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Insurance giant Chubb Ltd (NYSE:CB), currently trading at $292.96 and showing a solid 3.72% year-to-date return, has announced the completion of a share capital reduction, effective March 7, 2025. The reduction comes as a result of the cancellation of 7,518,565 treasury shares, which were repurchased by the company in 2024. This move was made in accordance with the capital band provision authorized by shareholders at the 2024 annual general meeting.
The share capital reduction was registered with the Commercial Register of the Canton of Zurich, Switzerland. As a result of this action, the company’s share capital has decreased from CHF 209,812,993, divided into 419,625,986 registered shares, to CHF 206,053,710.50, now divided into 412,107,421 registered shares.
The alteration to the company’s capital structure was reflected in an amendment to Article 3 of Chubb’s Articles of Association. This amendment is part of the company’s ongoing capital management strategy and reflects its ability to adjust its capital in response to business needs.
Chubb Limited, headquartered in Zurich, Switzerland, is a leading provider of insurance products covering a wide range of sectors, with a substantial market capitalization of $117.57 billion. The company maintains a strong financial position, earning a "GREAT" Financial Health Score according to InvestingPro analysis. The company’s stock is listed on the New York Stock Exchange under the ticker symbol CB, currently trading at an attractive P/E ratio of 12.77 and offering a dividend yield of 1.27%. For detailed financial analysis and expert insights, investors can access Chubb’s comprehensive Pro Research Report, one of 1,400+ available on InvestingPro.
This report is based on a press release statement and aims to provide shareholders and the public with key information regarding Chubb’s financial adjustments. It is important to note that this article does not offer any opinion or analysis of the company’s financial decisions or their implications for investors or the market at large.
In other recent news, Chubb Corporation reported significant developments that are catching the attention of investors. HSBC has upgraded Chubb’s stock rating from Hold to Buy, with a new price target of $323, citing the company’s strong combined ratio performance and effective management of insurance cycles throughout 2024. This comes alongside Chubb’s strategic growth in reinsurance and the North American commercial insurance sector. In addition, Keefe, Bruyette & Woods adjusted Chubb’s price target to $329, maintaining an Outperform rating after revising earnings estimates due to anticipated catastrophe losses in early 2025.
In a strategic move, Chubb announced plans to acquire Liberty Mutual’s property and casualty operations in Thailand and Vietnam, with transactions expected to complete by late 2025 to early 2026. The acquisition is set to add approximately $275 million in net premiums written, expanding Chubb’s presence in Asia. Furthermore, Chubb has announced a leadership reshuffle, appointing Ana Robic as Regional President for EMEA and Melissa Scheffler as Division President of Personal Risk Services in North America. Evercore ISI continues to hold a positive view on Chubb, maintaining an Outperform rating with a $313 price target, highlighting the robustness of Chubb’s reserves. These recent developments underscore Chubb’s strategic positioning and growth initiatives in the insurance industry.
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