Greenberg downplays impact of asbestos talcum powder risk for industryThe chief executive of Chubb, Evan Greenberg, has talked down the potential impact that new asbestos claims stemming from talcum powder use could have on the insurance industry.
Chubb beats analyst expectations as premiums jump to $10bn in Q2Insurance giant Chubb has narrowly surpassed the expectations of analysts to deliver a $1.25bn profit in the first quarter as premiums neared the $10bn mark.
Chubb converts to European entity as Brexit planning plods onChubb has converted its European business into a Societas Europaea ahead of a move to France as it gears up for Brexit.
Aon and Chubb launch Lloyd’s terrorism and political violence facilityBroking house Aon and (re)insurer Chubb have collaborated to create a stand-alone terrorism and political violence solution at Lloyd’s, the two companies announced today.
Kendrick to retire from ChubbLondon market veteran Andrew Kendrick is to retire from Chubb at year-end and will be replaced in his role as head of Europe operations by David Furby from 1 July, Chubb announced today.
Chubb hits the mark in Q1 despite $380mn P&C cat billGlobal carrier Chubb met Wall Street’s expectations for the first quarter with earnings per share of $2.34 despite suffering a series of catastrophes which dealt a 5.6 percent hit to the group’s P&C combined ratio.
Chubb’s Greenberg takes aim at share buybacks and litigationIn a wide-ranging annual letter to shareholders, Chubb boss Evan Greenberg has criticised the industry’s tendency toward share buybacks to boost stock value and what he considers an “unnecessary tax on corporate America” from soaring legal costs hurting the D&O market.
Cats deal $380mn blow to Chubb in Q1Chubb has warned that it is expecting to take a $380mn natural catastrophe claims hit from a first quarter that brought mudslides in California and a string of storms in the north eastern US.
Chubb just misses as California losses creepChubb marginally underperformed against the expectations of equity analysts for the fourth quarter as its estimate of California wildfire losses crept to $447mn.
California regulator threatens profits cap only months after $12bn+ wildfire lossesDespite US and global (re)insurers facing a loss bill of over $12bn from the fourth quarter California wildfires, the populist state insurance commissioner Dave Jones (pic) has today (23 January) threatened to cap profits for state regulated insurers.