Brown & Brown, a leading insurance brokerage firm, appointed two Paul Krump and Bronislaw Masojada, to its board of directors.
H. Palmer Proctor, Jr., Brown & Brown’s lead independent director and chair of the Nominating/Corporate Governance Committee, expressed his confidence in the newly appointed directors.
Proctor acknowledged Krump and Masojada as highly accomplished individuals who have successfully guided some of the world’s most respected insurance companies through significant periods of growth.
Their extensive knowledge of the insurance industry and international experience are poised to play a crucial role in creating long-term shareholder value at Brown & Brown.
J. Powell Brown, the chief executive officer of Brown & Brown and a board member himself, expressed his enthusiasm for the new additions.
He highlighted the unique perspectives that Krump and Masojada bring to the table, stemming from their years of experience operating insurance companies in both the U.S. and international markets.
Brown emphasised that the company believes Krump and Masojada will serve as tremendous assets to the board and expressed his delight that they have chosen to contribute their remarkable capabilities to Brown & Brown.
Krump retired from Chubb Limited, the world’s largest publicly traded property and casualty insurance company, earlier this year.
His most recent role at Chubb Limited was that of vice chairman, global underwriting and claims, which he held from September 2020 until his retirement on January 1, 2023. Krump served as executive vice president of Chubb Group and president of North America commercial and personal insurance from 2016 to 2020.
Prior to Chubb Limited’s acquisition of The Chubb Corporation in January 2016, Krump held the position of chief operating officer at The Chubb Corporation.
Krump began his career at The Chubb Corporation in 1982 as a commercial underwriting trainee and subsequently held various leadership positions in the US and Europe, including president of personal lines and claims, as well as president of commercial and specialty lines.
Masojada served as the chief executive officer of Hiscox Group, a global specialist insurer and reinsurer listed on the London Stock Exchange, from 2000 until his retirement in 2021.
Masojada’s association with Hiscox dates back to 1993 when he joined as group managing director. Prior to his tenure at Hiscox, Masojada embarked on his professional journey at McKinsey & Company.
He also assumed prominent roles within the insurance industry, including deputy chairman of Lloyd’s of London from 2001 to 2007 and chairman of the Lloyd’s Tercentenary Research Foundation from 2008 to 2014.
Currently, Masojada serves as the chair of the board of directors of SiriusPoint Ltd.
