The Hartford
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Chubb reiterates its disappointment about The Hartford’s refusal to engage. -
Chubb offered to pay up to $70 per share for the business after its $65 offer was publicly rejected.
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The Week in 90 Seconds: Biometric data and cyber; Greensill collapse; Guy Carpenter’s Priebe on pandemic risk; Texas storm; Marsh McLennan’s Glaser
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Chubb made an unsolicited bid for the carrier last week at a 25% premium on its weighted average share price.
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Plus the latest executives on the move and all the top news from the week.
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The proposed consideration represents a mix of stock with the majority in cash.
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The carrier says its board of directors is "carefully considering" the proposal.
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The Hartford share price jumps 12% on report of deal talks with Chubb.
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Christopher Swift says more rate is needed in some areas including the London market and certain excess lines.
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The additional raise takes the carrier’s committed capital to $3.2bn.
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Sandy Warne will report to former Lexington chief George Stratts at the Lloyd’s start-up.
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The ratings agency has also lowered the ICR of The Hartford subsidiary.
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