Chubb responds to The Hartford

Last week, The Hartford has announced its board of directors has rejected Chubb’s “unsolicited proposal” to acquire the company for $23.24 billion and determined that entering into discussions regarding a strategic transaction would not be in the best interests of the company and its shareholders.

Today, Chubb issued the following statement:

“Although we were disappointed that The Hartford chose not to engage in discussions regarding a strategic business combination, our shareholders demand of us, and we demand of ourselves, that we remain a disciplined acquiror with an uncompromising focus on the fair value of any institution that we could acquire.”