Is Chubb and AIG the Same Company?

When reviewing top insurance providers, you may notice the names Chubb and AIG both commonly appear. This can raise the natural question – are Chubb and AIG actually the same company? Or are they completely separate insurers that happen to be major players in the industry?

The answer is that while Chubb and AIG are currently distinct insurance carriers, they do have some shared history. AIG previously owned Chubb but divested it over 30 years ago. However, there are still some connections between the two companies today.

Below we will overview the relationship between Chubb and AIG and how they operate as leading but independent insurance companies:

Brief Backgrounds of Chubb and AIG

First, let’s provide some quick background on each company:


  • Founded in 1882 as Chubb & Son marine underwriting business

  • Became public company in 1960s then acquired by AIG in 1968

  • Rebranded from Chubb & Son to Chubb Group of Insurance Companies in 1980s

  • Divested by AIG in 1993 via an IPO, becoming fully independent

  • Acquired Chubb Corp. in 2016 to become one of largest P&C insurers globally


  • Originated as American Asiatic Underwriters in Shanghai in 1919

  • Entered US market in 1926 and renamed American International Underwriters

  • Rapid growth in 1970s; acquired SunAmerica life insurance in 1990s

  • Needed massive US government bailout during 2008 financial crisis

  • Sold off various assets (including Chubb) to repay bailout and refocus on core P&C and life insurance

So while there is some shared history, Chubb and AIG have operated as independent insurance giants for decades now. Next we’ll look at their current relationship.

Connection Between Chubb and AIG Today

Though no longer affiliated, Chubb and AIG maintain a cooperative relationship in some areas today:

  • Lloyd’s Syndicates – Chubb and AIG both participate in underwriting for Lloyd’s of London and may cooperate on risk placements.

  • Co-insurance – They may jointly insure very large corporate accounts under co-insurance arrangements to share risk.

  • Reinsurance – Chubb acts as a reinsurer for some AIG policy risks, taking on portions of coverage liabilities.

  • Benefits – AIG offers Chubb insurance products to clients of its Private Client Group for high net worth individuals.

So while completely separate carriers, they aren’t fully isolated from each other either. Next we’ll compare the companies’ offerings.

How Chubb and AIG Insurance Products Compare

Though no longer one entity, Chubb and AIG have some product overlap given their focus on commercial and specialty insurance lines:

Commercial Insurance

  • Both offer extensive commercial P&C coverages like general liability, property, workers’ comp, and more for mid-size and large businesses.

  • Chubb has a niche in specialty lines while AIG focuses more on industry-specific solutions.

Consumer Insurance

  • Chubb specializes in high net worth products via its Masterpiece® policies.

  • AIG offers individual coverages focused more on the mass affluent market.

Life Insurance

  • AIG is a leading provider of life insurance and retirement solutions.

  • Chubb has limited life insurance capabilities and instead partners with other carriers.

Specialty Coverages

  • Both offer targeted policies for risks like cyber, environmental, political risk, and kidnapping/ransom.

So while some overlap exists, the companies differentiate across market segments and products.

Chubb and AIG Financial Strength and Reach

As two insurance powerhouses, Chubb and AIG have comparable financial strength and global reach:

  • Each has over $100 billion in assets and annual revenues exceeding $30 billion.

  • They serve clients worldwide with extensive operations across 200+ countries.

  • Both have strong financial strength ratings from agencies like A.M. Best (A++ for Chubb, A for AIG).

  • Rank among largest global P&C insurers and the top 10 property/casualty writers in the US.

  • Insure a diverse set of commercial entities from small businesses to Fortune 500 companies.

Either company has the scale and capabilities to handle large, complex risks and deliver on claims obligations.

Should I Choose Chubb or AIG for Insurance?

At the end of the day, choosing between Chubb and AIG depends on your specific insurance needs:

  • For high net worth coverages, Chubb tends to be the preferred choice.

  • For middle market commercial policies, either can be a strong option.

  • For individual life insurance, AIG likelybetter suits your needs.

  • For niche specialty lines, weigh each company’s capabilities.

Work with an agent to evaluate product offerings, pricing, and customer service models. While linked historically, the Chubb vs. AIG decision should focus on which insurer best fits your priorities today.

The Bottom Line

While Chubb and AIG share some historical ties and maintain a cooperative relationship, they operate as independent insurance carriers today. Each company has strengths in certain insurance segments and geographies. By understanding their backgrounds, connections, and differentiation, you can determine the optimal insurer for your situation.

Frequently Asked Questions

Below are answers to some common questions about the relationship between insurance providers Chubb and AIG:

Are Chubb and AIG part of the same parent company?

No. Chubb and AIG are completely separate companies with no shared ownership. AIG previously owned Chubb but divested the company over 30 years ago.

Does AIG own Chubb stock or have a stake in the company?

AIG has no equity ownership or financial stake in Chubb. The companies operate independently.

Who was Chubb owned by before AIG?

Chubb began as Chubb & Son marine insurance underwriters in 1882. It was an independent public company until 1968 when AIG acquired it.

Why did AIG sell Chubb?

AIG decided to focus more on life insurance and financial services in the 1990s and no longer wanted to pursue the P&C market, so it spun off Chubb in an IPO in 1993.

Do Chubb and AIG compete for customers?

Chubb and AIG may compete for some commercial accounts. However, Chubb specializes more in high net worth while AIG targets mass affluent. They have differentiated product strengths.

Where do Chubb and AIG have offices and operations?

Chubb and AIG both operate globally, with locations across 200+ countries. In the United States, both insurers have major regional hubs in cities like New York, Chicago, Los Angeles, and Houston.

Can I buy Chubb insurance through AIG?

AIG does offer Chubb products to clients of its Private Client Group. But generally, Chubb and AIG policies must be purchased through the respective company.

Is one company seen as better for claims handling?

Chubb and AIG both have strong reputations for claims handling and financial strength. Comparison will depend on product line and geography.

Who offers more insurance products?

AIG likely offers a wider range of insurance policies across life, retirement, and specialty P&C. But both have extensive product portfolios serving many segments.

Chubb Ltd. CEO: Digitizing Insurance | Mad Money | CNBC


Who is Chubb insurance owned by?

Chubb’s History In January 2016, ACE Limited acquired the Chubb Corporation, creating the world’s largest publicly traded property and casualty insurance company operating under the renowned Chubb name.

Who owns AIG?

AIG Asset Management (US) LLC (AMG) is a SEC-registered investment advisor headquartered in New York City. The firm is wholly-owned by AIG Global Asset Management Holdings Corp., which is wholly-owned, indirect subsidiary of American International Group, Inc.

What is the company name for AIG?

American International Group, Inc. (AIG) is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions.

What is AIG life insurance called now?

AIG Life & Retirement is now Corebridge Financial.

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