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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.
Ace Ltd. is expected to complete its acquisition of Chubb Corp. in the first quarter of 2016. In the meantime, the insurer has rolled out a steady stream of impending executive leadership appointments for its various divisions and businesses around the globe.