Kathleen Tierney Will Succeed Andrew McElwee as COO of Chubb Personal Insurance; McElwee to Retire December 31; Mark Korsgaard to Become Worldwide Claim Officer

WARREN, N.J., Nov. 2, 2010 /PRNewswire-FirstCall/ -- The Chubb Corporation (NYSE: CB) today announced that Kathleen M. Tierney will succeed Andrew A. McElwee, Jr. as Chief Operating Officer of Chubb Personal Insurance, effective immediately. After a 25-year career at Chubb, McElwee will retire on December 31, 2010 and in the interim will assist with the transition as needed. Chubb also announced that Mark Korsgaard has been named Worldwide Claim Officer effective December 9.

Tierney, who joined Chubb in 1990 as a Surety trainee, was most recently Senior Vice President and Eastern Territory Manager for Chubb Specialty Insurance (CSI), where she was responsible for underwriting, service and talent management for professional liability lines. At Chubb, she has also held leadership positions in field management, Surety, corporate marketing and corporate development. Tierney, a past Chair of Chubb's Women's Development Council, has a B.A. in psychology from Williams College and an M.B.A. in finance and economics from the Stern School of Business.

McElwee joined Chubb in 1985. Among his positions at Chubb, he has served as Executive Vice President, International Field Operations Manager and Manager of Mergers and Acquisitions.

Korsgaard joined Chubb in 1981 as a claim examiner and has managed Chubb claim operations in several offices, including Boston, Phoenix and Westchester.  He is currently Worldwide Third Party Claim manager and previously served as Worldwide Casualty Claim Manager and Worker's Compensation Claim Manager. Korsgaard has a B.A. in economics and business administration from Upsala College.  In his new position, he will succeed Dino E. Robusto, who will assume broader responsibilities on January 1, 2011 as President of Personal Lines and Claims.

"We are grateful for Andy's many contributions during his career at Chubb, and we wish him well in his retirement," said John J. Degnan, Vice Chairman and Chief Operating Officer of Chubb. "We are fortunate that executives with Kathleen and Mark's talent, achievements and management skills will fill these positions and help lead Chubb to new heights."

Founded in 1882, the Chubb Group of Insurance Companies provides property and casualty insurance for personal and commercial customers worldwide through 8,500 independent agents and brokers.  Chubb's global network includes branches and affiliates throughout North America, Europe, Latin America, Asia and Australia.

SOURCE Chubb Corporation

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