In the spring of 1882, Thomas Caldecot Chubb and his son Percy opened their marine underwriting business in the seaport district of New York City. Having collected $1,000 from each of 100 prominent merchants to start their venture, they focused on insuring ships and cargoes. The Chubbs were adept at turning risk into success, often by helping their policyholders prevent disasters before they occurred. By the turn of the century, Chubb had established strong relationships with the insurance agents and brokers who placed their clients’ business with Chubb underwriters, and the original subscribers enjoyed a substantial return on their investment in the young company.
Chubb & Son did not value size in itself but regarded it as a measure of what had been achieved. Upon the Company’s 75th anniversary in 1957, Hendon Chubb — who had joined his older brother Percy in the firm in 1895 — noted, “I think there is perhaps a tendency in American business to overemphasize mere size, whereas to me it should be a by-product of a job well done.”
“Never compromise integrity,” also a Hendon Chubb principle, captures the spirit of our companies. Each member of the Chubb organization seeks to stand apart in bringing quality, fairness and integrity to each transaction, for the benefit of all involved.
The Chubb Corporation was formed in 1967 and was listed on the New York Stock Exchange in 1984. It ranks among the top 10 publicly traded insurance organizations based on revenues in the United States.
With approximately 11,800 employees throughout North America, Europe, South America, and the Pacific Rim, Chubb serves property and casualty customers from some 120 offices in 29 countries around the globe. Chubb works with 8,000 independent agents and brokers worldwide.