SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) December 11, 2012
THE CHUBB CORPORATION
(Exact name of registrant as specified in its charter)
(State or other jurisdiction
|15 Mountain View Road, Warren, New Jersey||07059|
|(Address of principal executive offices)||(Zip Code)|
Registrants telephone number, including area code (908) 903-2000
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
|¨||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|¨||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
|¨||Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))|
|¨||Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))|
Table of Contents
Item 7.01 Regulation FD Disclosure
Item 9.01 Financial Statements and Exhibits
Exhibit Index to Current Report on Form 8-K filed on December 11, 2012
Press release dated December 11, 2012 (furnished pursuant to Item 7.01 of Form 8-K)
On December 11, 2012, The Chubb Corporation (Chubb) issued a press release announcing its estimate of losses from Storm Sandy, information relating to Chubbs share repurchase program and the date on which Chubb expects to announce fourth quarter 2012 financial results. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.
|Item 9.01||Financial Statements and Exhibits.|
99.1 Press release dated December 11, 2012 (furnished pursuant to Item 7.01 of Form 8-K)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
|THE CHUBB CORPORATION|
|Date: December 11, 2012||By:|
|Name:||John J. Kennedy|
|Title:||Senior Vice President and Chief Accounting Officer|
EXHIBIT INDEX TO CURRENT REPORT ON FORM 8-K
DATED DECEMBER 11, 2012
|99.1||Press release dated December 11, 2012 (furnished pursuant to Item 7.01 of Form 8-K)|
News from The Chubb Corporation
|The Chubb Corporation|
|15 Mountain View Road P.O. Box 1615|
|Warren, New Jersey 07061-1615|
FOR IMMEDIATE RELEASE
Chubb Estimates Net Losses After Tax from Storm Sandy of Approximately $570 Million;
Will Resume Share Repurchases;
Expects To Announce Fourth Quarter Financial Results on January 31, 2013
Warren, N.J., December 11, 2012 The Chubb Corporation [NYSE: CB] announced today that it estimates its losses from Storm Sandy to be approximately $880 million before tax, or $570 million after tax ($2.14 per share after tax). These amounts include estimated losses and loss expenses net of reinsurance recoverable and also include estimated reinsurance reinstatement premiums.
As previously disclosed, in light of Storm Sandy and the uncertainties surrounding it, Chubb temporarily suspended the repurchase of its common stock under its share repurchase program. Following this announcement, the company intends to resume repurchasing its shares, although it no longer expects to complete repurchases under its current $1.2 billion authorization by the end of January 2013 as previously contemplated. After the Board of Directors annual review of Chubbs share repurchase program in January 2013, Chubb expects to announce an additional share repurchase authorization at the same time it announces its fourth quarter 2012 financial results.
Chubb expects to announce its fourth quarter 2012 financial results on Thursday, January 31, 2013 after the close of the market. The press release and financial supplement will be available shortly thereafter on Chubbs website at www.chubb.com.
A conference call will take place on the same day, Thursday, January 31, 2013 at 5:00 p.m. ET hosted by Chairman, President and Chief Executive Officer John D. Finnegan and other members of Chubbs senior management. The call will be broadcast live over the Internet. To listen to the conference call, log on to Chubbs website at www.chubb.com and click on the microphone icon. A replay of the call will be available on Chubbs website at www.chubb.com approximately two hours following the webcast through Thursday, February 28, 2013.
Those who wish to listen to the live conference call may pre-register on Chubbs website at www.chubb.com by clicking on this press release in the press release category of our home page.
Some of the statements in this release, including those about estimated losses from Storm Sandy and Chubbs repurchase of shares of its common stock, are forward-looking information 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. Actual results may differ materially from those suggested by the 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. Chubb assumes no obligation to update any forward-looking information set forth in this release, which speaks as of its date.
|For further information contact:||Investors:||Glenn A. Montgomery|
|Media:||Mark E. Greenberg|