ZURICH, Feb. 3, 2021 /PRNewswire/ -- Chubb
Limited (NYSE: CB) announced that its Board of Directors has
authorized an increase of $1 billion
to the company's share repurchase program previously
announced on November 19, 2020.
When added to the November 2020
authorization, the company's total repurchase program allows for up
to $2.5 billion in repurchases
between January 1 and December 31 of
2021. The timing and volume of any share repurchases under this
authorization will be determined by management at its discretion
and pursuant to the company's capital management
strategy.
Share repurchases, which are subject to market conditions, other
business considerations and applicable legal requirements, may be
made in the open market, in privately negotiated transactions,
block trades, accelerated repurchases or through option or other
forward transactions.
About Chubb
Chubb is the world's largest publicly
traded property and casualty insurance company. With operations in
54 countries and territories, Chubb provides commercial and
personal property and casualty insurance, personal accident and
supplemental health insurance, reinsurance and life insurance to a
diverse group of clients. As an underwriting company, we assess,
assume and manage risk with insight and discipline. We service and
pay our claims fairly and promptly. The company is also defined by
its extensive product and service offerings, broad distribution
capabilities, exceptional financial strength and local operations
globally. Parent company Chubb Limited is listed on the New York
Stock Exchange (NYSE: CB) and is a component of the S&P 500
index. Chubb maintains executive offices in Zurich, New
York, London, Paris and other locations, and employs
approximately 31,000 people worldwide. Additional information can
be found at: www.chubb.com.
Cautionary Statement Regarding Forward-Looking
Statements:
Forward-looking statements made in this press
release, such as statements regarding share repurchases, and our
expectations and intentions and other statements that are not
historical facts, reflect the company's current views with respect
to future events and are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Such statements involve risks and uncertainties, which may cause
actual results to differ materially from those set forth in these
statements. Additional information regarding factors that could
cause differences from these forward-looking statements appears in
the company's filings with the Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date on
which they are made. The company undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
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SOURCE Chubb Limited