Chubb beats on earnings as P&C underwriting income climbs 11.7% to $1.46bnChubb reported third quarter earnings that included a P&C combined ratio that improved 70 basis points (bps) to 87.7 percent despite higher cat losses that included a $250mn loss pick for Hurricane Helene, as CEO Evan Greenberg revealed property and casualty pricing remained ahead of loss-cost inflation.
Swiss Re and Chubb targeted in second day of climate protestsMembers of Extinction Rebellion’s Insure Our Survival campaign have blockaded 30 St Mary’s Axe – also known as the Gherkin – in the second day of targeted action against the UK insurance sector’s alleged involvement in new fossil fuel infrastructure.
Chubb promotes Benson to lead North American multinational businessChubb has appointed Tim Benson as executive vice president, multinational insurance leader, succeeding Laura Vest, who is retiring from the company after 20 years.
Chubb forms UK&I construction industry practice targeting £10mn+ contractorsChubb has launched a new construction industry practice across the UK and Ireland.
BofA downgrades Chubb and Hartford after extended rally in P&C UW stocksAnalysts from BofA Securities have downgraded Chubb to “underperform” and The Hartford to “neutral”, noting that they are becoming more cautious on the outlook for commercial P&C stocks following strong year-to-date performance.
Chubb’s US and Bermuda operating subsidiaries upgraded to A2 by Moody’sMoody’s Ratings has upgraded the insurance financial strength ratings of Chubb's principal US and Bermuda operating subsidiaries to Aa2 from Aa3, with the rating agency citing the insurer’s “strong and steady profitability with healthy capitalisation”.
Chubb adds QBE’s Giardiello as global controllerChubb has appointed former QBE deputy finance chief operating officer Greg Giardiello as global controller.
Chubb promotes Christofer to EVP, head of NA casualty for major accountsChubb has appointed Lyndsey Christofer as executive vice president, head of North America casualty for major accounts.
Chubb leads airlines all-risk cover for crashed Voepass aircraftChubb leads the airlines all-risk cover for the Voepass aircraft that fatally crashed in Brazil after spiralling out of control, The Insurer can reveal.
Chubb hires BHSI’s Metzger for senior European roleChubb has recruited Leander Metzger from Berkshire Hathaway Specialty Insurance (BHSI) for a senior European role which will include leadership of its German operations.
Greenberg calls out “simply not smart” financial lines UW environmentOverall P&C conditions “remain favourable” but the underwriting environment in several financial lines classes is “simply not smart”, Chubb’s Evan Greenberg has declared, as he revealed the carrier continues to lean into the high-net-worth personal lines space.
Chubb Q2 P&C UW income flat as CR ticks up 1.4 points on catsChubb ended Q2 2024 with P&C underwriting income of $1.42bn that was essentially flat while its combined ratio ticked up by 1.4 points to 86.8 percent on increased catastrophe losses and slightly lower favourable prior period development.
Chubb picks Howell to succeed Kelaher to lead Australia & NZ GI businessChubb has named Ben Howell as country president of the company's general insurance business in Australia and New Zealand.
Chubb names Kelaher to lead EMENA regionChubb has appointed Peter Kelaher as division president for continental Europe, the Middle East and North Africa, succeeding Sara Mitchell who is set to leave the company.
Chubb appoints Sosa, Romanelli and Martinez as LatAm territory leadersChubb has reorganised its Latin America region into three sub-regions – Northern Latin America, Southern Latin America and Brazil – and appointed leaders for each territory.
Chubb names Lupica president of E&S unit Westchester among further NA leadership changesDavid Lupica has been promoted to vice president of Chubb Group and division president of its $4bn-premium E&S unit Westchester, with the insurer also announcing several new leadership roles across North America lower middle market and small commercial.
Chubb rejigs US leadership with McNamee taking charge of internationalChubb has unveiled a series of management changes that will see John Lupica become executive chairman of its North American general insurance business, with Paul McNamee taking charge of its international general insurance operations.
Chubb: Delta between liability loss cost trend and limits purchased widening at “alarming pace”The frequency of severity of liability losses continues to worsen in North America, but there is little change to the limit purchasing trends seen over the past several years, a Chubb report analysing trends in ten sectors has concluded.
Chubb’s Greenberg: Insurers “can help to catalyse corporate America” to tackle social inflationChubb chairman and CEO Evan Greenberg has reiterated his stance that the industry cannot play “out front” in tackling social inflation but should instead serve as a catalyst for corporate America – which is facing rising casualty rates and risk sharing – to address the issue.
Chubb builds aviation presence in Australia with Catalyst buyChubb has penned a definitive agreement to acquire Catalyst Aviation Insurance, a Melbourne-based MGA that specialises in general aviation insurance for the Australian market.