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Chubb to Acquire Cigna's $ 3 Billion Premium Revenue Personal Accident , Supplemental Health and Life Insurance Business in Seven Asia - Pacific Markets for $ 5.75 Billion OCTOBER 7 , 2021 - Acquisition further balances Asia's share of Chubb's global portfolio - from approximately $ 4 billion to $ 7 billion in net premiums written , or approximately 20 % of the company ( excluding China ) - Global A & H premiums grow from $ 3.7 billion to $ 6.1 billion - Asia life company premiums increase from approximately $ 1 billion to $ 4 billion - Immediately accretive to core operating income per share and ROE for full - year 2023 by 6 % and approximately 55 bps , respectively ZURICH , Oct. 7 , 2021 / PRNewswire / -- Chubb Limited ( NYSE : CB ) today announced a definitive agreement to acquire the life and non - life insurance companies that house the personal accident , supplemental health and life insurance business of Cigna ( NYSE : CI ) in seven Asia - Pacific markets for $ 5.75 billion dollars in cash . The operations to be acquired include Cigna's A & H and life business in Korea , Taiwan , New Zealand , Thailand , Hong Kong and Indonesia and its interest in a joint venture in Turkey . These operations generated approximately $ 3 billion in net premiums written in 2020 . This highly complementary transaction advances Chubb's strategy to expand its presence in the Asia - Pacific region , a long - term growth area for the company , and adds to an already sizable A & H business while expanding the company's Asia - based life insurance presence . Upon completion of the transaction , Asia - Pacific's share of Chubb's global portfolio will increase from approximately $ 4 billion to $ 7 billion in premium and represent approximately 20 % of the company ( excluding China ) . Over 80 % of the premiums from the business to be acquired are from supplemental A & H products , further building Chubb's leadership in global supplemental A & H , with premiums growing from $ 3.7 billion to $ 6.1 billion . Together , A & H and life will comprise 21 % of the company's overall premium revenue compared to 14 % today . " The addition of Cigna's business , which is overwhelmingly A & H , will further balance our global portfolio toward this important region , " said Evan G. Greenberg , Chairman and Chief Executive Officer of Chubb . " We have long admired and respected Cigna's business in Asia including its talented people , innovative products , technical and analytical capabilities , distribution and management . We know these businesses well as we already have a sizable operation of our own in the region and globally . These businesses produce very stable , high - quality earnings . The digital opportunity across the region is large and untapped and suitable for our direct - marketed A & H products and our consumer P & C and simple life insurance products . We are looking to the future . Broadly across the region , Chubb will be better able to capitalize on market and product opportunities with strong brand , complementary direct marketing skills and the cross - selling of Chubb's non - life product to life customers . " " Our agreement with Chubb is another step forward in advancing our strategic focus on our global health services portfolio , " said David M. Cordani , president and chief executive officer , Cigna Corporation . " We are proud of our success in building these accident , supplemental and life benefits businesses in Asia Pacific and improving the well - being and sense of security of our customers throughout the region . " Attractive Shareholder Returns The underlying economics and value creation of the transaction are very attractive . Upon close , the transaction is expected to be immediately accretive to Chubb's core operating earnings per share and return on equity ( ROE ) for full - year 2023 by 6 % and approximately 55 basis points , respectively . Deal ROE goes from 11 % to 14 % over five years after PGAAP adjustments . The company also expects a strong return on investment ( ROI ) , with a three - year ROI of 15 % and an IRR of approximately 20 % . The tangible book value per share dillution is expected to earn back within six months . There is strong , steady cash generation with high dividend payout capacity of approximately 70 % of operating income . The company will maintain its strong balance sheet and does