Chubb Limited history, company profile (overview) and history video
Chubb Limited is a global insurance company headquartered in Zürich, Switzerland. It provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, and reinsurance and life insurance to individuals and families, and businesses of all sizes.
CHUBB HISTORY
Chubb Limited was formed in 2016 when ACE Limited acquired Chubb Corporation.
ACE Limited
ACE Limited was established in 1985 in response to an availability crisis in the U.S. insurance marketplace for excess liability and directors and officers insurance coverage. It was founded by a group of 34 blue-chip companies from a broad range of industries, including health care, pharmaceuticals, manufacturing, transportation, utilities, oil and gas, banking, and the automotive industry.
In 1993, ACE went public on the New York Stock Exchange.
In 1999, ACE Limited acquired the Insurance Company of North America (INA), then part of Cigna Corporation.
Insurance Company of North America (INA)
The Insurance Company of North America (INA) was formed in 1792 after a series of meetings of a group of investors in Philadelphia’s Independence Hall. INA is the first marine insurance company in the United States and the nation’s first stock insurance company.
Chubb Corporation
Chubb Corporation’s origins date back to 1882 when Thomas Caldecot Chubb and his son Percy opened their marine underwriting business in the seaport district of New York City. Having collected $1,000 from each of 100 merchants to start their venture, they focused initially on insuring ships and cargoes.
The Chubb Corporation was formed in 1967 and was listed on the New York Stock Exchange in 1984.
With more than 31,000 employees and operations in over 54 countries, Chubb Ltd. is considered one of the world’s largest publicly traded P&C insurance companies and one of the largest commercial lines insurers in the U.S. According to Forbes, it is considered one of the Largest Public Companies in the World.
*Information from Forbes.com, Wikipedia.org, www.chubb.com/us-en and about.chubb.com.
**Video published on YouTube by “Companies History“.