Ho Chi Minh City, April 4, 2016 - Chubb today announced the official name change of its life insurance subsidiary in Vietnam from ACE Life to Chubb Life (Chubb Life Vietnam Insurance Co., Ltd.). The new name will not affect the company’s business operation in the marketplace, and all rights and obligations between existing clients and business partners with ACE Life remain fully intact under Vietnam laws and regulations.
The company’s new name in Vietnam follows ACE Limited’s acquisition of The Chubb Corporation that was completed on January 14th, 2016, creating a global insurance leader operating in 54 countries under the renowned Chubb name. The new company combines Chubb, a venerable U.S.-based insurer with over 130 years of history, and ACE, a global leader known for its underwriting excellence and global presence. The new Chubb is the world’s largest publicly traded property and casualty insurer.
Mr. Lam Hai Tuan, Chairman and Country President of Chubb Life in Vietnam, said: “With ACE’s acquisition of Chubb globally, 2016 marks a significant milestone for us in Vietnam and around the world. Our name is new, but our commitment remains the same - to provide our customers, business partners, employees and other stakeholders with superior quality and service that both ACE and Chubb have developed over many years.”
“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,” said Mr. Lam. “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 globally.”
Beginning today, people in Vietnam will see the company’s new and colorful brand identity. The new logo is a simple expression of the Chubb name – a clear, refined, modern expression of Chubb. To balance the simplicity of the logo, the company has chosen an ‘out-of-the-box’ approach by using nine colors to represent the new Chubb brand, reflecting the diversity and energy of its culture, thinking, global presence, the many different customers it serves and the many products it offers. All this will be backed by the company’s ‘signature’ - "Chubb. Insured." - a mark of craftsmanship.
Mr. Lam continued: “We look forward to focusing on the craft of insurance to deliver unmatched quality and service to customers and distribution partners. Leveraging outstanding resources from our parent company and our local expertise and presence, Chubb Life in Vietnam expects to achieve continued success on its journey ‘From Good to Great’.”
About Chubb Life Vietnam
Chubb Life (Chubb Life Insurance Vietnam Company Ltd.) is the global life insurance division of Chubb. Chubb Life in Vietnam offers a comprehensive array of quality life-insurance products to meet the financial-protection and security needs of a broad range of customers. The company pioneered the introduction of the Universal Life plan in the Vietnamese market in March 2006. Since then, it has developed a full range of Universal Life products. This diverse range of Universal Life products enables individuals and groups up to the age of 80 years to select plans to suit their financial needs. Chubb Life distributes its products mainly through its professional and ever-growing 16,000 strong agency force, as well as through select banks. More information can be found at www.chubb.com/vn.
About Chubb
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 30,000 people worldwide. Additional information can be found at: www.new.chubb.com.
Facts about the New Chubb (pro forma ACE-Chubb as of December 31, 2015)
• $37 billion in gross premiums written
• $4.8 billion in operating income
• $154 billion in total assets
• Financial strength ratings of AA from S&P and A++ from A.M. Best