Chubb's announcement of a nearly 7 percent share repurchaseauthorization has prompted one analyst to question the firmness ofproperty-casualty pricing next year.
Bear Stearns property casualty analyst David Small said theannouncement by the Warren, N.J.-based p-c insurer comes incontrast to other companies that are raising equity in anticipationof price increases.
Mr. Small said the move has made his organization more bullishon Chubb. "The company has shown strong operating results over thelast few quarters, and the repurchase program should put aconsistent bid under the shares going forward," he wrote.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
