The board of directors of Chubb Limited CB recently authorized a share buyback program to return more value to investors. The latest authorization will allow the company to spend up to $1.5 billion to repurchase its common stock through 2021.The company’s previous share repurchase program, approved on November 2019, will expire on Dec 31, 2020. The company bought back shares worth $326 million in the first nine months of 2020. Therefore, with the new authorization, the company now has $1.12 billion left under the buyback program.Though it suspended share repurchase activity during the second and third quarters of 2020, as a result of the coronavirus pandemic, it resumed share repurchases on Oct 29, 2020.The board of directors of Chubb Limited also declared a quarterly dividend of 78 cents per share. The dividend will be paid out on Jan 8, 2021 to shareholders of record as of Dec 18, 2020.The property and casualty (P&C) insurer remains committed toward boosting shareholders’ value through such share repurchases and dividends. A sustained operational performance over the years has enabled the insurer to raise optimism among investors as well.Not only share buybacks, Chubb also remains committed toward boosting shareholder value via dividend hikes. This property and casualty insurer has increased dividends at a seven-year CAGR of 8.5%. It has increased dividends for 27 straight years, with the latest hike of 4% announced this year in May. Its dividend yield of 2.1 % is higher than the industry average of 0.4%. Such initiatives not only reflect the operational and financial strength of the company but also make the stock attractive to yield-seeking investors.Chubb boasts a strong capital position, with sufficient cash generation capabilities. Its operating cash flow increased 59.1% year over year in the last reported quarter. Such improvement in capital as well as liquidity position will not only allow the company to return more value to investors but also accelerate the company’s growth in the near term.Recently, Assurant’s AIZ board of directors approved a 5% hike while the board of American Equity Investment Life Holding Company AEL approved a 6% hike in its annual dividend. Also, RLI Corp. RLI approved a special cash dividend of $1.00 per share.Zacks Rank and Share Price MovementChubb currently carries a Zacks Rank #3 (Hold). Shares of Chubb have lost 5.3% year to date compared with the industry’s decline of 5.3%. However, we expect premium growth, discreet strategic initiatives and a robust capital position to turn the stock around in the near term.5 Stocks Set to DoubleEach was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report RLI Corp. (RLI): Free Stock Analysis Report Chubb Limited (CB): Free Stock Analysis Report Assurant, Inc. (AIZ): Free Stock Analysis Report American Equity Investment Life Holding Company (AEL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research