Chubb Board Approves New $1.2 Billion Share Repurchase Program

WARREN, N.J., Jan. 26, 2012 /PRNewswire-FirstCall/ -- The Board of Directors of The Chubb Corporation [NYSE: CB] today authorized a new share repurchase program of up to $1.2 billion of the Corporation's common stock.  Purchases may be made from time to time in the open market or in privately negotiated transactions.  The program has no expiration date. 

The Corporation's prior repurchase program, which was approved by the Board on December 9, 2010, and provided for the repurchase of up to a total of 30 million shares, has been completed. 

"Today's actions result from the Board's continued confidence in Chubb's strong financial condition as well as an ongoing commitment to the importance of our capital management strategy," said John D. Finnegan , Chairman, President and Chief Executive Officer. 

 

 

 

 

Certain statements in this release are "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995 (PSLRA).  These forward-looking statements are made pursuant to the safe harbor provisions of the PSLRA.  Forward-looking statements are made based upon management's current expectations and beliefs concerning trends and future developments and their potential effects on us.  These statements are not guarantees of future performance.  Actual results may differ materially from those suggested by forward-looking statements as a result of risks and uncertainties, which include, among others, those discussed or identified from time to time in our public filings with the Securities and Exchange Commission and those associated with general economic and market conditions, our financial performance and the capital requirements of our business.  Chubb assumes no obligation to update any forward-looking information set forth in this document, which speak as of the date hereof.

SOURCE Chubb Corporation

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