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☆ Chubb CEO says climate change has created 'tremendous volatility' for insurance companies
▼ + stars: | 2024-06-06 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Chubb CEO Evan Greenberg told CNBC's Jim Cramer on Thursday that climate change is one factor that's driving the price of insurance. "Climate change has created tremendous volatility, and it continues to evolve," Greenberg said. "And the concentrations of values in areas where, where the climate – the impact of the climate – is greatest continues to increase." Known for insuring businesses and wealthy individuals, Chubb is also a major insurer of agriculture, Greenberg said. "And so, therefore, reflecting loss cost, when you think general inflation, when you think climate change, when you think litigation, that is driving the pricing of insurance."

Persons: Chubb, Evan Greenberg, CNBC's Jim Cramer, Greenberg, Warren Buffett, Berkshire Hathaway, Donald Trump, E, Jean Carroll Organizations: Berkshire Locations: U.S, North America, Asia, America, Wednesday's

☆ Warren Buffett’s Berkshire Hathaway reveals insurer Chubb as confidential stock it’s been buying
▼ + stars: | 2024-05-15 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Insurer Ace Limited acquired the original Chubb in 2016 for $29.5 billion in cash and stock, and the combined company adopted the Chubb name. His conglomerate Berkshire Hathaway has bought nearly 26 million shares of Zurich-based Chubb for a stake worth $6.7 billion. Warren Buffett finally revealed his secret stock pick in a new regulatory filing, and it's insurer Chubb . Mystery unveiledBerkshire has been keeping this purchase secret for three quarters straight. Berkshire was granted confidential treatment to keep the details of one or more of its stock holdings confidential.

Persons: Warren Buffett, Chubb, Evan Greenberg, Maurice Greenberg Organizations: Berkshire, Ace, American International, Berkshire Hathaway, Alleghany, Chevron, Verizon Locations: Omaha , Nebraska, Zurich, The Omaha, Berkshire, Markel, Omaha

☆ What's up with Trump and Chubb? Insurance giant balks at underwriting fraud-case bond days after blowback from E. Jean Carroll bond
▼ + stars: | 2024-03-18 | by ( Laura Italiano | ) www.businessinsider.com time to read: +5 min

Ten days ago, Chubb underwrote Trump's $92 million bond for his E. Jean Carroll defamation appeal. But Chubb declined to handle the far higher appeal bond Trump now needs in his NY civil fraud case. The insurance giant had faced blowback after agreeing to the Carroll bond. Chubb's "no, thanks" comes just five days after the company's CEO, Evan Greenberg, sent a letter to brokers, clients, and investors addressing widespread criticism over the Carroll bond. The Carroll bond was underwritten by Chubb subsidiary Federal Insurance Company.

Persons: Chubb, Trump's, Jean Carroll, Trump, Carroll, —, Donald Trump's E, Evan Greenberg, Greenberg, Nick Newton, Newton, Neil Pederson, Pedersen, it's, Letitia James, James, Alan Garten Organizations: Service, GOP, Trump, Insurance, Business, Chubb, Insurance Company, National Association, Bond, Sons, New York, Trump Organization Locations: New York, York, AssuredPartners, Manhattan

The CEO of the Chubb insurance company on Wednesday defended providing former President Donald Trump with a $91.6 million appeal bond in the civil case where he was found liable for defaming writer E. Jean Carroll after she accused him of rape. "When Chubb issues an appeal bond, it isn't making judgments about the claims, even when the claims involve alleged reprehensible conduct," Greenberg wrote in the letter, which was obtained by CNBC. "It would be wrong for us to do so and we are in no way supporting the defendant. We are supporting and are part of the justice system plumbing included in this case." Chubb has been under fire since last week when Trump revealed he had obtained the appeal bond from the company.

Persons: Chubb, Donald Trump, E, Jean Carroll, Evan Greenberg, Trump, Greenberg Organizations: CNBC

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