The Chubb Corporation · Warren, NJ United States ·(NYSE: CB)
Company Description
Phone: 908-903-2000
Fax: 908-903-2027
Rankings
- #333 in FT Global 500
- #203 in FORTUNE 500
- S&P 500
View The Chubb Corporation Locations On A US Map
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This link will open in a new window Here's the skinny on Chubb: The insurer is best known for comprehensive homeowners insurance for the demographic that owns yachts (the company insures those, too). Chubb also offers commercial property/casualty insurance including multiple peril, property and marine, and worker's compensation. Its specialty insurance arm offers professional liability policies for executives across a spectrum of industries and also provides construction and commercial surety bonds. Chubb distributes its products through 8,500 independent agents and brokers in 120 offices across the US and in nearly 30 countries. The company began in 1882 when Thomas Chubb and his son began writing marine insurance in New York City. To read the full description, subscribe now.
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Key The Chubb Corporation Financials
| Company Type | Public - NYSE: CB Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $13,221.0 |
| 2008 Employees | 10,400 |
The Chubb Corporation Executives
50 executives listed for The Chubb Corporation's Warren, NJ location.
| Title | Name & Bio | Contact |
| Chairman, President, and CEO | John Finnegan | Network |
| Vice Chairman and COO | John Degnan | Network |
| EVP and CFO | Richard Spiro | Network |
Competition
Competitive Landscape for The Chubb Corporation
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top The Chubb Corporation Competitors
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