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Ace Ltd. on Tuesday said it has reorganized the leadership team for its North American insurance operations to take effect upon completion of its acquisition of Chubb Corp.
John Lupica, currently Philadelphia-based vice chairman of Ace and chairman of the company's North America insurance businesses, will serve as vice chairman of the parent company and co-president of the North America insurance division, the insurer said in a statement. He will report to John Keogh, New York-based vice chairman and chief operating officer of Ace, who will continue to serve in that role for the parent company.
Mr. Lupica will have executive operating responsibility for the retail commercial property/casualty insurance businesses that serve the large corporate market in the U.S. and Canada, as well as the excess and surplus lines market in the U.S. and Bermuda and the agriculture insurance market in the United States, according to the statement.
Dino Robusto, currently Warren, New Jersey-based president of commercial and specialty lines for Chubb, will serve as executive vice president of the parent company and co-president of the North America insurance division. He will report to Mr. Keogh and will join the parent company's executive committee, the statement said.
Mr. Robusto will have executive operating responsibility for the retail commercial P/C insurance businesses serving the middle market and small commercial customer segments for all products in the United States and Canada.
Harold Morrison Jr., currently Warren, New Jersey-based chief global field officer and chief administrative officer for Chubb, will serve as senior vice president of the parent company and executive vice president and chief field officer for the North America insurance division, reporting to Mr. Lupica. Mr. Morrison will be responsible for the branch and field organization, the statement said.
“We are fortunate to have executives with this kind of leadership skill and industry experience to lead our commercial and personal P/C operations in North America,” Evan G. Greenberg, Ace's chairman and CEO, said in the statement.
In a separate statement Tuesday, the company said that Paul Krump, currently Warren, New Jersey-based president of personal lines and claims for Chubb, will serve as executive vice president for global underwriting and claims for the parent company upon completion of the acquisition.
He will report to Mr. Keogh. Mr. Krump will also join the parent company's executive committee
Ace Ltd.'s proposed $28.3 billion acquisition of Chubb Corp. plays to the strengths of both companies and will create a formidable international insurer, according to both the parties involved and market analysts.