ACE Ltd. announced that it intends to appoint Juan C. Andrade, as executive VP of the new Chubb Group and President of the International Non-life Insurance division, which encompasses operations with both retail broker and wholesale market distribution.
The bulletin said the “appointment will take effect upon completion of the acquisition of Chubb, which is expected in the first quarter of next year.” Andrade currently serves as executive VP of ACE Group, Personal Lines and as COO of ACE Overseas General, the company’s international non-life insurance division in more than 50 countries and territories outside North America.
ACE said that when Andrade assumes his new position he would “have executive operating responsibility for the company’s non-life insurance operations outside of the U.S., Bermuda and Canada, including commercial P&C, traditional and specialty personal lines, and accident and health insurance.”
ACE explained that its “International Non-Life Insurance division is comprised of two major businesses: one with distribution through retail brokers in six regions of the world – Europe, Asia Pacific, China, Japan, Latin America and Eurasia & Africa – and the other an excess and surplus lines company with distribution through brokers in the London wholesale market and Lloyd’s.
Andrade’s “scope of responsibility will include all products, underwriting, claims, actuarial and support functions related to these businesses. He will also “continue with his current responsibilities, including leading ACE’s global personal lines and small commercial insurance business, through the close of the transaction to ensure a smooth leadership transition and integration for those businesses.”
Andrade will report to John Keogh, who is currently vice chairman and COO of ACE Group and who will continue to serve in that role for the parent company.
ACE Ltd.’s Chairman and CEO Evan G. Greenberg noted that during his five-year tenure with ACE, Andrade “has assumed increased responsibility and with each move has demonstrated outstanding leadership. He is an excellent executive with a proven track record of accomplishment.
Keogh described Andrade as having “a deep understanding of the nuances of each local market – its geography and history, culture, economy and politics,” adding that he regards him as “a true internationalist.”
Prior to joining ACE in 2010, Andrade was president and COO of Property & Casualty Operations for The Hartford Financial Services Group. He also served as President of Commercial Markets and Executive Vice President for Sales and Distribution. He joined The Hartford in 2006 as head of the P&C claims organization.
Before joining The Hartford he held senior management positions with The Progressive Corporation, serving as general manager of the company’s Gulf Coast Region and the Southern California, Colorado and Wyoming business units. He started his insurance career at American International Group (AIG), where he worked with the company’s international property and casualty businesses both in the United States and overseas. Andrade received a Bachelor of Science in Journalism and Political Science from the University of Florida. He holds a Master of Arts degree in International Economics and Latin American Studies from the School of Advanced International Studies at Johns Hopkins University.
Source: ACE Group
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