Chubb

Thomas Caldecot Chubb + son Percy found Chubb & Son Apr 1882 at 90 Wall Street NYC; initially marine cargo underwriters for transatlantic shipping. Family-controlled until 1967 IPO. Defines premium underwriting culture — 'pay claims promptly, pay generously, never welch' — sets the standard for HNW personal lines.

Chubb IPO 1967 — Chubb family takes specialty marine + commercial property insurer public on NYSE after 85 years of private ownership. Stock soars 3x over next decade as Chubb's HNW homeowners + executive professional lines (D&O) become category-defining premium products.

Chubb dominates HNW homeowners 1980s-1990s — 'Masterpiece' policy becomes premium category-defining product for $1M+ homes. Chubb's blanket coverage + concierge claims + appraised valuables coverage set HNW insurance category that Chubb still leads in 2025.

Chubb names John Finnegan CEO 2002 + John Degnan COO 2002 — transformation team takes over premium personal lines + commercial specialty insurer. Chubb stock recovers from $50 (2001) to $130 by 2005. Sets stage for 2008 transition to Ev Greenberg-style aggressive global expansion.

ACE Ltd founded 1985 in Bermuda; Brian Duperreault CEO 1994-2004 transforms ACE from XL spinout into global commercial specialty insurer. Evan Greenberg (Hank's son) becomes ACE CEO May 2004 after his AIG exit Sep 2000. Greenberg accelerates ACE's commercial P&C global buildout.

Hurricane Irene Aug 27 2011 hits East Coast — $7B insured losses. Chubb's commercial property + HNW homeowner book takes large share. Tests Chubb's premium pricing post-recession. John Finnegan CEO; sets stage for Chubb's eventual 2016 ACE acquisition.

Evan Greenberg becomes ACE Ltd CEO 2004; consolidates Bermuda-Swiss commercial specialty insurer through 2010s. ACE writes specialty commercial P&C + global accident/health — establishes premium position in large-account underwriting. Sets stage for Chubb acquisition 2016.

ACE Ltd acquires Chubb Corp Jan 2016 for $29.5B in cash + stock — ACE pays 30% premium for Chubb's premier US personal lines + commercial specialty franchise. Combined entity adopts Chubb name; Evan Greenberg CEO. Becomes world's largest publicly traded P&C insurer by market cap.

Chubb post-ACE merger 2016-2025 — Evan Greenberg builds premier global commercial P&C + HNW personal lines; stock 2x's 2016-2024 from $130 to $295. Combined ratio consistently 84-88% (best in major US insurers). Chubb's Bermuda HQ + global commercial focus + premium underwriting culture define category.

Chubb 2020-2024 hard market — Chubb commercial P&C pricing up 10-25%/year; combined ratio improves to 84%. Stock 2x's 2020-2024 from $135 to $290+. Evan Greenberg's premium positioning + Bermuda capital efficiency + global commercial focus deliver category-best results.

Chubb 2020 COVID — $1.4B in claims (event cancellation, business interruption denials, mortality). Evan Greenberg CEO leads charge against business interruption coverage claims — argues policies excluded pandemic; succeeds in most courts. Chubb stock $135 (Mar 2020 trough) → $190 (EOY 2020) recovery.

Chubb FY2024 — Evan Greenberg reports $50B+ premium globally; net income $9.3B; combined ratio 86%. Stock $290 all-time high. Chubb maintains category-best results across commercial P&C + HNW personal + Asia life/AH. Greenberg gives no succession timeline at age 70.

Chubb Q4 2024 — Evan Greenberg CEO reports record $5.2B underwriting income FY2024; combined ratio 86%. Stock $290+ all-time high. Chubb writes $50B+ premium globally; diversified across commercial P&C + HNW + life/AH (Asia). Greenberg, 70, gives no succession timeline despite 20+ years as CEO.

Chubb Q2 2025 — Evan Greenberg (CEO since 2004) reports record $2.2B underwriting income; combined ratio 84%. Stock $295+ (all-time high). Chubb's diversified global commercial + HNW personal lines + life/AH (Asia) deliver double-digit growth. Greenberg, 70, gives no succession timeline despite 20+ years tenure.