By Stephen Nakrosis

Chubb Ltd. on Monday said its board authorized a one-time $5 billion share repurchase program.

The new program will run through June 30 of next year, the company said. Its existing $2.5 billion share repurchase authorization has $65 million remaining, "which would be used prior to the share repurchase program announced today," the insurance company said.

Chubb has a market cap of $74.99 billion, 449.69 million shares outstanding and a public float of 446.73 million shares.

The company's stock finished the day's trading with a 3.57% loss at $160.79 million a share. Shares were flat after hours.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

07-19-21 1715ET