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Chubb Ltd CB

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Stronger Pricing Offset by Catastrophes for Chubb in First Quarter

Brett Horn, CFA Senior Equity Analyst

Analyst Note

| Brett Horn, CFA |

Chubb started the year on a fairly strong note. The company appears to be exploiting a harder pricing market, and we believe disciplined insurers like Chubb stand to gain more from current industry dynamics. While the positive impact of pricing in the quarter was blunted by a relatively high level of catastrophe costs, we consider the annualized core tangible ROE of 13% to be a solid result for the narrow-moat franchise. We will maintain our $157 per share fair value estimate.

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Company Profile

Business Description

ACE acquired Chubb in the first quarter of 2016 and assumed the Chubb name. The combination makes the new Chubb one of the largest domestic property and casualty insurers, with operations in 54 countries spanning commercial and personal P&C insurance, reinsurance, and life insurance.

Contact
Baerengasse 32
Zurich, CH-8001, Switzerland
T +41 434567600
Sector Financial Services
Industry Insurance - Property & Casualty
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type —
Employees 31,000

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