Chubb Names Michael Kessler Chief Reinsurance Officer

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Jul 28, 2016, 05:55 ET

ZURICH, July 28, 2016 /PRNewswire/ -- Chubb Limited (NYSE: CB) today announced that Michael Kessler has been appointed Vice President, Chubb Group and Chief Reinsurance Officer. Currently, Mr. Kessler is Chief Actuary of Chubb Overseas General, the company's international general insurance business. Mr. Kessler succeeds William O'Farrell, who has served as the company's Chief Reinsurance Officer since 2005 and is leaving Chubb to pursue other business opportunities.

In his new role, Mr. Kessler will have management responsibility for the design and purchase of reinsurance programs for Chubb and its business units globally, managing the company's reinsurance recoverable asset and overseeing relationships with its reinsurers and reinsurance brokers. Mr. Kessler will also serve as Chairman of Chubb's Reinsurance Security Committee and as a member of its Global Credit Committee. He will report to John Keogh, Executive Vice Chairman and Chief Operating Officer of Chubb Limited. The appointment will be effective August 1, 2016.

"We thank Bill O'Farrell for more than a decade of strong, effective leadership as Chief Reinsurance Officer. We wish him the best in his new endeavors," said Mr. Keogh. "We are particularly pleased to appoint Mike Kessler to this important leadership role for our company. Mike is an experienced actuarial executive with a long tenure at ACE and Chubb. He has impressive technical capabilities and experience, both U.S. and international actuarial experience, and deep first-hand insight into our businesses around the globe. He is also a proven partner to our company's insurance businesses and has actively supported our business unit leadership on the analysis of their reinsurance needs and reinsurance purchasing decisions."

Mr. Kessler has 25 years of experience in insurance and actuarial consulting. Since 2008, prior to ACE's January 2016 acquisition of Chubb, he has served as Chief Actuary for the company's international general insurance business. Mr. Kessler joined ACE in 2003 as Senior Vice President and Chief Actuary for the specialty group of ACE Westchester, the company's commercial property and casualty excess and surplus lines business. For the previous decade, he held senior manager and consulting actuary positions at Ernst & Young LLP and PricewaterhouseCoopers LLP. He began his career at Aetna Life and Casualty. Mr. Kessler holds a BA in Mathematics from Cornell University. He is a Member of the American Academy of Actuaries, a Fellow of the Casualty Actuarial Society and holds the Chartered Financial Analyst designation.

About Chubb

Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: new.chubb.com.

SOURCE Chubb Limited