at the close of business on September 13, 2024. This marks the second installment of the dividend approved by shareholders on May 16, 2024. The payment will be made in United States dollars from the company's legal reserves through its transfer agent. This announcement demonstrates Chubb's commitment to returning value to its shareholders through consistent dividend payments.
Chubb (NYSE: CB) has announced that its subsidiary, Chubb INA Holdings , has priced a public offering of $1.3 billion in senior notes. The offering consists of $700 million of 4.650% senior notes due 2029 and an additional $600 million of 5.000% senior notes due 2034. These notes are guaranteed by Chubb
The 2034 Notes are a further issuance of existing notes, forming a single series with $1 billion aggregate principal amount issued on March 7, 2024. Chubb intends to use the net proceeds for general corporate purposes, which may include redeeming, repurchasing, or repaying outstanding debt, including the repayment of €700 million of 0.30% senior notes due December 15, 2024.
The joint book-running managers for the offering are Wells Fargo Securities, , Barclays Capital Inc., and Citigroup Global Markets Inc.
AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of "a+" (Excellent) to Chubb INA Holdings 's recently announced USD 700 million issuance of 4.65% senior unsecured notes due 2029. The outlook is stable. AM Best also affirmed the Long-Term IR of "a+" on Chubb's USD 1.0 billion, 5% senior unsecured notes due 2034, with an additional USD 600 million offering. The notes are guaranteed by Chubb [NYSE: CB].
Chubb plans to use the proceeds for general corporate purposes, including potential debt repayment. As of June 30, 2024, Chubb had total assets of USD 238.6 billion and shareholders' equity of USD 61.0 billion. This rating action reflects AM Best's assessment of Chubb's financial strength and creditworthiness.