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Chubb Ltd. said Tuesday it has named Michael Kessler as division president of the company’s global cyber risk insurance business, effective immediately.
In his new role, Mr. Kessler will oversee all facets of the business, including strategy, product and business development, underwriting and service operations, and overall profit and loss performance, Chubb said in its statement. The position has been vacant.
He was named vice president of Chubb Group, a title he still holds, and chief reinsurance officer in 2016.
Mr. Kessler, who is Philadelphia-based, reports to Paul Krump, who was named vice chairman, global underwriting and claims in August.
Chubb said Jeremiah Konz, now London-based executive vice president, reinsurance officer for Chubb Overseas General, the insurer’s international general insurance business, will replace Mr. Kessler as chief reinsurance officer.
Mr. Konz will have management responsibility for the design and purchase of reinsurance for Chubb and its business units globally, managing the company’s reinsurance recoverable assets and overseeing relationships with its reinsurers and reinsurance brokers, the company said.
He will also serve as chairman of Chubb’s reinsurance security committee and as a member of its Global Credit Committee.
Chubb Ltd. named Robert Poliseno chief operating officer, North America field operations, the insurer said in a statement Tuesday.