Chubb makes two senior promotions
Chubb has named John Lupica as president for North America Insurance, the company's largest division, and Paul Krump as vice chairman of global underwriting and claims.
Lupica, currently vice chairman of Chubb Group and president of North America major accounts and specialty insurance, takes his new post on September 1. He will have executive responsibility for all Chubb’s general insurance business in the US, Canada and Bermuda. The scope of responsibility includes all products, underwriting, marketing and sales, claims, actuarial and support functions related to these business lines.
Krump will also take up his post on September 1 and will retain his current senior executive responsibility for global claims and risk engineering. In his new role he will oversee high-level underwriting policy and standards-setting and provide operational direction and oversight in underwriting execution across Chubb's property and casualty insurance product lines.
Krump will maintain and enhance the company's global underwriting standards, rules, authorities and risk management. In partnership with the presidents of the company's North American and international P&C operations, he will share accountability for underwriting standards and the profitability of the P&C books of business, and all underwriting and product line managers will matrix to him for underwriting.
The global underwriting and corporate underwriting functions will report to Krump and he will supervise the global product boards, portfolio management processes and underwriting audits.
Both Lupica and Krump will report jointly to Evan Greenberg, chairman and chief executive officer, and to John Keogh, executive vice chairman and chief operating officer.
Greenberg called Lupica “an outstanding leader and insurance professional”, highlighting his track record of success building, managing and leading businesses.
“From managing professional lines, to major accounts, to Chubb Bermuda, to Westchester, and finally to assuming responsibility for our field operations and agriculture insurance business, over the years [Lupica] has proven his ability to learn, lead, grow and make better any business he touches,” Greenberg said.
Keogh added: "John Lupica and I have been partners for nearly 15 years, and he is without doubt one of our industry's most experienced and accomplished insurance executives. Since the ACE-Chubb merger in 2016, we have operated our North America P&C insurance business with two great leaders. The time has come to have one outstanding executive lead this premier business spanning all of our divisions.”
Greenberg also described Krump as “an underwriter's underwriter, a consummate insurance professional.”
He added: "Chubb is an underwriting company and there is nothing more important than our core business of conceptualising, structuring, pricing and assuming risk for a fair return on capital.”
