Chubb

Chubb launches scalable midmarket focused Benchmarq offering

Chubb has unveiled a new scalable lower middle market focused package product that will initially be offered in 29 states before being pushed out further across the US later this year and through its digital Chubb Marketplace platform in the fall.

Insurtech Waffle raises $5mn as launches with partnerships including Chubb and Arch

Insurtech agent Waffle has announced a $5mn seed round and the official launch of five product offerings from partners including Chubb, Crum & Forster, Markel and Arch.

ICA adds trio to board

The Insurance Council of Australia (ICA) has added representatives from Munich Re, IAG and Chubb to its board of directors.

Chubb and Marsh develop $150mn Covax compensation scheme

Chubb and Marsh have structured a $150mn no-fault compensation scheme for citizens of 92 lower-income countries who suffer a serious adverse reaction to a Covid-19 vaccine.

Chubb’s Greenberg: Conditions “excellent” despite rate increases slowing in Q1

Evan Greenberg has brushed off analyst concerns about Chubb’s decelerating overall rate increases, stating that “the conditions are excellent” and margins will continue to improve.

The Hartford’s shares trade down after Chubb ends interest

Investors reacted negatively to confirmation from Chubb that it has ended its pursuit of The Hartford with shares in both companies trading down in New York yesterday.

Chubb’s Greenberg: Chapter with The Hartford “is closed”

Chubb chairman and CEO Evan Greenberg has said that the carrier has moved along and “the chapter with The Hartford is closed” after having its latest two bids rejected by its smaller rival without any engagement in talks.

Chubb reports $657mn in US storm losses in narrow Q1 earnings beat

Chubb has reported core operating income of $1.14bn for the first quarter, compared with $1.22bn in the same period of 2020, while its combined ratio increased 2.7 points after $700mn of catastrophe losses, but improved on an underlying basis by 2.3 points to 85.2 percent.

The Hartford facing scrutiny over refusal to engage in Chubb bid talks

The Hartford’s chairman and CEO Christopher Swift is facing pressure from some of the US insurer’s shareholders to at least consider engaging in discussions with Chubb after stonewalling a series of unsolicited bids from its larger rival.

Chubb-The Hartford already connected via overlapping shareholders

More than a third of The Hartford’s shares are owned by asset managers which also have a shareholding in its rebuffed suitor Chubb, analysis by this publication reveals.

The Hartford makes independence case as analysts question Chubb discussions refusal

The Hartford’s refusal to enter into talks with Chubb over a potential takeover deal has raised questions as to what it would take for the company to enter discussions with a potential buyer.

Chubb “disappointed” at The Hartford’s refusal to engage in talks over potential deal

Chubb has restated its intention to remain a “disciplined acquiror” and reiterated its disappointment at The Hartford’s refusal to engage in talks over a potential combination of the two firms.

The Hartford rejects offers from Chubb at $67+ a share and $70 a share

The Hartford’s board of directors has rejected two higher offers from Chubb in the last three weeks, including a proposal “in excess of $67 per share” on 30 March and an increased bid of $70 per share on 14 April which its suitor’s CEO Evan Greenberg said was “the top of our range”.

Chubb makes North American A&H leadership changes to support client access

Chubb has reshuffled the leadership of its North America accident and health (A&H) business with Suresh Krishnan and Lauren Gorte both handed new roles in the team.

Chubb names Christofer large account construction practice lead

Chubb has appointed Lyndsey Christofer as construction industry practice leader for its large account platform, stepping up from her previous role heading up the insurer’s primary casualty construction team.

Influential Wall St analyst sceptical about much higher Chubb bid for The Hartford

KBW analyst Meyer Shields has said Chubb has a “fairly large number” of other potential acquisition targets to consider after The Hartford knocked back its unsolicited $65 per share offer last month.

Chubb says it is “disciplined acquiror” as The Hartford draws rival interest

Chubb has responded to the rejection of its preliminary $65 a share bid for The Hartford with a statement outlining its disappointment the Connecticut-based carrier did not engage in sales discussions as reports of counteroffers surfaced over the weekend.

Roberts succeeds retiring Charlton as Westchester small business SVP

Westchester, Chubb’s wholesale E&S insurance business, has appointed Dave Roberts as senior vice president of its small business division.

US Rep. Cleaver: Passing a pandemic insurance bill would be “very difficult”

As the industry continues to debate the insurability of pandemic risk, the chair of the House of Representatives subcommittee that oversees insurance has offered a pessimistic view of the prospects for succesfully passing pandemic insurance backstop legislation

Analysts: Higher bid for The Hartford likely

Equity analysts have reacted to The Hartford’s unanimous rejection of Chubb’s $65 a share offer by suggesting a higher bid from the Evan Greenberg-led insurer or rival suitors is likely.

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