Chubb Limited plans to increase its quarterly dividend of a 25th consecutive year.

The board will recommend the increase to shareholders at the company’s annual meeting.

The proposed move would lift the quarterly dividend from 71 cents to 73 cents per share, resulting in an annual dividend of $2.92.

The board of the Zurich based property and casualty insurance company, which has offices in Bermuda, also declared a quarterly dividend equal to 71 cents per share, payable on April 20, to shareholders of record at the close of business on March 29.