Chubb

Chubb Tempest Re is a global reinsurer under Chubb Limited, specializing in property catastrophe and specialty treaty reinsurance. In 2023, it reported $5.4 billion in assumed premiums and $3 billion in net income.

History of Chubb Tempest Re

Chubb Tempest Reinsurance was formed in 1996 when ACE Limited bought Tempest Re, a reinsurer in Bermuda. This move helped them enter the property catastrophe reinsurance business.

In 2016, ACE bought The Chubb Corporation and started using the Chubb name worldwide. Here are other important moments in their history:

• 1998: ACE bought CAT Limited to grow its catastrophe reinsurance work
• 1999: bought Cigna’s P&C business and gained a global network
• 2006: took full ownership of Sovereign Risk Insurance Ltd. in Bermuda
• 2009: Chubb Tempest Re began building its global reinsurance business outside Bermuda
• 2012: launched new reinsurance services in Europe and Asia
• 2016: ACE changed its name to Chubb after buying The Chubb Corporation
• 2018: added new tools to better model and manage catastrophe risks
• 2021: Sam Peters became head of Chubb Tempest Re Bermuda
• 2023: Wayne Ashley became head of Chubb Tempest Re International

Chubb Tempest Re has grown through steady expansion and experienced leadership. It focuses on smart underwriting and serving global clients.

Reinsurance products and services

Chubb Tempest Re is a global multi-line reinsurer known for strong risk models and deep underwriting skill. Its offerings support primary insurers across many regions with tailored property, casualty, and specialty reinsurance:

Property catastrophe reinsurance

• aggregate excess of loss: covers total losses above a set amount for the year
• occurrence excess of loss: protects against large single events like earthquakes or hurricanes 
• reinstatement premium protection covers: helps cover cost to restore reinsurance after a claim
• proportional catastrophe peril treaties: shares a portion of catastrophe risk between reinsurer and insurer 
• options on catastrophe excess of loss: offers the right to buy cover after specific events 
• back-up covers: adds extra protection if main cover is used or exhausted

Casualty reinsurance

• personal accident and life catastrophe excess of loss: protects against grouped losses from life or accident claims 
• workers’ compensation catastrophe: covers mass injury losses in the workplace from a single event

Specialty reinsurance

• terrorism risk excess: provides cover against large-scale terrorism-related insurance claims
• US crop aggregate excess: shields insurers from crop-related losses over a defined amount 
• cat bonds: transfers risk to investors through catastrophe-linked securities 
• industry loss warranty covers: pays out if industry losses exceed a set threshold

Chubb Tempest Re helps insurers stay strong when major events strike. Its tailored solutions aim to reduce balance sheet pressure and respond quickly to client needs.

Culture and core values

Chubb Tempest Re promotes a culture shaped by shared behavior, pride in craft, and mutual respect. Its teams value precision, a can-do mindset, and a strong commitment to keeping their word.

Workforce and purpose

The company builds a strong team by supporting career growth, inclusion, and values-driven action:

• giving back: supports local communities through grants, scholarships, volunteer work, and sponsorship programs
• creating a culture of anti-racism: focuses on racial equity, career access, and belonging for Black professionals
• investing in people: promotes skill development and leadership growth through structured career support programs
• seeing the value of everyone: embraces diversity by recognizing each employee’s role in building stronger outcomes

Chubb Tempest Re stands behind every promise to deliver service with speed, care, and integrity.

Employee benefits

The company offers global employee programs that support health, well-being, and financial security. In the US, benefits include the following examples of coverage and support options:

• medical and pharmacy: Aetna, Horizon, and Kaiser plans with Express Scripts or Kaiser Pharmacy
• dental and vision: Aetna dental and EyeMed vision with full preventive care and eyewear coverage
• financial protection: life, AD&D, and disability insurance up to $3 million (Prudential, NY Life)
• mental health support: EAP with eight free sessions, legal help, and financial counseling (Aetna)
• family care: up to 12 weeks parental leave, Progyny fertility, and $3,500 adoption support
• extras and perks: wellness programs, legal plans, identity protection, pet insurance, and PerkSpot discounts

These benefits support full-time and part-time employees working at least 24 hours per week.

The future at Chubb Tempest Re

Sara Brenwald, chief actuary at Chubb Tempest Re, was named an Elite Woman in Reinsurance in 2024. The award honors women leaders who shape the reinsurance industry through impact and new ideas. Her recognition shows that the firm values strong leadership and a team built on diverse voices.

Chubb Tempest Re is a lead participant in Universal Insurance Holdings’ 2025–26 catastrophe reinsurance program. The $352 million deal offers multi-year protection against major weather and disaster losses through 2027. Its involvement deepens the company’s US catastrophe exposure and signals long-term market confidence.