Chubb Limited (NYSE:CB) is another example of an innovator that has been just as disruptive in the insurance industry. Seizing on an underappreciated tax advantage in the early 1990s, a group of leading executives started a company named Ace Limited that practically created the offshore reinsurance industry. Building on this foundation, the company grew into the world’s most highly valued property and casualty insurance company culminating in its 2016 acquisition of blue chip Chubb Limited whose name the company retained.
From Chris Davis (Trades, Portfolio)' Davis New York Venture Fund 3rd quarter 2018 shareholder letter.
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