Chubb Ltd Files Definitive Proxy Statement

TL;DR

Chubb filed its proxy statement, standard stuff for shareholder votes.

AI Summary

Chubb Limited filed a Definitive Proxy Statement (DEFA14A) on April 24, 2024. This filing is a standard proxy statement related to the company's annual meeting and does not contain specific financial proposals or significant corporate actions beyond routine governance matters.

Why It Matters

This filing is a routine regulatory requirement for public companies, providing shareholders with information for upcoming meetings and voting decisions.

Risk Assessment

Risk Level: low — This is a routine DEFA14A filing, which typically contains standard information for shareholder meetings and does not indicate unusual risks.

Key Players & Entities

• Chubb Limited (company) — Registrant
• ACE Ltd (company) — Former Company Name

FAQ

Key Financial Figures

• $1 b — roducers with annual revenues less than $1 billion, Chubb will continue to provide i

Filing Documents

• tm2412556d1_defa14a.htm (DEFA14A) — 28KB
• tm2412556d1_defa14aimg001.jpg (GRAPHIC) — 5KB
• 0001104659-24-051218.txt ( ) — 36KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant Filed by a Party other than the Registrant ¨ Check the appropriate box: ¨ Preliminary Proxy Statement ¨ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ¨ Definitive Proxy Statement Definitive Additional Materials ¨ Soliciting Material Pursuant to § 240.14a-12 Chubb Limited (Name of Registrant as Specified in its Charter) (Name of Person(s) Filing Proxy Statement, if Other Than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required ¨ Fee paid previously with preliminary materials ¨ Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 Supplement to the Proxy Statement for the 2024 Annual General Meeting of Shareholders to be held on May 16, 2024 This proxy statement supplement, dated April 24, 2024, supplements the Definitive Proxy Statement on Schedule 14A (the “Proxy Statement”) of Chubb Limited (the “Company”, “Chubb”, “we” or “our”), filed on April 1, 2024. This supplement updates shareholders, since the filing of the Proxy notice of exempt solicitation filed on April 18, 2024. Our Board requests shareholders consider this proxy statement supplement as part of the evaluation of Agenda Item 15, the shareholder proposal on Scope 3 greenhouse gas emissions reporting, which our Board recommends that shareholders vote “AGAINST” . Further explanation of the reasons the Board recommends voting “AGAINST” Agenda Item 15 is described in the Board’s statement of opposition to the proposal on pages 59-61 of the Proxy Statement (“Statement of Opposition”). New Oil & Gas Underwriting Criteria In April 2024, the Company expanded its oil and gas underwriting criteria, which were first established in March 2023, to address larger oil and gas companies and adopt new standards for midstream activities. The criteria apply to all property, casualty, environmental and financial lines of insurance specific to upstream and midstream operations. This continued development and implementation of climate underwriting criteria in the ordinary course of our business demonstrates Chubb’s commitment to our innovative climate strategy and continued leadership in developing underwriting-driven approaches designed to reduce greenhouse gas (“GHG”) emissions over the one-year period of typical insurance policies. We are also currently evaluating evidence to support the development of criteria in other high-emitting industries. We believe the implementation of underwriting criteria, combined with our other climate strategy pillars, including underwriting net-zero solutions through Chubb Climate+, is more impactful, more data-driven, and a better use of our resources than the climate strategy advocated by the Proponents in their notice of exempt solicitation. With the expanded criteria, Chubb’s full underwriting criteria and conservation policy for oil and gas encompasses: Standards for methane emissions · For oil and gas producers with annual revenues less than $1 billion, Chubb will continue to provide insurance coverage for clients that implement evidence-based plans to manage methane emissions, including, at a minimum, having in place programs for leak detection and repair, the elimination of non-emergency venting, and adopting one or more measures that have been demonstrated to reduce emissions from flaring. Clients will have a set period of time to develop an action plan based on their individual risk characteristics. We may decline coverage if a potential policyholder cannot meet our methane performance expectations. · For oil and gas producers with annual revenues greater than $1 billion, Chubb expects our insureds will achieve a methane emissions intensity of 0.2% or less by 2030 across their global operations. Chubb will continue to provide coverage for clients that are able to report their methane emissions intensity, are engaging in direct measurement of methane emissions, and demonstrate progress towards achieving methane emissions intensity of 0.2% or less. We may decline coverage if a potential policyholder cannot meet our methane performance expectations. · For midstream oil and gas operations with annual revenues greater than $1 billion, Chubb expects our insureds will achieve a methane emissions intensity of 0.2% or less by 2030 across their global operations. Chubb will continue to provide coverage for clients that are able to report their methane emissions intensity, are engaging in direct measurement of methane emissions, and demonstrate progress towards achieving near zero methane emissions intensity. We may decline coverage i

View Full Filing

View this DEFA14A filing on SEC EDGAR