ACE Announces Future Leadership Team for Global Surety Business Unit

December 2, 2015

ACE Ltd. announced the leadership team it has appointed for the company’s Global Surety business unit, which will take effect upon completion of the acquisition of Chubb, expected in the first quarter of 2016.

As previously announced, Stephen Haney will serve as division chairman, North America Surety, and chief underwriting officer, Global Surety. Haney is currently division president, Surety, for ACE USA, and chief underwriting officer, Global Surety, for ACE Group. Haney will continue to report to John Lupica, who will serve as vice chairman of the new Chubb Group, and president, North America Major Accounts and Specialty Insurance.

Richard Ciullo, as previously announced, will serve as chief operating officer of North America Surety. Currently senior vice president and chief operating officer for Chubb Surety, Ciullo will assist in the P&L performance of the product line and, together with Haney, will be responsible for the successful integration of ACE and Chubb surety products “in order to deliver a best-in-class offering to the company’s brokerage distribution partners,” said ACE in a statement announcing the surety appointments.

Teresa Black will serve as head of Commercial Surety for the United States and Canada. Black is currently senior vice president and chief operating officer for ACE’s Surety division. She will be responsible for the strategy and product management of commercial surety products and services offered through the Major Accounts, Commercial Insurance and Small Commercial business units that serve customers in the U.S. and Canada.

Matthew Lubin will serve as head of Construction and International Surety. Lubin is currently senior vice president and chief underwriting officer for Chubb Surety. Lubin will be responsible for the strategy and product management of contract surety products and services offered through the Major Accounts, Commercial Insurance and Small Commercial business units that serve customers globally.

Ciullo, Lubin and Black will report to Haney.

Underwriting Leadership

Global Surety underwriting will be organized by client size, scope and territory, ACE said. The three business segments are Engineering & Construction, Construction Surety, and Commercial Surety.

  • Engineering & Construction Leadership.Richard Barnett will serve as director, Engineering & Construction. Barnett will have underwriting responsibility for clients that operate with a broad footprint in North America and/or globally, and will also support surety branch underwriting activities in Asia, Canada and Europe. Barnett is currently senior vice president and surety director, National Engineering & Construction for Chubb. He will report to Lubin.
  • Latin America Leadership.Arturo Martinez will lead the geographic expansion, strategy and management for surety products and services offered in Latin America. Martinez is currently senior vice president, Surety Latin America for ACE. He will report to Jorge Luis Cazar, who, as previously announced, will serve as senior vice president of the new Chubb Group and regional president, Latin America, and to Haney.

Dekker Buckley will be responsible for the oversight and monitoring of surety underwriting throughout Latin America. Buckley is currently vice president and Surety director for Chubb Latin America. He will provide underwriting support for complex surety transactions, oversee the execution of underwriting best practices, and lead portfolio management for Surety operations in Latin America. Buckley will report to Lubin.

  • U.S. Construction Leadership.The U.S. Construction segment will serve clients that operate within a regional or local footprint. Kevin Waldron will be responsible for the Construction Group and Small Construction, supporting surety branch underwriting activities in San Francisco, Los Angeles, Kansas City, Cincinnati, Chicago and Minneapolis. Waldron is currently vice president and Surety Construction director for Chubb. Waldron will report to Lubin.

Donna Powers will be responsible for the Construction Group supporting surety branch underwriting activities in New York, Philadelphia, Atlanta, Houston and Warren, N.J. Powers is currently vice president and Surety Construction director for Chubb. Powers will report to Lubin.

  • Commercial Surety Leadership.The Commercial Surety segment will serve clients of all sizes that operate domestically and globally. Joseph Gaskill will be responsible for the Commercial Group, supporting surety branch underwriting activities in San Francisco, Los Angeles, Chicago and Houston. Gaskill is currently senior vice president, Commercial Surety for ACE. Gaskill will report to Black.

Craig Gortner will be responsible for the Commercial Group, supporting surety branch underwriting activities in New York, Philadelphia, Boston and Atlanta. Gortner is currently senior vice president, Commercial Surety for ACE. Gortner will report to Black.

  • Operating Leadership.Catherine Donahue will serve as Surety Operations manager. Donahue will be responsible for servicing current clients, supporting underwriting workflow, and leveraging technology. Donahue is currently vice president and Surety Operations manager and Construction director for Chubb. In addition to reporting to Ciullo, Donahue will report to James English, who is currently North America chief operations officer for ACE and will continue to serve in that role.

Christopher Parker will serve as Surety chief credit officer. Parker will be responsible for portfolio management and underwriting compliance. He is currently vice president and Surety Commercial director for Chubb. Parker will report to Haney.

“This is a truly high-performing team that represents the best surety talent in the market,” said Haney. “I highly respect the Chubb Surety team, and I have had the privilege of working with the ACE team for many years. As a combined team, we will pool our collective strengths in order to deliver best-in-class product, service and global delivery for our clients and brokers.”

“Global Surety is poised for ongoing growth and success, with Steve leading a strong team of professionals who combine industry expertise with geographical coverage,” said Lupica. “I’m excited about our prospects and look forward to providing a broad portfolio of surety solutions and services to existing and prospective clients and brokers.”

Source: ACE Group

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