The Chubb Corporation is an American company, based in New Jersey, that focuses on selling property and casualty insurance products and services.
It is a holding company for several, separately organized, property and casualty insurance companies – informally known as the Chubb Group of Insurance Companies (the P&C Group).
The company claims to be the 12th largest property and casualty insurer in the United States, reporting $50.4 billion in assets and $13.9 billion in revenues in 2013.
It has 120 offices across 26 countries and a team of approximately 10,200 employees.
Chubb provides its services to businesses and also individuals:
Business products include: Professional & Management Liability, Property & Casualty Insurance, Accident & Health Insurance, Surety Bonds, Industry Solutions, and Loss Control Services.
Individual products include: Auto Insurance, Home Insurance, Valuable Articles Insurance, Watercraft Insurance, Excess Liability Insurance, Family Protection coverage, and Collector Car Insurance.
As of January 2014, the main insurance companies that form part of the P&C Group, based in the United States, are: Federal Insurance Company, Chubb Custom Insurance Company, Pacific Indemnity Company, Chubb National Insurance Company, Executive Risk Indemnity Inc., Executive Risk Specialty Insurance Company, Great Northern Insurance Company, Chubb Lloyds Insurance Company of Texas, Vigilant Insurance Company, Chubb Insurance Company of New Jersey, and Chubb Indemnity Insurance Company.
Insurance companies that form part of the P&C Group, outside the US, are: Chubb Insurance Company of Europe SE, Chubb Insurance Company of Australia Ltd., Chubb Insurance Company of Canada, Chubb Argentina de Seguros, S.A., and Chubb do Brasil Companhia de Seguros.
The history of the company traces back to 1882, when Thomas Caldecot Chubb and his son Percy launched a marine underwriting business in New York City.
At the turn of the century Chubb had established strong ties with insurance agents and brokers who placed their clients’ business with Chubb underwriters.
In June 1967 Chubb was incorporated as a business corporation under the laws of the State of New Jersey and in 1984 the Chubb Corporation went public on the New York Stock Exchange (NYSE) under the stock ticker symbol ‘CB’.
- Chairman, President, and CEO: John D. Finnegan
- CFO: Richard G. Spiro
- Type: Public
- Industry: Insurance
- Listed on the New York Stock Exchange (NYSE)
- NYSE stock ticker symbol: CB
- S&P 500 Component
- Revenue: $13.947 billion USD (2013)
- Net income: $2.345 billion USD (2013)
- Diluted earnings per share: $9.04 USD (2013)
- Employees: 10,200 (2013)
- Corporate headquarters: 15 Mountain View Road , Warren, New Jersey, USA
- Corporate contact number: (908) 903-2000
- Website: http://www.chubb.com/
|Net Revenues (in $ millions)||2013||2012|
|Total Realized Investment Gains, Net||$402||$193|
|Losses and Expenses (in $ millions)|
|Losses and Loss Expenses||$6,520||$7,507|
|Amortization of Deferred Policy Acquisition Costs||$2,454||$2,411|
|Other Insurance Operating Costs and Expenses||$1,411||$1,362|
|Total Losses and Expenses||$10,710||$11,599|
|Income Data (in $ millions)|
|Income Before Federal and Foreign Income Tax||$3,237||$1,996|
|Federal and Foreign Income Tax||$892||$451|
|Balance Sheet Data (in $ millions)|
|Total Stockholders’ Equity||$16,097||$15,827|
|Common share data (in $)|
|Basic earnings per common share||$9.08||$5.73|
|Diluted earnings per common share||$9.04||$5.69|
Source: “The Chubb Corporation Form 10-K 2013”