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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.
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.
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.
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.
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.
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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