Insurer Chubb has announced a share repurchase programme of up to $1.5 billion.

The company, which has underwriting operations in Bermuda, said the new authorisation would be effective through December 31, 2020.

The company has a market capitalisation of about $68 billion.

Chubb’s board of directors also declared a quarterly dividend of 75 cents per share, payable on January 10, 2020 to shareholders of record at the close of business on December 20, 2019.