Chubb has announced the appointment of Adair, Lord Turner, as non-executive Chairman of its key European companies, Chubb European Group and Chubb Underwriting Agencies.
In his new position, Turner will work alongside Andrew Kendrick, Regional President for Chubb in Europe, who continues to have executive management responsibility for Chubb’s operations across the region.
Andrew Kendrick, Regional President, Europe at Chubb, said; “I am very much looking forward to working alongside Lord Adair. His extensive knowledge and unique insights will be greatly valued by our board members and will add real value to our customer and market proposition in Europe.
“I would also like to extend my sincere thanks on behalf of the Boards and Chubb management team to John Napier for his counsel, guidance and support over the past four years and we wish him well for the future.”
Turner succeeds John Napier, who recently stepped down from the role, and his appointment remains subject to regulatory approval.
Turner has previously acted as Executive Chairman of the UK’s Financial Services Authority (FSA), from 2008 to 2013, where he oversaw the UK’s policy and regulatory response to the Global Financial Crisis.
Juan Andrade, Executive Vice President of Chubb Group and President, Overseas General Insurance at Chubb, commented; “Adair Turner’s exceptional background in business, government and supervision will be of great benefit to our Boards and our business as we continue to navigate the evolving market and regulatory landscape in Europe. I am delighted to welcome him to Chubb.”
After spending his early career in banking and McKinsey consultancy, Turner acted as Director General of the Confederation of British Industry (CBI) from 1995 to 2000, before returning to banking as Vice Chairman of Merrill Lynch Europe, prior to assuming the FSA Executive Chairmanship.
Over the past two decades, he has also served in several non-executive directorships across a wide range of financial, business, government and not-for-profit boards, including the insurer Prudential since 2015.
The appointment remains subject to regulatory approval.
