The Hartford
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The target says its board is committed to its existing business plan following the unsolicited proposal. -
Chubb yesterday said the proposed transaction structure would be a mix of stock with the majority in cash.
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The Evan Greenberg-led carrier confirmed last night it had made an offer to buy its smaller peer.
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The $65 per share bid looks like an opening salvo, with potentially another $10+ per share to come.
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The proposed consideration represents a mix of stock with the majority in cash.
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The carrier says its board of directors is "carefully considering" the proposal.
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The Hartford share price jumps 12% on report of deal talks with Chubb.
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Christopher Swift says more rate is needed in some areas including the London market and certain excess lines.
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The second week’s reporters continued to build upon the theme of rate momentum likely translating into ROE expansion.
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The carrier’s CEO says the pace of new lawsuits against the carrier is now largely in line with its peers.
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The carrier achieved rate rises of about 11% across its US commercial lines portfolio during Q4.
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The carrier's results during the quarter were also hurt by a $184mn reserve charge.
