ACE Limited, which announced plans to acquire Chubb for $28 billion in July, has designated a post-merger leadership team for the North American insurance operations of the combined company.
The North America leadership team to be formed after the merger includes: ACE’s John Lupica, Chubb’s Dino Robusto and Chubb’s Harold Morrison Jr.
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.
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 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.
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 businesses serving the middle market and small commercial customer segments for all products in the U.S. and Canada through a broad distribution system.
In addition, the company’s personal lines business serving affluent and high net worth (HNW) individuals and families in North America (currently known as ACE Private Risk Services and Chubb Personal Insurance) will report to Robusto. Robusto will also have executive responsibility for the company’s North American claims organization serving both commercial and personal P/C customers.
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 over 50 offices in the U.S. and Canada.
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.
The District of Columbia Department of Insurance, Securities & Banking (DISB) confirmed that former DISB senior official Stephen Taylor recently rejoined DISB as its new acting commissioner.
Taylor succeeds Chester A. McPherson, who has served as DISB’s acting commissioner since April 2014. DISB said on Aug. 3 that McPherson is no longer with DISB and that no additional information is available.
Taylor was appointed by Washington, D.C., Mayor Muriel Bowser as DISB’s new acting commissioner and began his work at DISB on June 22, a DISB spokesperson said.
Taylor previously served as assistant attorney general in the Office of the Attorney General (OAG) of the District of Columbia. Prior to OAG, he was chief procurement officer for the City of Alexandria, Virginia.
Taylor, before working for the City of Alexandria, had 10 years of experience in the D.C. government, serving in roles at DISB and an agency that would later merge with DISB, the Department of Banking and Financial Institutions (DBFI). At DISB, he most recently was general counsel. He also previously served as DISB’s acting deputy commissioner and as senior counsel.
American International Group (AIG) has named a new investment officer and is buying the new executive’s firm.
Douglas A. Dachille, chief executive officer of New York City-based First Principles Capital Management LLC, will become executive vice president and chief investment officer of AIG, succeeding William N. Dooley, who is retiring.
AIG said it is acquiring First Principles, a privately held investment management firm. The transaction is expected to close in the third quarter of 2015. According to the announcement, First Principles, with approximately $10 billion of assets under management, will continue to operate as a wholly-owned subsidiary of AIG, headquartered in New York City.
Chesapeake Employers’ Insurance Company, the largest writer of workers’ compensation insurance in Maryland, announced the appointment of Charles Dankmeyer as chairman of the Board after having served as vice chairman and member since 2008.
Dankmeyer succeeds Lewis Powell, who now assumes the role of member on Chesapeake Employers’ Board.
Chesapeake Employers also announced that Suzanne Carter Thompson, president and CEO of HealthPlan Headquarters, was appointed as a member to Chesapeake Employers’ Board by Gov. Larry Hogan. Thompson replaces Ivory Tucker who recently completed his term.
Formerly known as IWIF, the Towson, Maryland-based Chesapeake Employers provides the guaranteed workers’ comp market for all Maryland-based businesses.
Was this article valuable?
Here are more articles you may enjoy.
Changes at American Coastal Insurance After Florida OIR Action on ‘No-Fly List’ 
Allstate, Nationwide Post Dramatic Q12024 Homeowners Loss Ratio Drops: S&P 
Microsoft Tells Texas Agencies They Were Exposed in Russian Hack 
Farmers Adjusters Cry Foul Over Workloads, Claims Handling in Letter to Regulators From This Issue
