ACE Limited, which announced plans to acquire Chubb for $28 billion earlier this month, has designated a post-merger leadership team for the North American Insurance operations of the combined company.
The North America leadership team for the company to be formed after the merger includes: ACE’s John Lupica, Chubb’s Dino Robusto and Chubb’s Harold Morrison Jr.
The company also announced a key global underwriting and claims appointment.
The appointments will take effect upon completion of ACE’s acquisition of Chubb, which is expected in the first quarter of next year. The merged company will assume the Chubb corporate name.
The management team appointments are organized according to specific commercial and personal property/casualty customer segments – large corporate clients; middle market and small commercial clients; and affluent and high net worth (HNW) personal lines clients.
Lupica will serve as vice chairman of the parent company and co-president of the North America Insurance division. Currently vice chairman of ACE Group and chairman of the company’s Insurance-North American businesses, Lupica will have executive operating responsibility for the retail commercial P/C insurance businesses that serve the large corporate market in the U.S. and Canada, the excess and surplus lines (E&S) market in the U.S. and Bermuda, and the agriculture insurance market in the U.S.
Reporting to Lupica will be the company’s business that provides P/C insurance coverage to large domestic and multinational corporations through retail brokers and agents (currently known as ACE USA and the large corporate business of Chubb); the company’s U.S.-based E&S and specialty products business (currently known as ACE Westchester and Chubb Custom); the company’s insurance operations in the Bermuda wholesale market (currently known as ACE Bermuda and Chubb Atlantic); and the company’s agriculture insurance business.
Lupica’s scope of responsibility will include all P/C products, underwriting, claims, actuarial and support functions related to these businesses. Lupica will also have executive responsibility for the company’s branch operations and field organization in North America that serves the agents and brokers of Chubb and ACE, and he will have responsibility for North America’s information technology group.
Lupica will report to John Keogh, who is currently vice chairman and chief operating officer of ACE Group and who will continue to serve in that role for the parent company.
Robusto will serve as executive vice president of the parent company and co-president of the
North America Insurance division. Currently president of Commercial and Specialty Lines for Chubb,Robusto will have executive operating responsibility for the retail commercial P/C insurance businesses serving the middle market and small commercial customer segments for all products in the U.S. and Canada through a broad distribution system that includes independent agents and brokers.
In addition, the company’s personal lines insurance business serving affluent and HNW individuals and families in North America (currently known as ACE Private Risk Services and Chubb Personal Insurance) will report to Robusto. Robusto’s scope of responsibility will include all P/C products, underwriting, claims, actuarial and support functions related to these businesses, as well as a responsibility for the field organization personnel responsible for the sales and servicing of the middle market, small commercial and HNW personal lines markets. Robusto will also have executive responsibility for the company’s North American claims organization serving both commercial and personal P/C customers. Robusto will report to Keogh and will join the parent company’s Executive Committee.
Morrison will serve as senior vice president of the parent company and executive vice president and chief field officer for the North America Insurance division. Currently chief global field officer and chief administrative officer for Chubb, Morrison will be responsible for the branch and field organization that includes more than 50 offices in the U.S. and Canada. Morrison will ensure the field organization is aligned with the company’s North American growth strategies and he will be responsible for servicing and managing the business and company relationships with the company’s agent and broker distribution partners in North America. Morrison will report to Lupica.
The company also announced that Paul Krump, currently president of Personal Lines and Claims for Chubb, will serve as executive vice president for Global Underwriting and Claims for the parent company. Krump will provide counsel, assistance and direction to Frank
Lattal, who is currently chief claims officer for ACE Group and who will continue to serve in that role and report to Krump. Krump will also partner with Jacques Bonneau, who is executive vice president, Global Underwriting, ACE Group and who will continue to serve in that role. Krump will report to Keogh and will join the parent company’s Executive Committee.
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