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ACE declares new Chubb leadership team for Overseas General Insurance division.

M2 EQUITYBITES-November 30, 2015-ACE declares new Chubb leadership team for Overseas General Insurance division

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ACE Limited (NYSE:ACE) announced on Friday that it intends to appoint a new personal lines leadership team for the new Chubb Group's Overseas General Insurance division, post the completion of Chubb's acquisition, scheduled for the first quarter of 2016.

Further, the company stated that the new Chubb Group's international personal lines division will offer a variety of traditional and speciality insurance products to targeted customers in emerging and developed markets globally: auto, residential and other insurance; property and casualty products for high net worth individuals and families with valuable possessions; and speciality coverage such as mobile phone handset insurance.

Effective upon completion of ACE's acquisition of Chubb, Darryl Page will serve as vice president (VP) of the new Chubb Group and division president of Personal Lines for the Overseas General Insurance division. Reporting to him will be John Thompson; Chris Eappariello; Simon Mobey; Raul Cisneros; Justin Boyson; Gary Willoughby; and David Byrne.

Thompson who is at present the chief underwriting officer (CUO), Personal and Business Insurance and SVP of Motor and Residential Products for ACE Overseas General, will serve as CUO and SVP of Personal Lines and lead Mass Motor and Mass Residential Products; Eappariello who is chief marketing officer (CMO) of Personal and Business Insurance and SVP of Specialty Personal Lines for ACE Overseas General, will take over as CMO and SVP of Personal Lines and lead Specialty Personal Lines; Mobey who is SVP and personal lines manager for Europe at Chubb, will serve as SVP of Personal Lines and will lead High Net Worth; Cisneros who is presently VP of Personal and Business Insurance and chief actuary for ACE Overseas General, will be VP of Personal Lines and chief actuary; and Boyson who is VP of Personal and Business Insurance and of Small and Medium Sized Enterprises for ACE Overseas General, will take over as VP of Personal Lines and Head of Operations and Strategy.

Also, the present VP of Claims, Personal and Business Insurance for ACE Overseas Genera, Willoughby will serve as VP of Personal Lines Claims; and Byrne who is VP of Personal and Business Insurance and division finance officer (DFO) for ACE Overseas General, will take over as VP of Personal Lines and DFO. Finally, Page will report to Juan C Andrade, who will serve as EVP of the new Chubb Group and president of the Overseas General Insurance division.

The company is the parent of ACE Group, a multi line property and casualty insurer operating in 54 countries. It provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients.

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Publication:M2 EquityBites (EQB)
Date:Nov 30, 2015
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