Reinsurance News


Chubb proposes $1.15tn state-backed pandemic BI scheme

9th July 2020

Global insurer and reinsurer Chubb has put forward a proposal for a public-private partnership program to provide business interruption (BI) cover for all kinds of US business ahead of the next pandemic. The company envisions the scheme’s total capacity at around $1.15 trillion, consisting of an aggregate limit of $750 billion ... Read the full article

Chubb reports Q2 cat losses of $1.8bn; COVID-19 hit of $1.37bn

7th July 2020

Global insurer and reinsurer Chubb has announced that the impacts of the COVID-19 pandemic, combined with severe weather-related events and civil unrest in the U.S., has resulted in global net catastrophe losses of $1.807 billion (pre-tax) for the second-quarter of 2020. Chubb reveals that its Q2 catastrophe loss estimates include COVID-19 ... Read the full article

Chubb announces key appointments within Global Markets marine team

5th June 2020

Global insurer and reinsurer Chubb has announced the continued expansion of its Marine team within Chubb Global Markets (CGM) with a number of key appointments. Frank Chu joins the expanding team as Marine Cargo Underwriter. In this role, he will be tasked with strengthening the overall capability of the existing Cargo ... Read the full article

$100bn industry loss from COVID-19, says Chubb CEO Greenberg

26th May 2020

Evan Greenberg, the Chief Executive Officer of global insurer Chubb, expects coronavirus to inflict upwards of $100 billion in losses for the industry. Speaking to the New York Times, Greenberg said claims will come from all sides and be exacerbated by the accumulation of investment losses. However, Greenberg noted that business interruption ... Read the full article

Chubb names CUO for North America small & middle market division

19th May 2020

Global insurer Chubb has appointed Michelle McLaughlin as Chief Underwriting Officer of its North America retail commercial property and casualty insurance division that serves middle market and small businesses. In this capacity, she will guide the business lines' underwriting strategies and authority, as well as general underwriting management. McLaughlin previously served as ... Read the full article

Chubb appoints Peter Bremner head of mgmt liability for CGM division

12th May 2020

Global insurer Chubb has announced the appointment of Peter Bremner as head of management liability for Chubb Global Markets and regional head of Financial Lines, Eurasia & Africa. Bremner was previously senior underwriter, Financial Lines for CGM, and has held several underwriting roles for Chubb in both London and New Zealand. He ... Read the full article

Chubb adds Annmarie Hagan as VP, Chief Accounting Officer

7th May 2020

Global insurer Chubb has appointed Annmarie Hagan as group Vice President and Chief Accounting Officer. Hagan has more than 35 years in insurance, accounting and financial management and has served as Global Controller of Chubb since 2016. Hagan will now take responsibility for the company's corporate and regulatory accounting matters; managerial and ... Read the full article

Chubb appoints Robert Wilson to Deputy CUO role

6th May 2020

Global insurer Chubb has announced the appointment of Robert Wilson as Deputy Chief Underwriting Officer and Head of Underwriting Operations for Chubb Global Markets (CGM). Wilson will have responsibility for growing the business and to further enhance the operational resilience and underwriting of CGM. He reports to Jason Keen, Division President, Chubb ... Read the full article

Chubb names Guney Celik as Regional Head of Marine, Eurasia & Africa

28th April 2020

Global insurer and reinsurer Chubb has announced the appointment of Guney Celik as Regional Head of Marine for Eurasia & Africa, effective immediately. Guney, who previously led Chubb's Marine portfolio in Turkey since 2017, takes responsibility for the ongoing expansion of the company's marine presence in the Eurasia & Africa region, ... Read the full article

COVID-19 will be the biggest event in insurance history: Chubb CEO

27th April 2020

Chubb CEO Evan Greenberg has said that the coronavirus (COVID-19) pandemic is likely to become the “largest event in insurance history” once all the costs are added up. Speaking as part of an earnings call alongside the release of Chubb’s Q1 results, Greenberg assured investors that the pandemic would be ... Read the full article

Chubb appoints Markwick-Day to CUO role within overseas general energy division

24th April 2020

Global re/insurer Chubb has announced the appointment of Melanie Markwick-Day as upstream energy senior underwriting officer for its overseas general energy division. Markwick-Day previously worked for Lloyd’s syndicates Ascot and Neon as upstream energy class underwriter. She is based in London and reports to Andrew Brown, Chief Underwriting Officer, global energy. Her remit ... Read the full article

Financial market volatility hits Chubb in Q1, COVID-19 impact limited so far

22nd April 2020

Chubb's Q1 net income fell by more than 75% year-on-year to $252 million as a result of financial market volatility in the credit, equity and foreign exchange markets, with the firm's book value per share decreasing by 5.5% in the quarter. The insurer and reinsurer highlights the mark-to-market impact from financial ... Read the full article

Forced COVID-19 payments could “bankrupt” industry: Chubb CEO

17th April 2020

Legal efforts to make insurers retroactively pay for business interruption losses related to the coronavirus (COVID-19) pandemic could “bankrupt the industry,” according to Chubb CEO Evan Greenberg. Speaking in an interview with Bloomberg, Greenberg said that the insurance industry is “a fundamental part of the economic plumbing” of the US, and ... Read the full article

Chubb says no layoffs during COVID-19, makes pandemic relief commitment

6th April 2020

Global insurer and reinsurer Chubb has announced that it will not layoff any of its employees during the ongoing COVID-19 (coronavirus) pandemic. At the same time, the re/insurer has revealed a commitment of $10 million to pandemic relief efforts globally. As countries around the world continue efforts to stop the spread of ... Read the full article

Chubb appoints Construction Industry Practice Leader

5th March 2020

Global insurer Chubb has announced the appointment of Stephen Buonpane as Construction Industry Practice Leader for its large account segment. In this capacity, he will oversee strategic direction, while leading a team of construction underwriting and service specialists across multiple lines of business. Buonpane will succeed Bill Hazelton who was recently named ... Read the full article

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