Chubb Wins Catalyst Award For Outstanding Initiative to Advance Women in Business
NEW YORK, January 11, 2006 - The Chubb Corporation is one of three recipients of the 2006 Catalyst Award for recruitment, development and advancement
of women in business.
Catalyst is honoring Chubb for the company's Reach Up, Reach Out, Reach Down initiative, which empowers employees to take
charge of their own careers in an inclusive environment, while reaching out to and coaching their colleagues. In a press
release today, Catalyst announced that Chubb, BP p.l.c. and Safeway Inc. won its award. Catalyst is a non-profit organization
building inclusive environments and expanding opportunities for women at work.
"It's especially satisfying that we have received the Catalyst Award at the same time that we are achieving outstanding financial
results," said Chubb Chairman and CEO John D. Finnegan. "It's clear that our diversity efforts contribute to Chubb's success
by helping us attract and retain valued employees, partners, customers and investors."
Catalyst President Ilene H. Lang said, "Catalyst Award winners understand that in today's global marketplace, advancing women
and promoting diversity is a strategic business imperative with bottom line impact. Their leadership recognizes the advantage
of building a diverse management team that reflects their customers and employees and reaches new markets. As drivers of positive
change, these three outstanding initiatives are innovative and replicable, with significant, measurable results."
In its announcement, Catalyst noted that Chubb's initiative has enabled women's representation at the senior vice president
and executive vice president levels to increase markedly. From 2001 to 2005, the number of women serving as SVPs rose from
16% to 23% and as EVPs from zero to 17%.
The Catalyst Award-winning initiative highlighted Chubb's employee resource groups, including the Minority Development Council,
Women's Development Council, Gay & Lesbian Employee Network, and Asian-American Business Network, which have access to senior
leadership. In both identifying opportunities for business development and acting as a leadership development training ground,
these employee groups are able to affect company programs and policies.
In addition, Catalyst took note of Chubb's mechanisms to identify high potential employees and an array of learning and development
offerings as well as tying managers' compensation to business strategies for developing and promoting diverse employees and
reporting their diversity results to the CEO and board of directors.
Chubb, BP and Safeway will present their initiatives at the 2006 Catalyst Conference at the Grand Hyatt in New York on March
16. Later that evening, Microsoft CEO Steve Ballmer will chair an awards dinner, which will be attended by more than 250
people, including some 75 CEOs and corporate leaders.
Since 1987, the Catalyst Award has been presented annually to companies with outstanding initiatives that result in women's
career development and advancement. Catalyst's rigorous, year-long examination of initiatives and their measurable results
culminates in intensive, on-site reviews at finalist companies. The Catalyst Award provides the business community with replicable
success models for companies and women.
Catalyst is the leading research and advisory organization working with businesses and the professions to build inclusive
environments and expand opportunities for women at work. As an independent, not-for-profit membership organization, Catalyst
conducts research on all aspects of women's career advancement and provides strategic and Web-based consulting services globally.
Catalyst, which has offices in New York, San Jose, CA, and Toronto, is consistently ranked as the No. 1 U.S. non-profit focused
on women's issues by The American Institute of Philanthropy. For more information on Catalyst, visit www.catalyst.org.
The Chubb Corporation is a holding company for a family of insurance companies informally known as the Chubb Group of Insurance
Companies. The multi-billion dollar organization provides property and casualty insurance to personal and commercial customers
worldwide through 8,000 independent agents and brokers. Chubb's global network includes branches and affiliates throughout
North America, Europe, Latin America, Asia and Australia. More information on Chubb can be obtained at www.chubb.com
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