April 25, 2021

Chubb

Hartford Rejected 3 Acquisition Offers From Chubb From $65 to $70 a Share

After its initial offer of $65 per share to acquire The Hartford was rejected, insurer Chubb came back with two additional offers of $67 and then $70 per share, The Hartford reported today in its first quarter filings.

The Hartford’s board of directors unanimously rejected each of Chubb’s proposals, determining that “entering into discussions regarding a strategic transaction would not be in the best interests of the company and its shareholders.”

On March 11, Chubb CEO Evan Greenberg proposed an acquisition of Hartford Financial Services for about $23.2 billion in cash and stock in what would have been one of

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Greenberg’s Chubb makes $23bn takeover approach to insurance rival Hartford

Chubb, the largest US non-life insurer by market capitalisation, has approached rival Hartford Financial Services Group with an unsolicited $23.2bn takeover offer, in what could be the first mega-deal in an industry battered by losses stemming from the coronavirus pandemic.

The company led by Evan Greenberg said it had offered $65 per share to buy Hartford, a 13 per cent premium on the Connecticut-based group’s closing share price on Wednesday before news of a potential approach emerged on Thursday. The offer was mostly cash and some stock, said Chubb, without providing exact details.

Hartford said its board of directors was

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Chubb Explores Acquisition of $22 Billion Rival Hartford: Bloomberg

Chubb Ltd., the global insurer led by Evan Greenberg, is exploring an acquisition of Hartford Financial Services Group Inc. in what could be one of the industry’s biggest deals in years, people familiar with the matter said.

The New York-listed insurer has made a preliminary takeover approach for Hartford, said the people, who asked not to be identified because the discussions are private. Deliberations are at an early stage and may not lead to a transaction, they said.

A representative for Hartford wasn’t able to immediately comment. A representative for Chubb couldn’t be immediately reached for comment.

Shares of Hartford

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Chubb launches new insurance brand

With the digital economy at an all-time high – a state helped on by the COVID-19 pandemic and the resulting work from home, learn from home environment – insurance organizations are under pressure to meet consumers where they’re at. Millennials now make up America’s largest living adult generation. In researching Blink, Chubb spent a lot of time with millennials and digitally savvy consumers, and the one thing that most agreed on was a desire for convenience and having insurance solutions that meet their needs in a simple and straightforward way.

Read next: Chubb announces travel insurance partnership

“Even though their

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