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Dino E. Robusto, the former head of Chubb Corp.'s commercial and specialty lines business, will become chairman and CEO of CNA Financial Corp. effective December 2016.
Mr. Robusto will succeed Thomas F. Motamed, who will retire from those positions at the end of 2016, Chicago-based CNA said Monday in a statement. Mr. Motamed, who has served in his role since 2009, after a 31-year career at Chubb. He will continue as CNA's chairman and CEO until Mr. Robusto joins the insurer.
Mr. Robusto, who comes to CNA after almost 30 years at Warren, New Jersey-based Chubb Corp., was named executive vice president of Ace Ltd. and co-president of its North American Insurance division in July, pending the completionof Ace's acquisition of Chubb, which was announced earlier this year.
His responsibilities at ACE would have included executive operating responsibility for the company's retail commercial property/casualty insurance businesses serving the middle market and small customer segment for all products in the United States and Canada.
“Dino is an outstanding insurance professional with a strong track record of success and leadership experience across virtually every industry discipline,” James S. Tisch, a member of CNA's board of directors and the CEO of Loews Corp., CNA's largest shareholder, said in a statement announcing Mr. Robusto's CNA appointment. “After an exhaustive search process, CNA's board is confident that we have selected the ideal individual for the job. We feel that Dino has the qualities necessary to lead CNA into its next phase of growth, building on the phenomenal work that Tom has done over the past seven years.”
It was announced in August that longtime Chubb executive Julie Stephenson would join CNA as senior vice president and chief underwriting officer for CNA Commercial.
Longtime Chubb executive Julie Stephenson will join rival insurer CNA Financial Corp. as senior vice president and chief underwriting officer for CNA Commercial.