Chubb's announcement of a nearly 7 percent share repurchase authorization has prompted one analyst to question the firmness of property-casualty pricing next year.
Bear Stearns property casualty analyst David Small said the announcement by the Warren, N.J.-based p-c insurer comes in contrast to other companies that are raising equity in anticipation of price increases.
Mr. Small said the move has made his organization more bullish on Chubb. "The company has shown strong operating results over the last few quarters, and the repurchase program should put a consistent bid under the shares going forward," he wrote.
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