Chubb finalizes acquisition of Cigna's Asia Pacific business

Chubb is finalizing the acquisition of Cigna's life, personal accident and supplementary health activities in six Asia Pacific countries: South Korea, Taiwan, New Zealand, Thailand, Hong Kong and Indonesia.

Initially set at 5.75 billion USD, the amount of the transaction has been reduced to 5.36 billion USD. The price reduction follows the impact of higher interest and exchange rates on the book value acquired and other minor adjustments.

Following this acquisition, the Asia Pacific share of Chubb's global portfolio has increased from 4 billion USD to about 7 billion USD, that is, 18% of the American group's total premiums.