Chubb News

Former Chubb Chairman, CEO O’Hare Passes Away at 75

Chubb Limited announced today the passing of Dean R. O’Hare, former chairman and chief executive officer of The Chubb Corp. who served the company for almost 40 years before retiring in 2002. He was 75. O’Hare joined The Chubb Corp. …

Europe’s Re/Insurers Cut Coal Investments by $20B; U.S. Firms Fail to Act: Report

Insurers have pulled $20 billion out of coal investments, but most are European and none of the top nine U.S. insurers has taken “meaningful action,” campaign group Unfriend Coal said on Wednesday. Government representatives and officials at this week’s U.N. …

Hedge Funds Invest in Reinsurance Stocks on Expected Rate Hikes in 2018

Hedge funds bought reinsurance stocks in the third quarter after prices tumbled on widespread losses after multiple hurricanes in North America, filings showed on Wednesday. Hurricanes in the United States and the Caribbean in August and September are expected to …

Insurers Had Crews Working in Heart of California Wildfires to Prevent Loss

“It was all hands on deck.” That apt description of the reaction to the deadly outbreak of wildfires that ravaged California in October was from Stephen Poux, global head of risk management and loss prevention for AIG’s private client group. …

Chubb Launches Commercial Division for SMEs in Asia Pacific

Chubb announced it has formed a division in Asia Pacific dedicated to the risk management needs of small- and medium-sized enterprises (SMEs). This new business division, which is named the Small Commercial Division, focuses solely “on delivering a sustainable value …

Growing List of Re/Insurers Make Decisions on Post-Brexit EU Headquarters

Everest Re Group Ltd. has said its Dublin-based unit has received approval from the Central Bank of Ireland to become a non-life insurer, joining a growing list of insurers setting up regulated EU operations in case Britain does not have …

Chubb Taps Hiscox’s Hosking, Promotes Bear to UK Middle Market Broker Roles

Chubb has announced the appointment of two new positions within its Middle Market Independent Broker segment. Hannah Hosking has been appointed as Head of Distribution – Independent Brokers UK&I, while Steve Bear has been appointed as Independent Broker Team Manager …

UPDATE 2: Global Re/Insurers Estimate Price Tag of Q3 Hurricanes & Quakes

Losses from Hurricane Maria and other recent 2017 natural catastrophes, including Hurricanes Irma and Harvey, the Mexico City earthquakes and other events, have led global insurers and reinsurers to issue profit warnings. Below are statements from insurers and reinsurers in …

Chubb Enters Bancassurance Distribution Agreement with Singapore’s DBS Bank

Chubb Ltd. announced it has entered into a 15-year distribution agreement with DBS Bank, the largest banking group in Southeast Asia. Under the terms of the agreement, Chubb will distribute general insurance products on an exclusive or preferred basis through …

EU Regulator Warns UK Insurers to Avoid ‘Fronting’ in Post-Brexit EU HQs

London-based insurers applying for licenses to operate in the European Union after Brexit will be scrutinized for any attempts to game the system, the bloc’s insurance watchdog said. Insurance specialists say some insurers have been shopping around for jurisdictions which …