Chubb ready to face pay raises in fight to retain talent; sees wage inflation up to 4%

Property/casualty insurer  Chubb is paying ever more to find and keep its talent and is currently counting on 3.5 to 4% wage inflation within its group, chief executive officer Evan Greenberg has said.

"We have wage inflation: I see it in the 3.5 to 4% range," Greenberg told the Q4 earnings call with analysts and investors.

"We are competing for talent and I want the best and brightest to work here," he said.

Greenberg rang out confidence on the overall Chubb value proposition for current and prospective workers.

"Certainly, compensation is one of the drivers," he said. "Also, culture and working for a winner and having a place that gives you opportunity are also compelling to the kind of person we want to attract."

Just one quarter prior, Greenberg had bemoaned the competitive state of the labor market, calling recruitment "a constant effort" in a "difficult marketplace." Greenberg spoke at the time of some progress against a still notable vacancy count.

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