‘Two cities’ Chubb mulls return to contingents
Chubb Corp is in discussions with the major brokers about formally returning to contingent commissions, even though it already offers similar arrangements to its producers.
The US insurance powerhouse confirmed the news yesterday (22 July) while announcing its cat-loss affected second quarter results.
Chubb posted second quarter net income of $518mn compared to $551mn in the second quarter 2009, as the firm dubbed the bittersweet trend of falling pricing and increasing demand a "tale of two cities".
Speaking to investors...
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