Report
Brett Horn, CFA
EUR 101.80 For Business Accounts Only

The combination of ACE and Chubb created a large, moaty insurer.

Chubb’s first-quarter results support our view that the merged company represents one of the most attractive franchises in the industry. The company’s already strong underwriting results improved modestly year over year, with the overall combined ratio decreasing to 87.5% from 90.0% on a pro forma basis. We estimate annualized tangible return on equity at 16.4% for the quarter, a level that suggests the integration continues to progress smoothly. Excluding integration charges and amortization ex...
Underlying
Chubb Limited

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Brett Horn, CFA

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