P&C insurer Chubb has promoted Frances O’Brien to Executive Vice President and Chief Risk Officer (CRO) as Sean Ringstead moves on to new role as Chief Digital Business Officer.
O’Brien currently serves as Senior Vice President and Deputy CRO, a position she has held since January 2022.
In the new role, effective April 1, she will have executive responsibility for Chubb’s enterprise risk management organisation and the execution of the firm’s enterprise risk strategies and processes.
O’Brien has more than four decades of insurance industry experience. She was appointed Senior Vice President, Chubb Group and Division President, North America Personal Risk Services in 2016, leading that business until January 2022.
Before ACE acquired Chubb in 2016, she was Senior Vice President, CRO of Chubb Corporation, again holding global responsibility.
O’Brien first joined Chubb as an actuarial trainee and served in positions of increasing responsibility in actuarial, product development and underwriting, including Chubb Personal Insurance (CPI) Chief Underwriting Officer, CPI Chief Underwriting Officer for International Business, and CPI Worldwide Underwriting Manager.
Meanwhile, Chubb’s current CRO, Sean Ringsted, will continue to serve as Executive Vice President and will also take on the role of Chief Digital Business Officer.
Here, he is tasked with leading the expansion of the company’s digital business unit globally and will be responsible for the use of data and analytics to drive decision-making insights across the firm.
Ringsted has more than 30 years of experience in the insurance industry and has served as CRO of the company since 2008. In 2017, he was appointed to the additional role of Chief Digital Officer.
Before ACE acquired Chubb in 2016, Ringsted was the CRO & Chief Actuary of ACE Limited. His previous leadership roles include serving as Executive Vice President and CRO for ACE Tempest Re and Senior Vice President and Chief Actuary for ACE Tempest Re.
Ringsted was appointed Executive Vice President, ACE Group, in March 2014. Before ACE, Ringsted was a consultant at Tillinghast-Towers Perrin.
Both O’Brien and Ringsted will report to Evan Greenberg and John Keogh, President and Chief Operating Officer of Chubb.
Greenberg commented, “Fran is a seasoned executive with extensive underwriting, risk, actuarial and management experience.
“She has a long track record of success and I have every confidence in her ability to lead this important aspect of our company. Managing our own risk exposures well is foundational for a company in the risk business.”
He continued, “This change in executive leadership responsibilities recognizes the significant opportunity we have to harness our resources and deploy cutting-edge technologies, including machine learning, artificial intelligence and large-scale data, to deliver business value and strategic advantage to Chubb’s businesses.
“Under Sean’s leadership, we will also continue to expand Chubb’s digital product and service offerings.”
