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About Chubb US Holdings Inc.

Chubb Limited sells property/casualty insurance, life insurance, and reinsurance through subsidiaries around the globe. The world's largest publicly traded property/casualty insurer, Chubb primarily provides those lines of insurance to commercial and personal customers in some 55 nations and territories. Policies offered include general liability, homeowners, auto, accident, workers' compensation, and specialty crop and marine coverage. It also offers services such as risk management, loss control, and complex claims management programs. The company's Chubb Tempest Re businesses provide reinsurance to property/casualty insurers in North America and Europe. Chubb holds total assets of around $170 billion. 


Chubb operates through six primary business segments: North America Commercial P&C Insurance, Overseas General Insurance, North America Personal P&C (property and casualty) Insurance, Life Insurance, North America Agricultural Insurance, and Global Reinsurance.

The largest segments are North America Commercial P&C Insurance (more than 40% of net premiums earned) and Overseas General Insurance (some 30% of net premiums earned).

North America Commercial P&C Insurance serves large institutional customers, corporations, and small and mid-sized companies in the US, Canada, and Bermuda. It also includes the group's Westchester and Chubb Bermuda wholesale and specialty units.

Overseas General Insurance is composed of Chubb International and Chubb Global Markets, the group's international specialty and excess and surplus business. Chubb International operates in Europe, the Asia/Pacific region, Eurasia and Africa, and Latin America. It offers property/casualty, accident and health, specialty, and personal lines products. Chubb Global Markets offers specialty insurance and includes Chubb's Lloyd's of London Syndicate 2488.

North America Personal P&C Insurance (15% of net premiums) provides affluent and high-net-worth consumers in the US and Canada with property, liability, travel, and recreational marine coverage.

The Life Insurance segment (5% of net premiums) operates through Chubb Life, Chubb Tempest Life re, and other units. It offers individual life and group benefit insurance, primarily in developing markets.

North America Agricultural Insurance, also active in the US and Canada, provides crop, multi-peril crop, crop-hail, farm and ranch, and specialty commercial insurance products. It accounts for about 5% of net premiums.

Global Reinsurance is the group's smallest segment, bringing in some 2% of net earned premiums. It includes Chubb Tempest Re Bermuda, Chubb Tempest Re USA, Chubb Tempest Re International, and Chubb Tempest Re Canada.

Geographic Reach

Chubb has offices around the world, including North America (Philadelphia, Pennsylvania, Delaware, New Jersey, and Connecticut), Europe (including it headquarters in Switzerland), Bermuda, Latin America, Asia/Pacific, and the Far East. It generates around 60% of net premiums from North America. Chubb Global Markets operates out of Lloyd's of London, the world-renowned specialty insurance market. 

The geographic spread of Chubb's business mitigates the impact of weakness in a single, or group of, markets. Markets elsewhere would most likely be up. 

Sales and Marketing

Chubb's customers range from individuals (including wealthy individuals) and small businesses to multi-national corporations and other insurance companies. Most of the company's business is conducted through company agents or third-party insurance brokers or agents.

Chubb employs 4,000 agents on its Chubb Marketplace quoting platform that quote, issue, and service clients. 

Chubb has counted most of the Fortune 1000 as clients for many years. 

Financial Performance

Chubb's revenue has been growing in the low single-digits in the years following the 2015 merger with ACE that added $11 billion to its top line. Similarly, Chubb has been struggling to sustain meaningful growth in its bottom line. 

In fiscal 2018 the company's sales grew 3% to $27.8 billion, led by higher net premiums in the North America Commercial P&C Insurance segment, a result of rate increases, new business written, and strong renewals. The Overseas General Insurance business also grew strongly amid growth in most regions and lines of business. The other segments grew more modestly, except the small Global Reinsurance unit, which fell 3%. 

Net income grew 3% to $4.0 billion in 2018, although underlying performance was better as the 2017 figure was inflated by a $450 million bump from the 2017 US Tax Cuts and Jobs Act. A less-damaging hurricane season contributed to lower loss expenses, while net investment income increased as well.

Chubb's cash balance grew $489 million during 2018, ending the year at $1.3 billion. The company generated $5.5 billion from its operations, while it used $2.9 billion in its investing activities and $2.0 billion in its financing activities. Chubb's main cash uses during the year were net purchases of maturities held for sale, long-term debt repayments, and dividends. 


Chubb has built up a portfolio of insurance businesses whose scale and business model is hard to replicate, raising a high barrier to entry. It holds leading positions in the US commercial insurance market and the casualty products and risk management services market for corporations; the fourth-largest commercial insurer serving SMEs; the third-biggest excess and surplus lines writer; and the largest personal lines coverage for affluent families and individuals by a distance. 

As with every major company the world over, Chubb is finding new ways to do business by developing its digital capabilities. Investments in internal and external data analytics, machine learning, and web scraping have helped Chubb with its risk selection and pricing models. Rather than replacing jobs, robotics and automation have helped Chubb's underwriters spend more time on higher value activities and its claims handlers on the time-sensitive, complex claims. The automation of low-value activities should save the company big bucks over the coming five years. 

Company Background

In early 2016 the former ACE Limited acquired the US's Chubb Corporation for $28 billion and took the Chubb name.

Chubb US Holdings Inc.

1601 Chestnut St
Philadelphia, PA 19192-0003
Phone: 1 (215) 640-1000

Firm Stats

Employer Type: Privately Owned
Chief Auditor: Julie Schaekel
Executive Vice President And Chief Actua: Nanette Tingley
Senior Vice President: Joyce van Ravenswaay
Employees (This Location): 1,200
Employees (All Locations): 4,000

Major Office Locations

Philadelphia, PA

Other Locations

Chatsworth, CA
San Diego, CA
San Francisco, CA
San Jose, CA
Strasburg, CO
Wilmington, DE
Jacksonville, FL
Miami, FL
Tampa, FL
Richmond, IN
Shawnee Mission, KS
Columbia, MD
New York, NY
Rochester, NY
Portland, OR
Erie, PA
Philadelphia, PA
Dallas, TX
Houston, TX
New Berlin, WI