Chubb Ltd. debuts on New York Stock Exchange
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The new Chubb Ltd. created by Ace Ltd.'s acquisition of Chubb Corp. has begun trading on the New York Stock Exchange.
Zurich-based Ace completed its acquisition of Warren, New Jersey-based Chubb on Thursday. In addition to trading on the NYSE under the symbol CB, the company unveiled a new logo
According to a statement released Thursday after completion of the transaction, which is valued at about $29.5 billion, the company said that it is now the world's largest publicly traded property/casualty insurer with market capitalization of $51.2 billion, annual gross written premiums of $37 billion and total assets worth about $150 billion.
The companies announced the deal on July 1 and received final regulatory approval on Wednesday.
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