Dec 13 (Reuters) - Chubb Corp (CB.N) said its board authorized the company to buy back up to 28 million shares of its common stock.
The property and casualty insurer’s existing repurchase program, which provides for the repurchase of up to 40 million shares, is expected to be completed prior to the end of the year.
The company also maintained its quarterly dividend of 29 cents a share. The dividend is payable on Jan. 15, 2008 to shareholders of record Dec. 18, 2007. (Reporting by Avishek Mishra in Bangalore; Editing by Pratish Narayanan)