Chubb Donates Damaged Yves Klein Sculpture to Artist's Archives

TORONTO, Nov. 8, 2017 /CNW/ -- Chubb has donated a damaged sculpture to the Yves Klein Archives in Paris, France. Yves Klein was a world renowned French artist considered an important figure in Post-War European Art. He is known for the development of the International Klein Blue (IKB), a deep blue hue first mixed by the French artist – the uniqueness of which does not derive strictly from the well-known ultramarine pigment, but rather from the matte, synthetic resin binder in which the color is suspended, allowing the pigment to maintain as much of its original qualities and intensity of colour as possible.

The sculpture "L'Esclave de Michel-Ange, (S 20)" has been donated by Chubb after it sustained damage due to an unfortunate accident during transit. Chubb took possession of the work after settling the insurance claim with the Canadian collector.

"Rather than manage the sculpture as salvage, we decided to donate it to the Yves Klein Archives for historical preservation and educational purposes," said Paul Johnstone, Senior Vice President, Chubb Personal Risk Services, Canada. "Because of the damage sustained to the piece and the unique and rare materials Yves Klein used in his work, the sculpture could not be repaired, but it can continue to live on as part of the artist's records with the Archives."

"It is rare to have a piece donated back to our Archives for conservation and our historical records," said Daniel Moquay, Head of the Yves Klein Archives. "We are excited to add this to our collection to preserve the very unique and broad works of Yves Klein."

About Chubb
Chubb is the world's largest publicly traded property and casualty insurance company, and the largest commercial insurer in the United States. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: chubb.com.

Chubb Insurance Company of Canada has offices in Toronto, Calgary, Montreal and Vancouver and provides its products and services through licensed insurance brokers across Canada. For additional information, visit: chubb.com/ca.

SOURCE Chubb