Chubb Ltd. debuts on New York Stock Exchange

A trader works on the main trading floor of the New York Stock Exchange shortly after the opening bell of the trading session in New York on Friday./ REUTERS

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.