Bullish indicating open at $55-$60, IPO prices at $37
ZURICH - Chubb Limited (NYSE:CB), a $108 billion market cap insurance giant with annual revenues exceeding $57 billion, announced Monday two executive promotions in its surety business, elevating Steve Haney to President and Chief Underwriting Officer of Global Surety while appointing Teresa Black to succeed him as Division President of North America Surety.
Haney, previously Vice President of Chubb Group and Division President of North America Surety, will now oversee strategy, underwriting, and profit and loss responsibilities across Chubb’s worldwide surety operations. He will report to Juan Luis Ortega, Executive Vice President and President of North America Insurance, and Paul McNamee, Executive Vice President and President of Overseas General Insurance.
Black, who served as Executive Vice President and Chief Operating Officer of North America Surety, will assume executive oversight and profit and loss responsibility for the North American surety business. She will report to both Haney and Scott Meyer, Senior Vice President and Chief Operating Officer of North America Insurance. According to InvestingPro analysis, Chubb maintains a "GREAT" Financial Health Score of 3.14, suggesting strong operational execution under its leadership team.
Haney brings nearly 30 years of underwriting experience to his new role, having joined the company in 1997 as a surety underwriter before advancing through positions of increasing responsibility.
Black has 28 years of insurance industry experience, including over two decades with Chubb. Her previous roles include Senior Vice President of Distribution Management and Vice President and National Segment Leader for New York.
Both appointments are effective immediately, according to the company’s press release statement.
Chubb operates in 54 countries and territories, providing commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance. The company demonstrates solid financial performance with a 14% return on equity, and InvestingPro analysis indicates the stock is currently undervalued, presenting a potential opportunity for investors. Discover more detailed insights and executive analysis in Chubb’s comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Chubb Limited reported a record core operating earnings per share (EPS) of $6.14 for the second quarter of 2025, representing a 14% increase compared to the previous year. The company’s core operating income also rose to $2.5 billion, an increase of 13%. Despite these strong financial results, market reactions remained balanced due to competitive pressures and economic uncertainties. Following the earnings announcement, Keefe, Bruyette & Woods (KBW) reiterated its Outperform rating for Chubb, with a price target of $324.00, advising investors to consider purchasing the stock. Meanwhile, Goldman Sachs maintained a Neutral rating but lowered its price target to $299.00 from $309.00, citing concerns over a deceleration in North American Commercial pricing. The firm noted that the pricing fell to 4.5% in the second quarter from 8.3% in the previous quarter. Despite keeping their 2025 and 2026 EPS estimates stable, Goldman Sachs reduced its 2027 EPS estimate by about 2%. These developments highlight both growth and challenges for Chubb in the current economic climate.
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