Chubb News

AIG Focuses on Integrating Japan Businesses, Rather Than Additional M&As

American International Group Inc. plans to sit out the unprecedented wave of insurance industry deal-making and instead focus on integrating businesses in Japan. The timetable for merging AIU with Fuji Fire & Marine has been pushed back to 2016 or …

ACE Q2 Profit Climbs in First Earnings Report After Chubb Announcement

ACE Ltd., the insurer that agreed this month to acquire Chubb Corp., said second-quarter profit rose 21 percent as policy sales climbed. Net income increased to $942 million, or $2.86 a share, from $779 million, or $2.28, a year earlier, the …

Update: AXIS Capital, PartnerRe Sweeten Deal with Higher Special Dividend

  Specialty insurer and reinsurer AXIS Capital Holdings Ltd and PartnerRe Ltd agreed to sweeten the terms of their merger agreement to fend off a rival bid from Italy’s EXOR SpA. The companies agreed on Thursday to raise the special dividend component to $17.50 …

WKFC Launches Miscellaneous Professional Liability Program

Ryan Specialty Group’s WKFC has launched a miscellaneous professional liability program with the Chubb Group of Insurance Cos. (Chubb). The miscellaneous professional program is available for more than 100 classes of business that are not covered by traditional coverage. The …

Chubb Estimates Q2 Catastrophe Losses at $240M

The Chubb Corp. estimates that catastrophe losses in the second quarter will be approximately $240 million before tax, or $156 million after tax ($0.60 per share after tax). The company said that about $175 million of the losses before tax …

N.Y. Reaches Reform Agreements With 4 Additional ‘Force-Placed’ Insurers

New York officials announced that the state’s “force-placed” insurance reforms will now cover 100 percent of the New York market after the New York State Department of Financial Services (DFS) reached agreements with the four remaining New York force-placed insurers …

Tiny Southern California Agency Earns B Corp Status

Merely bringing your A-game may not be enough to entice certain companies to give you their business, especially those who are looking for environmentally or socially conscious partners. Following the challenging recession period the “green” movement seemed to take a …

Chubb Estimates $570 Million Net Loss From Superstorm Sandy

The Chubb Corporation announced it estimates its losses from Sandy to be approximately $880 million before tax — or $570 million after tax.These amounts include estimated losses and loss expenses net of reinsurance recoverable and also include estimated reinsurance reinstatement …

Chubb Profit Slightly Down; U.S. Commercial Renewal Rate Hike 9% in Q2

The Chubb Corp. reported $404 million profit for its second quarter, declining 3.6 percent from $419 million reported a year earlier. The results were hampered by weaker investment results and significant catastrophe losses, though smaller compared to the cat losses …

Chubb: $506M Q1 Income, Business Insurance Renewal Prices Edge Up

The Chubb Corporation reported $506 million in net income for the 2012 first quarter, down slightly — 0.59% — from $509 million income reported one year ago. The insurer’s underwriting profit improved significantly, but it was offset by weaker realized …