Chubb
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Of the $170mn cat losses outside LA wildfires, US cat activity accounted for 74% and international cats 26%. -
Reserve releases at Chubb rose to $255mn from $207mn a year ago.
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The executive has spent over 20 years at Chubb.
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A positive outcome could significantly curb insurers’ exposure to the loss.
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Joe Cala will leave the carrier after nearly 13 years on the product recall team.
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The decision comes after the agency refused to block a climate related vote at Travelers.
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Of the 178 passengers and crew on board, no serious injuries have been reported.
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CEO Greenberg cited ‘competing priorities’ in his annual letter to shareholders.
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The move combines two units in the North America middle market division.
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Last year, the firm consolidated financial and excess liability lines under the leadership of Richard Porter.
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Delegated underwriters are seeing an opportunity to write in the PVT market as an add-on to property coverage.
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Under the new guidelines, the carrier is requiring more distance from the brush.
Related
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Chubb appoints Gillston EVP, head of global casualty NA
February 04, 2025 -
Chubb appoints Houston to lead UK commercial division
January 30, 2025