Chubb likely to shy away from M&A options for foreseeable future

Insurance giant Chubb, flush with cash but still feeling the boost of its massive 2020 purchase of assets across Asia, is likely to lay off from the M&A market for the foreseeable future, CEO Even Greenberg suggested in a call with markets. 

“Don't hold your breath,” Greenberg told analysts when asked about M&A prospects during the company's Q1 earnings call.  “I'm at rest.” 

Greenberg did not fight off analyst suggestion that the company may be capital-heavy and cash-flush, but noted that Chubb holds what he calls “excess capital” with an eye towards “both risk and opportunity.”  

Reinvestment yields above 6% also take some of the urgency out of cash utilization, he suggested. 

“We are a global company with a lot of global opportunity and our eyes are always open,” Greenberg said to hedge his comments. “But as I said, I am at rest.”

Chubb purchased Asian assets from Cigna in a major deal in 2020.

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