Chubb has officially changed the name of its life insurance subsidiary in Hong Kong from ACE Life (ACE) to Chubb Life Insurance Company Ltd (Chubb Life), effective immediately. The firm’s new identity in Hong Kong follows ACE Limited’s acquisition of The Chubb Corporation, which was completed on January 14 this year, creating a global insurance leader operating in 54 countries under the well-known Chubb brand.
“Our name is new, but our commitment to provide the best service capabilities and innovative product offerings to our policyholders, agents, brokers and other business partners remains the same. Our customers can be confident in the protection Chubb Life offers for their family’s financial security and wellbeing,” says Allan Lam, country president of Chubb Life in Hong Kong.
Chubb – a US-based insurer with more than 130 years of history – and ACE, which is renowned for its underwriting excellence and global presence, have joined forces to become one of the world’s largest publicly-traded property and casualty insurer. According to a joint press statement, the new name will not affect the company and business partners’ operations or customers’ rights, obligations or policies, which remain fully intact under Hong Kong laws and regulations._
Mr. Lam adds: “The new Chubb is defined by superior underwriting, service and execution. Together, these three elements form the basis for what we believe is superior insurance craftsmanship. The company is also distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, superior claims handling expertise and local operations.__
He continues: “The new Chubb looks forward to sharing even more personalised insights that add value to the rapidly changing needs of our customers. Chubb Life in Hong Kong also expects to pursue new, profitable growth opportunities by leveraging the broad and deep global presence of our parent company along with our local expertise.”
Chubb Life is the global life insurance division of Chubb, which has been present in Hong Kong for more than 90 years, via acquisitions by its predecessor companies. As of December 31 last year, Chubb had US$154 billion in total assets.
