Chubb Unit Plans to Open Reinsurance Operation in Brazil
WARREN, NJ, April 14, 2008 - Federal Insurance Company, a member of the Chubb Group of Insurance Companies, has applied for a license to operate as an
admitted reinsurer in Brazil. Federal will establish a representative office in São Paulo.
"This new entity will help us to further grow our business in Brazil," said Herman Weiss, senior vice president of Chubb &
Son and Latin American zone manager for Chubb.
Another Chubb subsidiary, Chubb do Brasil Companhia de Seguros, has operated as an admitted insurance company in Brazil since
1973. It is headquartered in São Paulo and has offices in five other Brazilian cities.
"Federal's reinsurance license will result in additional capacity for Chubb do Brasil," said Acacio Queiroz, president of
Chubb do Brasil.
Federal has an A++ financial strength rating from A.M. Best Company.
The Chubb Corporation is the holding company for a family of insurance companies. The members of the Chubb Group of Insurance
Companies form a multi-billion dollar organization that provides property and casualty insurance to personal and commercial
customers worldwide through 8,500 independent agents and brokers. Chubb's global network includes branches and affiliates
throughout North America, Europe, Latin America, Asia and Australia.
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