Chubb made an unsolicited $23.2 billion bid for The Hartford. As Dr. Robert Hartwig points out, there are commercial lines synergies, but “he described the Chubb proposal as a chess game by CEO Greenberg, with the commercial lines business being the initial move of the pawn in a strategy that anticipates capturing the personal lines business ‘a couple of moves down the chess board.'” Read the Insurance Journal article here.