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The Chubb Corp.
(908)
903-2000
15
Mountain View Road
Warren, New Jersey 07061
www.chubb.com
Sales
$11.4
Business Description
The
Chubb Corporation (the Corporation) was incorporated as a business
corporation under the laws of the State of New Jersey in June 1967. The
Corporation is a holding company for a family of property and casualty
insurance companies known informally as the Chubb Group of Insurance
Companies (the Group). Since 1882, the Group has provided property and
casualty insurance to businesses and individuals around the world. According
to A.M. Best, the Group is the 13th largest U.S. property and casualty
insurance group based on 2001 net written premiums.
In 2000, the Corporation organized Chubb Financial Solutions to develop and
provide customized risk-financing services through both the capital and
insurance markets. The Corporation and its subsidiaries employed
approximately 13,300 persons worldwide on December 31, 2002.
Property and Casualty Insurance
The Group is divided into three strategic business units. Chubb Commercial
Insurance offers a full range of commercial customer insurance products,
including coverage for multiple peril, casualty, workers’ compensation
insuranceand property and marine. Chubb Commercial Insurance is known for
writing niche business, where our expertise can add value for our agents,
brokers and policyholders. Chubb Specialty Insurance offers a wide variety
of specialized executive protection and professional liability products for
privately and publicly owned companies, financial institutions, professional
firms and healthcare organizations. Chubb Personal Insurance offers products
for individuals with fine homes and possessions who require more coverage
choices and higher limits than standard insurance policies.
The Group provides insurance coverages principally in the United States,
Canada, Europe, Australia, and part of Latin America and the Far East.
Revenues of the Group by geographic area for the three years ended December
31, 2002 are included in Note (19) of the Notes to Consolidated Financial
Statements.
The principal members of the Group are Federal Insurance Company (Federal),
Pacific Indemnity Company (Pacific Indemnity), Vigilant Insurance Company
(Vigilant), Great Northern Insurance Company (Great Northern), Chubb Custom
Insurance Company (Chubb Custom), Chubb National Insurance Company (Chubb
National), Chubb Indemnity Insurance Company (Chubb Indemnity), Chubb
Insurance Company of New Jersey (Chubb New Jersey), Texas Pacific Indemnity
Company, Northwestern Pacific Indemnity Company, Executive Risk Indemnity
Inc. (Executive Risk Indemnity), Executive Risk Specialty Insurance Company
(Executive Risk Specialty) and Quadrant Indemnity Company (Quadrant) in the
United States, as well as Chubb Atlantic Indemnity Ltd. (a Bermuda company),
Chubb Insurance Company of Canada, Chubb Insurance Company of Europe, S.A.,
Chubb Insurance Company of Australia Limited, Chubb Argentina de Seguros,
S.A. and Chubb do Brasil Companhia de Seguros.
Federal is the manager of Vigilant, Pacific Indemnity, Great Northern, Chubb
National, Chubb Indemnity, Chubb New Jersey, Executive Risk Indemnity,
Executive Risk Specialty and Quadrant. Federal also provides certain
services to other members of the Group. Acting subject to the supervision
and control of the Boards of Directors of the members of the Group, the
Chubb & Son division of Federal provides day to day executive management and
operating personnel and makes available the economy and flexibility inherent
in the common operation of a group of insurance companies.
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