Chubb Collaborating With U.S. Government To Form Maritime Insurance Site To Offer War Marine Risk Insurance Under Previously Announced Development Finance Corporation's $20B Maritime Reinsurance Plan

Chubb (NYSE: CB) is collaborating with the U.S. Government through the U.S. International Development Finance Corporation (DFC) to establish a maritime insurance facility as part of a $20 billion Maritime Reinsurance plan. As the lead underwriter, Chubb will manage the facility, set pricing, assume risk, and issue policies for eligible vessels and cargo, while DFC will coordinate a consortium of American reinsurers. The facility aims to provide war marine risk insurance, including hull, liability, and cargo coverage, specifically for vessels transiting the Strait of Hormuz under certain conditions.