Chubb : Everything you need to know

Chubb: Everything you need to know

Headquarters address

Bärengasse 32, 8001 Zürich, Switzerland
Year established 1882
Size (employees) 31,000+
Global locations 54 countries, with executive offices in Bermuda, Canada, Chile, Singapore, Switzerland, United Kingdom, and United States
Gross written premiums US$52,013 million (2022)
Total assets US$199,144 (2022)
Underwriting expertise Automobile, homeowners, recreational marine and aviation and umbrella liability coverage, captive programs, political risk coverages, crop insurance, accident and health, life insurance, excess and surplus
Key people Evan G. Greenberg (chairman & CEO), John Keogh (president & chief operating officer), John Lupica (vice-chairman & president, North America insurance) 

About Chubb

Chubb is the among the world’s largest publicly traded property and casualty insurers, based on market capitalization of about $87 billion as of 2022. The company has operations in more than 50 countries and territories, and offers commercial and personal P/C insurance, in addition to personal accident and supplemental health insurance, reinsurance and life insurance. Chubb is a leading commercial lines insurer in the US, and is the largest financial lines writer globally. It is also the largest personal lines provider globally and leads in this line in the US as well, though almost 40% of the company’s business is transacted outside the country.

Chubb boasts a diverse group of clients, from mid-size and small businesses to multinational corporations, and high net worth individuals as well as those seeking to purchase personal accident, supplemental health, homeowners, life, automobile, and specialty personal insurance coverage. The insurer serves companies and affinity groups offering accident and health insurance programs and life insurance to employees or members, and services other insurers managing their exposures with reinsurance coverage. It is also an underwriting company with deep expertise across a range of industries and specialty coverage areas. Its claims handling service has the ability to handle claims big and small, and Chubb’s risk engineering services, comprised of over 400 risk engineers worldwide, help companies prepare for and minimize costly exposures.

Chubb employs more than 31,000 people worldwide. Its insurance companies have financial strength ratings of AA from Standard & Poor’s and A++ from A.M. Best, as of August 2021. Its parent company, Chubb Limited, is listed on the New York Stock Exchange and is also a component of the S&P 500 Index.

Read more: Chubb-designed board game scoops gaming industry award

A merging of two insurance giants

The Chubb Corporation was founded in 1882 when Thomas Caldecot Chubb and his son opened a marine underwriting business in New York City, focusing first on insuring ships and cargoes. Fast forward to 2016, the company was acquired by ACE Limited while retaining the Chubb name. ACE was established in 1985 to answer a need in the US insurance marketplace for excess liability, and directors and officers coverage. It expanded its product offerings over the following decades and at the time of its Chubb acquisition, ACE was a leading global insurer with customers from multinational companies as well as individuals across the globe.

What products does Chubb offer?

Chubb’s impressive portfolio of products spans a variety of lines, from commercial P/C insurance products for businesses of all sizes to personal lines –automobile, homeowners, recreational marine and aviation and umbrella liability coverage, to name a few – but also includes captive programs, political risk coverages, crop insurance, accident and health, life insurance, excess and surplus lines, along with many others, though offerings vary across regions.

Industry practices are likewise varied, and include clean tech, construction, cultural institutions, healthcare, private equity, real estate, technology, and many more. Commercial coverages are equally diverse, with cyber, management liability, commercial auto, but also railroad liability, transactional risk, foreign casualty, and mergers and acquisitions, alongside a full roster of other products.

Chubb’s products are distributed through retail and wholesale brokers, independent and captive agents, as well as bancassurance, mobilassurance, direct marketing, and other channels. For brokerages, Chubb provides tools, resources and programming, such as product training, to help its partners succeed.

Read more: Chubb on manufacturers not being prepared for risks

In the news

ABIR member companies to host more than a hundred summer interns

REINSURANCE

ABIR member companies to host more than a hundred summer interns

Bermudian students to receive re/insurance experience opportunities

Liability losses are creeping up on US corporates – Chubb

INSURANCE NEWS

Liability losses are creeping up on US corporates – Chubb

"Nuclear verdicts" showcasing a widening gap

ANV brings transactional risk proposition to the US

INSURANCE NEWS

ANV brings transactional risk proposition to the US

New business unit heads announced

Revealed – the top insurer for MPL

PROFESSIONAL RISKS

Revealed – the top insurer for MPL

Companies were ranked in terms of claims and DPW

Revealed – world's best insurance companies for 2024

INSURANCE NEWS

Revealed – world's best insurance companies for 2024

Lists span home, auto, and life insurance

Keep up with the latest news and events

Join our mailing list, it’s free!