Reinsurance News
Chubb news
News about international insurance and reinsurance group Chubb, including news about the company’s financial results, its new product launches, new hire news and other analysis or insight about Chubb’s insurance and reinsurance offering.
Chubb launches new insurance product
24th May 2021
Global insurer and reinsurer Chubb has introduced a new insurance product, Benchmarq Package, for the lower middle market segment. Benchmarq includes an expanded base coverage offering in both property and liability, resulting in insurance protection that is more inclusive than the typical industry package policies. While Benchmarq's base offering is optimal for ... Read the full article
Chubb hires Richard Williams as President of Combined Insurance
20th May 2021
Global insurer and reinsurer Chubb has appointed Richard Williams as President of Combined Insurance. Williams appointment takes place effective immediately, and will oversee all Combined business operations, management, and growth strategies. He will report to Joe Vasquez, who has been leading Combined since late 2019. Vasquez will continue in his role as Senior ... Read the full article
Chubb partners with Marsh to provide coverage for COVAX program
30th April 2021
Chubb and Marsh have collaborated with the World Health Organization (WHO) and Gavi, the Vaccine Alliance (Gavi), to provide coverage for The COVAX No-fault Compensation. The program offers lower-income countries and economies a process to receive compensation for events associated with vaccines distributed through COVAX up to the end of June ... Read the full article
The Hartford chapter “is closed” says Chubb CEO Greenberg
28th April 2021
During insurer and reinsurer Chubb's first-quarter 2021 earnings call held earlier today, Chairman and Chief Executive Officer (CEO), Evan Greenberg, said that "the chapter with The Hartford is closed." Earlier this week, U.S. property and casualty insurer The Hartford revealed that it had rejected a further two unsolicited acquisition offers ... Read the full article
Chubb’s P&C underwriting income hits $622m despite elevated cat losses
28th April 2021
Global re/insurer Chubb has announced a P&C combined ratio of 91.8% for the first-quarter of 2021 and underwriting income of $622 million, despite pre-tax catastrophe losses, net of reinsurance and including reinstatement premiums, of $700 million for the period. When compared with the first-quarter of 2020, Chubb's P&C combined ratio has ... Read the full article
WTW licences Radar Live software to Chubb
26th April 2021
Insurance Consulting and Technology broker Willis Towers Watson has licensed its pricing delivery software Radar Live to Chubb. Radar Live is designed to integrate across multiple channels and provide commercial insurers with increased pace and agility to generate and benefit from ever more sophisticated insights. Chubb will be able to leverage advanced ... Read the full article
The Hartford rejects two additional acquisition offers from Chubb
22nd April 2021
U.S. property and casualty insurer The Hartford has rejected further unsolicited acquisition proposals from re/insurer Chubb, which in turn has expressed disappointment over a lack of engagement. Alongside the release of its first-quarter 2021 financials today, The Hartford has announced the receipt and rejection of two additional acquisition offers from global ... Read the full article
Chubb makes two senior leadership appointments
14th April 2021
Global re/insurer Chubb has announced two leadership appointments within its North America Accident and Health (A&H) business. Suresh Krishnan, Chubb's current Chief Operating Officer, North America Accident and Health, has been named Executive Vice President, Head of North America Specialty Accident and Health. In this expanded role, he will look to grow ... Read the full article
Chubb hires Lyndsey Christofer as EVP
14th April 2021
Global re/insurer Chubb has appointed Lyndsey Christofer as Executive Vice President, Construction Industry Practice Leader for its large account segment. She will oversee strategic direction whilst leading a broad team of dedicated construction underwriting and service specialists across multiple lines of business to deliver customised and innovative insurance solutions to Chubb's ... Read the full article
Chubb “disappointed” by The Hartford rejection
29th March 2021
Global re/insurer Chubb has released a statement saying it is “disappointed” by The Hartford’s decision to reject its $23.24 billion acquisition offer. The Hartford's board unanimously rejected Chubb's takover bid last week on the basis that such a transaction "would not be in the best interests of the company ... Read the full article
Allianz considering offer for The Hartford after Chubb rejection: reports
29th March 2021
German re/insurer Allianz is exploring an offer for The Hartford, after the U.S. property and casualty insurer rejected a recent offer from Chubb, according to Bloomberg reports. Bloomberg, citing people familiar the matter, reports that Allianz is discussing options with potential advisers and views The Hartford as one of the remaining ... Read the full article
49% of industry participants felt Chubb would need a higher bid to land Hartford
26th March 2021
Having approached our industry contacts following news that Chubb was lining up an acquisition attempt for rival insurer Hartford, Reinsurance News found 49% believed a higher asking price would be needed for the mega transaction to go ahead. Interestingly our findings came just hours before The Hartford’s board rejected ... Read the full article
Major re/insurance players commit $2mn to Oasis Loss Modelling Framework
23rd March 2021
A number of the world’s biggest players in re/insurance have committed additional funds to support the development of open source catastrophe modelling platform Oasis. Companies include Aon, Allianz, AXA, Chubb, Guy Carpenter, Hannover Re, Lloyd’s, RenaissanceRe, Swiss Re, SCOR, Willis Re and the Insurance Development Forum. The supporting international re/insurers and brokers ... Read the full article
The Hartford Board unanimously rejects Chubb acquisition offer
23rd March 2021
After consultation with its financial and legal advisors, The Hartford has announced that its Board of Directors has unanimously rejected re/insurer Chubb's approximately $23.24 billion acquisition offer. Following reports in the media that Chubb had approached carrier The Hartford over a potential acquisition, Chubb later confirmed it had made ... Read the full article
Chubb approaches The Hartford over $23.24bn combination
19th March 2021
Global insurer and reinsurer Chubb has confirmed that it has made an approximately $23.24 billion acquisition offer for The Hartford, valuing the firm at $65 per share. Late yesterday, reports emerged that Chubb was considering the takeover of rival insurer The Hartford. Chubb has now confirmed that on March 11th, it ... Read the full article
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