Chubb completes acquisition of Cigna's PA, Health and Life business in Asia-Pacific

4 July 2022 — Andrei Victor
Chubb Limited announced that it has completed its acquisition of the life and non-life insurance companies that house the personal accident, supplemental health and life insurance business of Cigna in six Asia-Pacific markets.

Chubb paid USD 5.36 billion for the operations, which include Cigna's accident and health (A&H) and life business in Korea, Taiwan, New Zealand, Thailand, Hong Kong and Indonesia.

With the addition of Cigna's business, Asia-Pacific's share of Chubb's global portfolio will grow to approximately USD 7 billion in premium from USD 4 billion, representing about 18% of the total company premiums, with approximately 95% of the acquired business contributing to Chubb's Life Insurance segment and the remainder to its Overseas General Insurance segment.

The company's global A&H writings will increase in size to approximately USD 6 billion in premium, up from USD 3.7 billion, while the company's life insurance segment becomes a USD 5.4 billion business.

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