The Chubb Corp. (CB, Financial) filed Quarterly Report for the period ended 2010-09-30.
The Chubb Corp. has a market cap of $18.78 billion; its shares were traded at around $60.01 with a P/E ratio of 10.1 and P/S ratio of 1.4. The dividend yield of The Chubb Corp. stocks is 2.5%. The Chubb Corp. had an annual average earning growth of 1.5% over the past 5 years.CB is in the portfolios of Todd Combs of Castle Point Capital Management, LLC, Robert Olstein of Olstein Financial Alert Fund, Pioneer Investments, Michael Price of MFP Investors LLC, PRIMECAP Management, Diamond Hill Capital of Diamond Hill Capital Management Inc, Brian Rogers of T Rowe Price Equity Income Fund, John Buckingham of Al Frank Asset Management, Inc., Richard Perry of Perry Capital, James Barrow of Barrow, Hanley, Mewhinney & Strauss, Bruce Kovner of Caxton Associates, Richard Aster Jr of Meridian Fund, Jeremy Grantham of GMO LLC, Dodge & Cox, Steven Cohen of SAC Capital Advisors, George Soros of Soros Fund Management LLC, David Dreman of Dreman Value Management, Ruane Cunniff of Ruane & Cunniff & Goldfarb Inc.
The combination of the North American catastrophe treaty and a portion of the catastrophe bond coverages provide coverage for United States and Canadian exposures of approximately 69% of losses (net of recoveries from other available reinsurance) between $500 million and $1.37 billion and 60% of losses between $1.37 billion and $1.65 billion. For catastrophic events in the northeastern part of the United States and in Florida, the combination of the North American catastrophe treaty, the supplemental catastrophe reinsurance and the catastrophe bond coverages provide additional coverages as discussed below.
The catastrophe bond coverages generally provide reinsurance coverage for specific types of losses in specific geographic locations. They are generally designed to supplement coverage provided under the North American catastrophe treaty. We currently have three catastrophe bond coverages in effect: a $250 million reinsurance arrangement that expires in 2011 that provides coverage for homeowners-related hurricane losses in the northeastern part of the United States; a $200 million reinsurance arrangement that expires in 2011 that provides coverage for homeowners and commercial exposures for loss events in the northeastern part of the United States (for losses occurring elsewhere in the continental United States or Canada, the coverage is limited to $55 million); and a $150 million reinsurance arrangement that expires in 2012 that provides coverage for homeowners-related hurricane losses in Florida.
For catastrophic events in the northeastern part of the United States, the combination of the North American catastrophe treaty, the supplemental catastrophe reinsurance and certain catastrophe bond coverages provide additional coverage of approximately 40% of losses (net of recoveries from other available reinsurance) between $1.37 billion and $2.17 billion, approximately 90% of losses between $2.50 billion and $2.85 billion, and approximately 30% of homeowners-related hurricane losses between $1.47 billion and $2.30 billion.
Page 27 For hurricane events in Florida, we have reinsurance from the Florida Hurricane Catastrophe Fund (FHCF), which is a state-mandated fund designed to reimburse insurers for a portion of their residential catastrophic hurricane losses. Our participation in this program limits our initial retention in Florida for homeowners-related losses to approximately $155 million and provides coverage of 90% of covered losses between approximately $155 million and $560 million. Additionally, certain catastrophe bond coverages provide coverage of approximately 50% of Florida homeowners-related hurricane losses between $850 million and $1.15 billion.
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The Chubb Corp. has a market cap of $18.78 billion; its shares were traded at around $60.01 with a P/E ratio of 10.1 and P/S ratio of 1.4. The dividend yield of The Chubb Corp. stocks is 2.5%. The Chubb Corp. had an annual average earning growth of 1.5% over the past 5 years.CB is in the portfolios of Todd Combs of Castle Point Capital Management, LLC, Robert Olstein of Olstein Financial Alert Fund, Pioneer Investments, Michael Price of MFP Investors LLC, PRIMECAP Management, Diamond Hill Capital of Diamond Hill Capital Management Inc, Brian Rogers of T Rowe Price Equity Income Fund, John Buckingham of Al Frank Asset Management, Inc., Richard Perry of Perry Capital, James Barrow of Barrow, Hanley, Mewhinney & Strauss, Bruce Kovner of Caxton Associates, Richard Aster Jr of Meridian Fund, Jeremy Grantham of GMO LLC, Dodge & Cox, Steven Cohen of SAC Capital Advisors, George Soros of Soros Fund Management LLC, David Dreman of Dreman Value Management, Ruane Cunniff of Ruane & Cunniff & Goldfarb Inc.
Highlight of Business Operations:
Net premiums written were $8.4 billion in the first nine months of 2010 and $2.7 billion in the third quarter, compared with $8.3 billion and $2.7 billion, respectively, in the comparable periods of 2009.The combination of the North American catastrophe treaty and a portion of the catastrophe bond coverages provide coverage for United States and Canadian exposures of approximately 69% of losses (net of recoveries from other available reinsurance) between $500 million and $1.37 billion and 60% of losses between $1.37 billion and $1.65 billion. For catastrophic events in the northeastern part of the United States and in Florida, the combination of the North American catastrophe treaty, the supplemental catastrophe reinsurance and the catastrophe bond coverages provide additional coverages as discussed below.
The catastrophe bond coverages generally provide reinsurance coverage for specific types of losses in specific geographic locations. They are generally designed to supplement coverage provided under the North American catastrophe treaty. We currently have three catastrophe bond coverages in effect: a $250 million reinsurance arrangement that expires in 2011 that provides coverage for homeowners-related hurricane losses in the northeastern part of the United States; a $200 million reinsurance arrangement that expires in 2011 that provides coverage for homeowners and commercial exposures for loss events in the northeastern part of the United States (for losses occurring elsewhere in the continental United States or Canada, the coverage is limited to $55 million); and a $150 million reinsurance arrangement that expires in 2012 that provides coverage for homeowners-related hurricane losses in Florida.
For catastrophic events in the northeastern part of the United States, the combination of the North American catastrophe treaty, the supplemental catastrophe reinsurance and certain catastrophe bond coverages provide additional coverage of approximately 40% of losses (net of recoveries from other available reinsurance) between $1.37 billion and $2.17 billion, approximately 90% of losses between $2.50 billion and $2.85 billion, and approximately 30% of homeowners-related hurricane losses between $1.47 billion and $2.30 billion.
Page 27 For hurricane events in Florida, we have reinsurance from the Florida Hurricane Catastrophe Fund (FHCF), which is a state-mandated fund designed to reimburse insurers for a portion of their residential catastrophic hurricane losses. Our participation in this program limits our initial retention in Florida for homeowners-related losses to approximately $155 million and provides coverage of 90% of covered losses between approximately $155 million and $560 million. Additionally, certain catastrophe bond coverages provide coverage of approximately 50% of Florida homeowners-related hurricane losses between $850 million and $1.15 billion.
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