Chubb Ltd. Announces Director Elections and Compensation Changes
Ticker: CB · Form: 8-K · Filed: Aug 12, 2024 · CIK: 896159
Sentiment: neutral
Topics: governance, executive-compensation, board-of-directors
TL;DR
Chubb's board is changing, and exec pay details are out. Governance update.
AI Summary
Chubb Ltd. announced on August 8, 2024, the election of new directors and changes in executive compensation arrangements. The filing also disclosed financial statements and exhibits, along with a Regulation FD disclosure. Specific details regarding the compensation of certain officers were also provided.
Why It Matters
This filing provides insight into the governance and executive compensation structure of Chubb Ltd., which can influence investor confidence and company strategy.
Risk Assessment
Risk Level: low — The filing primarily concerns corporate governance and executive compensation, which are standard disclosures and do not indicate immediate financial distress or significant operational changes.
Key Players & Entities
- Chubb Ltd. (company) — Filer of the 8-K
- ACE Ltd (company) — Former company name
FAQ
Who were the key individuals involved in the director elections or executive compensation changes?
The filing mentions the election of directors and changes to compensatory arrangements of certain officers, but specific names of individuals are not detailed in the provided text.
What specific changes were made to executive compensation arrangements?
The filing indicates that there were changes to compensatory arrangements of certain officers, but the exact nature and details of these changes are not specified in the provided text.
When did the reported events take place?
The filing is dated August 12, 2024, and the reported events, including the date as of change, are August 8, 2024.
What is Chubb Ltd.'s primary industry?
Chubb Ltd.'s Standard Industrial Classification is FIRE, MARINE & CASUALTY INSURANCE [6331].
What is the company's fiscal year end?
Chubb Ltd.'s fiscal year end is December 31.
Filing Stats: 840 words · 3 min read · ~3 pages · Grade level 10.1 · Accepted 2024-08-12 16:24:39
Filing Documents
- tm2421427d1_8k.htm (8-K) — 44KB
- tm2421427d1_ex99-1.htm (EX-99.1) — 12KB
- tm2421427d1_ex99-1img001.jpg (GRAPHIC) — 2KB
- 0001104659-24-088369.txt ( ) — 306KB
- cb-20240808.xsd (EX-101.SCH) — 4KB
- cb-20240808_def.xml (EX-101.DEF) — 28KB
- cb-20240808_lab.xml (EX-101.LAB) — 39KB
- cb-20240808_pre.xml (EX-101.PRE) — 27KB
- tm2421427d1_8k_htm.xml (XML) — 11KB
02. Departure of Directors or Certain
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On August 8, 2024, Chubb Limited ("Company" or "Chubb") appointed George Ohsiek as Chief Accounting Officer, effective September 4, 2024. In this role, he will serve as the Company's principal accounting officer. Annmarie Hagan, the Company's current Chief Accounting Officer and principal accounting officer, has been named Chief Financial Officer of Operations & Technology and Transformation, effective September 4, 2024. In her new role, Ms. Hagan will be responsible for all financial planning and analysis activities for Chubb's technology and operations organizations. Ms. Hagan has served as Chief Accounting Officer of Chubb since May 2020. Mr. Ohsiek, age 50, has more than 25 years of accounting and finance experience. He currently serves as Chief Auditor of Chubb, a position he has held since July 2019. Prior to serving as Chief Auditor, he held various corporate finance positions at the Company, including Senior Vice President of Global Accounting Policy and Group Controller. Prior to joining the Company in 2008, Mr. Ohsiek served at the U.S. Securities and Exchange Commission and KPMG. He holds a Bachelor of Science degree in Accounting from The State University of New York College at Geneseo.
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure On August 12, 2024, the Company issued a press release announcing the appointment of Mr. Ohsiek as Vice President, Chubb Group and Chief Accounting Officer and Ms. Hagan's appointment as Chief Financial Officer of Operations & Technology and Transformation. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated into this Item 7.01 by reference. The information furnished pursuant to this Item 7.01, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933 or the Exchange Act.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibit Number Description 99.1 Press Release, Dated August 12, 2024, announcing the appointment of George Ohsiek as Chief Accounting Officer and the appointment of Annmarie Hagan as Chief Financial Officer of Operations & Technology and Transformation 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES 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 hereunto duly authorized. CHUBB LIMITED By: /s/ Peter C. Enns Peter C. Enns Executive Vice President and Chief Financial Officer DATE: August 12, 2024