Chubb Ltd. weathered claims from major storms in Texas and other U.S. states, Canadian wildfires and earthquakes in Japan and Ecuador in the second quarter to record solid operating results. Operating income at the giant insurer formed with the merger …
ACE’s $28.3 billion purchase of Chubb will create a major disruption in the luxury insurance market. When the integration of the two insurers is complete, the new company is anticipated to control approximately $6 billion of annual premiums on personal …
Chubb Chairman and CEO Evan Greenberg believes opportunity and incentives will encourage most executives to stay with the insurer in the wake of its recently completed mega-merger. “I don’t kid myself. We’re not going to keep everybody,” Greenberg said during …
ACE Ltd. and Chubb said they have received all necessary regulatory approvals and will close their $29.7 billion merger agreement today, Jan. 14 – six months after the companies first announced their surprise deal. The newly-combined company will use the …
Chubb Corp. shareholders opposed an $80 million golden parachute payment for Chief Executive Officer John Finnegan, who struck a deal to sell the insurer to Ace Ltd. About 61 percent of voting shareholders said no to the pay packages for …
The Chubb Corp. said its shareholders approved the previously announced $28.3 billion merger agreement with Ace Limited today. The proposal to approve the merger agreement received support from approximately 98 percent of the votes cast, the insurer said. In a …
Ace Ltd. Chief Executive Officer Evan Greenberg said it would be a mistake to start celebrating his agreement to buy Chubb Corp. for more than $28 billion, because the real test will be to integrate the insurers. “That execution takes …
In a major transaction, ACE Limited has agreed to acquire The Chubb Corp. for $28.3 billion in cash and stock. The balance sheet’s size and strength will elevate the combined company into the elite group of global P/C insurers. As …
Just a little over six months ago, ACE announced a deal to acquire the high-net-worth personal lines business of Fireman’s Fund from Allianz, competing against Chubb, which holds the leading position in the space. The announcement that ACE will buy …
The insurance industry believes that on the whole, the ACE Ltd. acquisition of Chubb Corp. is a good deal. Industry professionals see the deal as perhaps better for the parties involved than for the property/casualty insurance industry and a better …
