Chubb Corp. (CB) Comments on Hartford (HIG) Proposals

Chubb Limited (NYSE: CB) issued the following statement today:

We have believed that a consolidation of our two organizations, on terms that recognized The Hartford's fair value, would be financially and strategically compelling for both sets of shareholders.

Nonetheless, The Hartford has chosen not to engage in response to any of our proposals.

The path to a transaction would have been engagement coming from The Hartford on the terms of our last proposal.

Although we are disappointed, we want to repeat that our shareholders demand of us, and we demand of ourselves, that we remain a disciplined acquiror.

Chubb is well positioned. Our organization has been and remains totally focused, capitalizing on excellent P&C market conditions and executing our longer-term operating strategies.

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