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Member, Beacon International Group, Ltd.
Chubb Ltd. on Tuesday announced the death of Percy Chubb III, 81, its former vice chairman.
Details about the circumstances of his death were not immediately available.
Mr. Chubb, who was known as Pi, was the great-grandson of Thomas Caldecot Chubb and grandson of Hendon Chubb, who founded Chubb & Son in 1882.
Mr. Chubb joined the firm in 1958 after graduating from Yale University and serving two years in the army. At the time, the former Chubb Corp., which was acquired by Ace Ltd. in January, had 17 offices and $67 million in written premium.
He was elected a director of Chubb Corp. in 1978 and vice chairman in 1986, and served on its policy committee, which oversaw all facets of the business.
Mr. Chubb's day-to-day responsibilities encompassed information technology, marketing, human resources and other financial and administrative areas. He retired as a company officer in 1997.
He is survived by his wife, the former Sally Gilady, and their children and grandchildren, Chubb said in its statement.
“It was a joy to work with Pi. He was both student and teacher. He was constantly asking questions to better understand issues and opportunities while generously sharing his insights and experience,” Paul J. Krump, Chubb's New York-based executive vice president and president of its North America commercial and personal insurance, said in the statement.
“I fondly remember traveling with him and having long discussions about the art and science of underwriting. He loved the business and valued everyone's contributions. He was a true gentleman,” Mr. Krump added.