Chubb wraps up European integration
Property/casualty insurer Chubb has completed the integration of its key operating companies in Europe. The announcement follows the acquisition of Chubb Corporation by ACE in January 2016, creating a global insurance firm operating in 54 countries.
ACE and Chubb began operating as one organisation in the UK in January 2016, with operations in other European countries.
The insurance business of Chubb Insurance Company of Europe has been transferred to ACE European Group. The name of ACE European Group has also been changed to Chubb European Group, in line with the company's new brand.
On the Lloyd’s market business front, the name of ACE Underwriting Agencies has been changed to Chubb Underwriting Agencies. This follows the transfer of the insurance business of Chubb Managing Agency on September 30, 2016.
"Since January 2016, our priority has been to bring together the compelling complementary strengths of our respective organisations for the benefit of our customers and distribution partners in Europe," Andrew Kendrick, regional president, Europe at Chubb, commented. "The successful legal integration of these insurance companies and our renaming as Chubb represents another milestone in this journey."
Kendrick added: "I am very pleased with the response we have received from the market about our progress so far and enormously excited about our future serving brokers and clients under our new Chubb brand, which stands for insurance craftsmanship and a commitment to excellence in underwriting, service and execution."
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