Chubb Announces Leadership Appointments in its North America Financial Lines Division

Rhea-AI Summary

Chubb has announced two new leadership appointments in its North America Financial Lines division, effective immediately. Michael Mollica is appointed to lead the Private/Not-For-Profit Management Liability business, succeeding Leigh Anne Sherman, who becomes Division President of ESIS, Inc. Stephen Troiano succeeds Mollica as Executive Vice President, focusing on U.S. Retail Financial Institutions Management Liability. Both executives bring over 20 years of industry experience and will report to Steven F. Goldman, Division President. Chubb, a leading property and casualty insurance company, aims to enhance its management liability solutions.

Positive

• Michael Mollica and Stephen Troiano bring over 20 years of industry experience each, bolstering leadership.
• New appointments aim to strengthen management liability solutions and services.

Negative

• None.

WHITEHOUSE STATION, N.J., Feb. 8, 2021 /PRNewswire/ -- Chubb has announced two new leadership appointments for its North America Financial Lines division. 

Michael Mollica, Executive Vice President, has been appointed to lead Chubb's Private/Not-For-Profit Management Liability business within the North America Financial Lines. Mr. Mollica succeeds Leigh Anne Sherman, who has been appointed Division President of ESIS, Inc., a Chubb company, and a leading third-party claims administrator. In this role, Mr. Mollica will have overall responsibility for leading the company's Private/Not-For-Profit Management Liability business, which focuses on providing Directors & Officers (D&O) Liability, Fiduciary Liability, Employment Practices Liability (EPL), Workplace Violence, Crime, and Kidnap & Ransom insurance products. He will also provide underwriting support for the Underwriting Service Branch (USB), which provides new and renewal underwriting and services for eligible management liability product offerings in the U.S.

Succeeding Mr. Mollica is Stephen Troiano, who has been named Executive Vice President and will lead the U.S. Retail Financial Institutions Management Liability business. In this capacity, he will oversee a team of underwriters focused on the addressing the management liability needs of public and private financial institutions, offering D&O Liability insurance, Professional Liability insurance and other related lines of coverage.

Both appointments are effective immediately. Messrs. Mollica and Troiano will report to Steven F. Goldman, Vice President, Chubb Group and Division President, North America Financial Lines.

"Our top priority is to continuously strengthen our ability to deliver superior management liability solutions and services to the marketplace, and both Mike and Steve have the excellent leadership and technical underwriting skills to help us achieve that," said Mr. Goldman. "These appointments underscore the remarkably strong leadership team that we have in place within North America Financial Lines, and I look forward to the impact each will have on our business moving forward."

Mr. Mollica has more than 20 years of industry experience. He earned a Bachelor of Science degree in Marketing and Communications from the Boston College Wallace E. Carroll Graduate School of Management.

Mr. Troiano has more than 20 years of industry experience. He is a Chartered Property Casualty Underwriter (CPCU) and earned a Bachelor of Science degree in Finance from The College of New Jersey.

About Chubb

Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, 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, Paris and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: www.chubb.com.

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SOURCE Chubb

FAQ

What leadership changes were announced by Chubb on February 8, 2021?

Chubb announced the appointments of Michael Mollica as leader of the Private/Not-For-Profit Management Liability business and Stephen Troiano as leader of U.S. Retail Financial Institutions Management Liability.

Who is Michael Mollica in relation to Chubb's North America Financial Lines division?

Michael Mollica has been appointed Executive Vice President to lead the Private/Not-For-Profit Management Liability business.

What experience do the newly appointed leaders at Chubb have?

Both Michael Mollica and Stephen Troiano have over 20 years of industry experience.

Why are the new appointments at Chubb significant for investors?

The appointments aim to enhance Chubb's management liability solutions, potentially impacting business performance positively.

What is Chubb's focus in its North America Financial Lines division?

Chubb's focus includes providing Directors & Officers Liability, Fiduciary Liability, and other management liability coverage.