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Chubb Boosts Buyback

It adds 20 million shares.
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Chubb

(CB)

added 20 million shares to its buyback plan.

The Warren, N.J., insurer said the plan covers 4.9% of its shares outstanding at Sept. 30.

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The move adds to an existing 28 million-share buyback program, under which 636,638 shares remain available for repurchase.

"This action reflects the Board's confidence in the strength of Chubb's financial condition as well as our commitment to manage our capital efficiently," said CEO John D. Finnegan.