Chubb has announced the appointments of Paul Krump as Vice Chairman, Global Underwriting and Claims, and John Lupica as President, North America Insurance Operations.
Krump currently serves as Executive Vice President, Chubb Group and President, North America Commercial and Personal Insurance, while Lupica is Vice Chairman, Chubb Group and President, North America Major Accounts and Specialty Insurance.
The appointments are effective September 1, and both Krump and Lupica will report jointly to Evan G. Greenberg, Chairman and Chief Executive Officer, and to John Keogh, Executive Vice Chairman and Chief Operating Officer.
In his new role, Krump will oversee high-level underwriting policy and standards-setting, and provide operational direction and oversight in underwriting execution across Chubb’s property and casualty (P&C) insurance product lines, which include commercial P&C, personal lines and accident and health insurance globally.
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.
Additionally, Krump will retain his current senior executive responsibility for global claims and risk engineering for the company.
“Chubb is an underwriting company and there is nothing more important than our core business of conceptualizing, structuring, pricing and assuming risk for a fair return on capital,” said Greenberg.
“Paul Krump is an underwriter’s underwriter, a consummate insurance professional. His experience, knowledge and judgment have few peers. Since the merger, I have had the honor of working closely with Paul, and my confidence in and admiration for who he is, his skill and leadership, are complete,” he continued. “Paul’s appointment, most assuredly, will make us even stronger.”
Keogh also commented: ” The creation of the global chief underwriting role is an acknowledgment of our desire to lift our game even higher and Paul, given his proven experience, wisdom and leadership, and the respect he commands within our company, is the right executive to lead us.”
Lupica, meanwhile, will have executive responsibility for all Chubb general insurance business in the US, Canada and Bermuda including commercial P&C, personal lines, agriculture, and accident and health insurance.
His scope of responsibility will include all products, underwriting, marketing and sales, claims, actuarial and support functions related to these business lines.
“I have worked with John Lupica for many years,” Greenberg went on. “He has grown in that time to become an outstanding leader and insurance professional. His track record of success building, managing and leading businesses speaks for itself.
“John’s relentless attention to detail matched with an unrivaled will to win combine to make him simply a world-class executive and business partner,” Greenberg added. “I have every confidence in his abilities to lead North America to greater heights.”
Keogh further stated: “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 … The time has come to have one outstanding executive lead this premier business spanning all of our divisions.”