Chubb Limited was formerly known as ACE Limited. ACE Limited after acquiring The Chubb Corp in Jan 2016 assumed the name of Chubb. Headquartered in Zurich, Switzerland, the company boasts being one of the world’s largest providers of property and casualty (P&C) insurance and reinsurance and largest publicly traded P&C insurer, based on market capitalization of $86 billion. Chubb has diversified through acquisitions into many specialty lines, including marine, medical risk, excess property, environmental and terrorism insurance and has local operations in 54 countries and territories. Chubb provides specialized insurance products such as personal accident, supplemental health and life insurance to individuals in select countries. Its reinsurance operations include both P&C and life companies.
Chubb presently operates through following six segments: North America Commercial P&C Insurance segment (40% of 2024 net premiums written) offers a broad range of retail, and wholesale and specialty products. Overseas General segment (27.1%) provides property, primary and excess casualty, energy, professional risk, marine, political risk, trade risk, accident and health, aviation, and consumer-driven products. North America Personal P&C Insurance (12.7%) includes the business written by Chubb Personal Risk Services division comprising Chubb high net worth personal lines business and ACE Private Risk Services. Life segment (12.2%) offers traditional life reinsurance and life insurance products in Thailand, Vietnam, the United Arab Emirates, Taiwan, China, Egypt, among others. North America Agriculture segment (5.2%) offers coverage for agriculture business. These include Multiple Peril Crop Insurance crop-hail and farm P&C insurance protection to U.S. and Canadian customers by means of Rain and Hail Insurance Service Inc. (Rain and Hail). Global Reinsurance (2.8%) represents Chubb's reinsurance operations and principally provides property catastrophe reinsurance to insurers of commercial and personal property and traditional and specialty P&C reinsurance.