Chubb

Chubb traces its history to the Insurance Company of North America, organized in Philadelphia in 1792. Thomas and Percy Chubb set up Chubb & Son in New York City in 1882, and The Chubb Corporation was formed in 1967.⁠[1]

The company was incorporated in 1985, when it established its business office in Bermuda.⁠[2]

ACE Limited was established in response to an availability crisis in the U.S. insurance market.⁠[3]

In 1993 ACE went public on the New York Stock Exchange.⁠[1]

In 1996 ACE entered the property catastrophe reinsurance market by acquiring Tempest Reinsurance Company Ltd. In 1999 it acquired Capital Re Corporation, expanding its financial reinsurance business, and the international and domestic property and casualty businesses of CIGNA Corporation.⁠[2]

ACE paid $3.45 billion for CIGNA’s property and casualty business, entering 50 countries.⁠[1]

Evan Greenberg, a former AIG executive and son of AIG CEO Hank Greenberg, joined ACE in 2001 and became chief operating officer in June 2003. In March 2004 ACE announced that he would become CEO effective May 27, 2004, succeeding Brian Duperreault, chairman and CEO since 1994.⁠[4]

In April 2006 ACE settled charges of bid-rigging, steering of business and accounting misconduct with the attorneys general of New York, Illinois and Connecticut for $80 million, including $40 million to repay policyholders. It also agreed not to pay contingent commissions on excess casualty placements through 2008.⁠[5]

In 2007 ACE’s board elected CEO Evan Greenberg chairman, effective at the company’s annual general meeting that May, replacing nonexecutive chairman Brian Duperreault, who remained on the board.⁠[6]

On July 18, 2008, ACE announced that it had completed the re-domestication of its holding company from the Cayman Islands to Zurich, Switzerland. Greenberg called it “an historic day for ACE.” Its common shares continued to trade on the New York Stock Exchange.⁠[7]

After the move ACE was removed from the S&P 500S&P 500The S&P 500 is a U.S. large-cap equity index compiled by S&P Dow Jones Indices. It includes 500 leading companies, covers about 80% of available market capitalization and is described by S&P DJI as “widely regarded as the best single gauge of large-cap U.S. equities.”Open the full entry, which at the time admitted only companies incorporated in the United States or in “domiciles of convenience” such as Bermuda and the Cayman Islands.⁠[8]

On July 8, 2010, Standard & Poor’s announced that ACE Limited would replace Millipore Corp. in the S&P 500 after the close of trading on July 14, timed to Merck KGaA’s acquisition of Millipore.⁠[9]

On July 1, 2015, ACE agreed to acquire The Chubb Corporation for $28.3 billion in cash and stock, or $62.93 in cash plus 0.6019 ACE shares per Chubb share. ACE shareholders would own about 70% of the combined company, which would remain a Swiss company, operate under the Chubb name globally and be led by Greenberg as chairman and CEO.⁠[10]

On January 14, 2016, ACE completed its acquisition of Chubb, creating the largest publicly traded property and casualty insurer. The parent was renamed Chubb Limited, and its shares began trading on the New York Stock Exchange as CB the next day. The company operated in 54 countries with about 30,000 employees.⁠[11]

S&P 500 constituent ACE changed its name to Chubb Limited after the merger, and Extra Space StorageExtra Space StorageExtra Space Storage Inc. is an American self-storage real estate investment trust (REIT) in the S&P 500 that describes itself as the largest U.S. self-storage operator.Open the full entry replaced The Chubb Corp. in the index after the close of trading on January 15, 2016.⁠[12]

On July 1, 2022, Chubb completed its $5.36 billion acquisition of Cigna’s personal accident, supplemental health and life insurance business in Korea, Taiwan, New Zealand, Thailand, Hong Kong and Indonesia. The Korean business kept the LINA name, while other markets were to be rebranded as Chubb.⁠[13]

In November 2022 Chubb announced that it would raise its stake in Huatai Insurance Group from 47.3% to 83.2%, expecting to close in the first quarter of 2023. Huatai Group is the holding company of Huatai Property & Casualty Insurance, Huatai Life Insurance and Huatai Asset Management.⁠[14]

Incremental purchases gave Chubb a controlling majority interest in Huatai Group on July 1, 2023. Its ownership was approximately 87.2 percent at December 31, 2025.⁠[15]

In May 2024 Berkshire HathawayBerkshire HathawayBerkshire Hathaway Inc. is a multinational conglomerate holding company headquartered in Omaha, Nebraska, United States (NYSE: BRK.A/BRK.B), with businesses spanning insurance, railroads, energy, manufacturing, and retail. Warren Buffett took control of the company in 1965 and ran it until 2025, and Greg Abel succeeded him as CEO at the start of 2026. The company long held stakes in several U.S. banks, including M&T (1991–2020), Bank of America, and Wells Fargo, which it successively reduced or exited between 2020 and 2024.Open the full entry disclosed a $6.7 billion stake in Chubb, which it had been building since 2023 and which the Securities and Exchange Commission had allowed it to keep confidential. Chubb stock rose as much as 9.9% in after-hours trading.⁠[16]

In the third quarter of 2025 Berkshire Hathaway acquired roughly 4.3 million additional Chubb shares.⁠[17]

Chubb’s full-year 2025 net income was $10.31 billion, or $25.68 per share. Consolidated net premiums written rose 6.6% to $54.8 billion, and the P&C combined ratio was a record 85.7%. Greenberg said the results “in virtually every category were the best in our company’s history.”⁠[18]

At December 31, 2025, total assets were $272 billion. The company employs approximately 45,000 people.⁠[15]

Chubb’s third-quarter 2026 net income was $2.84 billion, or $7.30 per share, and its nine-month net income was $8.02 billion. Its Strategic Holdings partnership with KKRKKRKKR (Kohlberg Kravis Roberts) is an investment firm engaged in alternative asset management, capital markets services, and insurance. Jerome Kohlberg, Henry Kravis, and George Roberts co-founded the firm in 1976. Its managed funds invest in private equity, credit, and real assets, and its subsidiary Global Atlantic operates retirement, life insurance, and reinsurance businesses. KKR listed on the New York Stock Exchange in 2010 under the ticker KKR.Open the full entry agreed to sell its investment in USI Insurance Services to Aon, with an expected realized gain of $460 million.⁠[19]