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Chubb Corp.
Chubb Corporation is the eighth largest property and casualty insurer in the United States, with over 120 offices located in 29 countries, and offers commercial, specialty, surety, and personal insurance services. As of 2015, Chubb is ranked at number 215 on the Fortune 500 list of the largest U.S. companies. Beginning in 1970, the corporation owned The Chubb Institute, a chain of commercial technical schools which grew out of the company's employee training program, but the schools were sold to the High-Tech Institute in 2004. In 2007, Chubb was named the Readers' Choice winner as "Best Admitted Property/Casualty Insurance Company" by ''Business Insurance''.〔(2007 Readers Choice Awards: Best Admitted P/C Insurance Company | Business Insurance News, Analysis & Articles )〕 In 2010 Chubb was number five on Chicago Business "Best Places to Work" list.〔(Best Places to Work No. 5: Chubb Corp. )〕 In July 1, 2015, ACE Limited announced that it will acquire Chubb Corporation for $28.3 billion in cash and stock.〔(【引用サイトリンク】title=ACE agrees to Chubb for $28.3 billion )〕 Upon completion, ACE shareholders will hold 70% while Chubb shareholders will get 30% of the new combined company. The new company will be based in Zurich where ACE Limited's headquarters is located. Evan Greenberg of ACE will be the new Chairman and CEO of the new company, while Chubb Chairman and CEO John Finnegan will be Executive Vice Chairman for North America External Affairs. The company's board will be expanded to 18 with 4 of them coming from Chubb. The new combined company will adopt the Chubb name. It is expected that the deal will close in Q1 2016, subject to approval by ACE and Chubb shareholders, and regulatory approvals.〔(【引用サイトリンク】title=ACE to acquire Chubb for $28.3 billion in cash and stock )〕Until then, Chubb and ACE will continue to operate as separate and competing companies. ==References==
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