Chubb aims parting shot at The Hartford as it admits defeat in pursuit of rival

Chubb has officially thrown in the towel on its proposed merger with The Hartford.

In a statement, Chubb said it believed its acquisition offer represented fair value for The Hartford, and would have been “financially and strategically compelling for both sets of shareholders.”

However, it conceded that The Hartford had chosen not to engage with its proposals.

“Although we are disappointed, we want to repeat that our shareholders demand of us, and we demand of ourselves, that we remain a disciplined acquiror,” it said.

It stressed that Chubb remains well positioned, despite the setback. “Our organisation has been and remains totally focused, capitalising on excellent P&C market conditions and executing our longer-term operating strategies,” it said.

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