The Chubb Classic is one of the longest-running events on the 50-plus PGA Tour Champions. However, the Naples, Fla., tournament drew some snickers and looks of confusion when the name changed from ACE Group Classic to Chubb Classic starting in 2016.
The disengaged are probably wondering what it is Chubb does.
Chubb is actually the world's largest publicly-traded property and casualty insurer. They provide, according to their website, "commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance."
Chubb has approximately $160 billion in assets and $35 billion of gross premiums written in 2016, according to their website, and they employ approximately 31,000 people.
So, before you make a Chubb joke, know that Chubb is worth big money.
The name changed as part of an acquisition, when ACE Group purchased Chubb. The transaction was completed in early 2016, and the tournament name changed as a result.
The PGA Tour Champions have been part of the early-season golf scene in Florida for years, and now the Chubb Classic stands alone as the early-season event in the Sunshine State. The relatively new Boca Raton Championship has become a Charles Schwab Cup playoffs event, meaning Naples is the lone Florida stop before heading out to Arizona.
