Chubb Board Approves New $1.3 Billion Share Repurchase Program

WARREN, N.J., Jan. 31, 2013 /PRNewswire/ -- The Board of Directors of The Chubb Corporation (NYSE: CB) today authorized a new share repurchase program for up to $1.3 billion of the Corporation's common stock. Purchases may be made from time to time in the open market or in privately negotiated transactions. This new program replaces the program approved by the Board on January 26, 2012 that provided for the repurchase of up to $1.2 billion of the Corporation's common stock. Approximately $979 million of the Corporation's common stock was repurchased under that program.

"Capital management continues to be a key focus of Chubb. This new share repurchase program that we are announcing today reflects Chubb's strong financial condition as well as an ongoing commitment to the importance of our capital management strategy. Although the program has no expiration date, we currently intend on completing it by the end of January 2014, subject to market conditions and other factors," 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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