Chubb
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Allstate shares shrink 5.3 percent, while Axis shares lose almost 5 percent of their market value.
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He will lead the large account segment, succeeding Bill Hazelton, who is now head of North America claims.
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The move comes amid a global portfolio review at Allianz’s flagship commercial insurance unit. -
Jarrod Schlesinger said insurers should engage with industry groups on the issue.
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The comments came as Chubb shares rose more than 6.3 percent following the release of fourth quarter results.
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Chubb reported a Q4 beat, and provided compelling evidence it is emerging as a cyclical winner out of the market disruption.
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The lawsuit over $74mn in losses from a 2013 data breach is closely-watched by the cyber insurance market.
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Wildfires, tornadoes and civil unrest in Hong Kong and Chile contributed to losses.
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Ben Rockwell, James Williamson and Alex Wells have taken new leadership roles at Chubb’s North America business.
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The Swiss carrier has agreed to purchase an additional 15 percent stake in the Chinese group and plans on taking another 7.1 percent slice.
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Jason Keen will take over from Matthew Shaw, who is leaving the company.
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The CEO says pricing on London wholesale lines was up 17 percent in the quarter.
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