Chubb
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Lawyers have requested that a Delaware judge issue a court order to force Chubb to divulge paperwork about the 1995 and 1996 changes at INA. -
The carrier faces down an AGM rebellion, with the CEO approved in his dual role.
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Chubb discipline, Hartford reluctance and investor lassitude combine to impede a transaction.
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The Covax scheme provides $150mn to compensate individuals in lower income countries affected by rare but serious complications from Covid-19 vaccines.
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The Chubb CEO seeks to quash speculation the carrier may return with a sweetened takeover proposal.
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Chubb could choose to grow organically but a merger might help it leapfrog in its SME capabilities.
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Headline underwriting income fell by 20% in the quarter, after catastrophe losses cost $700mn, up from $237mn the year before.
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The CEO also says M&A remains a “low priority” for the carrier and that he doesn’t see any further outsized liability exposures in the portfolio after settling with BSA.
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Chubb reiterates its disappointment about The Hartford’s refusal to engage.
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Chubb offered to pay up to $70 per share for the business after its $65 offer was publicly rejected.
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The carrier says jury awards are rising while the size of insurance limits purchased is declining.
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