If Terminated After ACE Takeover, Chubb CEO Finnegan Due $93M

By and Brandon Kochkodin | July 1, 2015

  • July 2, 2015 at 1:13 pm
    MeIsEinstein says:
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    If someone ever wants to terminate my retail P&C agency and me and offers $93 million… deal!

    • July 2, 2015 at 2:24 pm
      Agent says:
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      Wow, what a golden parachute. He should take his money and leave before Obama can get hold of him.

      • July 2, 2015 at 4:19 pm
        insurance102 says:
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        Hidden due to low comment rating. Click here to see.

    • July 2, 2015 at 4:13 pm
      integrity matters says:
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      I wonder if Scott Boras is his agent??

  • July 2, 2015 at 2:38 pm
    Jadefox says:
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    Well now we know why the Ace deal “made sense”! $93MM is a nice bonus that will be paid by office closings, layoffs, consolidation and other competitive, cost savings activities. Let’s face it, only the big dogs make out on these deals.

    Odd how those with all the information somehow end up with all the money. Thought there were laws against insider dealing.

    The only saving grace is that certain branch managers may get shown their walking papers. Karmic payback for what they did to worker bees as they enhanced their pocket books.

    • July 2, 2015 at 4:09 pm
      integrity matters says:
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      His golden parachute was agreed upon long before this merger ever was conceived.

      As the CEO, his job was to create increasing value of the stock price for the shareholders. Mission accomplished from what I can tell.

      • July 2, 2015 at 8:07 pm
        Don't Call Me Shirley says:
        Hot debate. What do you think?
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        As the CEO, he single-handedly increased the stock value, while all of the employees did nothing? I don’t think so. This guy is just another scumbag crook, robbing the American people.

        • July 6, 2015 at 4:33 pm
          intergrity matters says:
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          He didn’t take a dime out of my pocket. I wish I could say the same about that lying scumbag, Obama.

  • July 2, 2015 at 2:46 pm
    Tom Roti says:
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    So what do the “regular” employees get if they are “laid off, fired or reduced salary”?
    This sounds like bad business!!
    Good for the one guy getting $93Mil.
    Where is the “Board” on this?!

    • July 2, 2015 at 4:12 pm
      integrity matters says:
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      Those they get laid off will likely get severances commensurate with their positions, salaries and length of service. It won’t equal $93MM, but it will likely be as fair as possible given the circumstances.

      Actually, it’s good business for the shareholders. Hopefully, those getting laid off will have some of that stock to cash in on.

      I think the board already approved.

  • July 2, 2015 at 7:00 pm
    Yogi Polar Berra says:
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    A Finnegan mulligan would cost ‘ACHE’ $93M?

    That sounds like a termination of a political appointee who did something bad and has to be ‘thrown under the limousine’ (sic) to end bad publicity; e.g. Lois Lerner. But we know better, and should ask what justification was given by the BoD for this comp poison pill? Surely, it isn’t based on ‘addition by subtraction’ per his good track record. I wonder if ‘ACHE’ stockholders would vote ‘ok’ to paying $93M to retire him 18 months earlier than was planned?

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