Chubb Appoints Mark Hammond Deputy CFO

Rhea-AI Summary

On June 8, 2021, Chubb Limited (NYSE: CB) announced Mark Hammond's appointment as Deputy Chief Financial Officer, effective July 1. Hammond, currently serving as Treasurer, will support incoming CFO Peter Enns following Philip Bancroft's retirement. With over 30 years in insurance and a proven track record in finance, Hammond aims to strengthen Chubb's global finance operations. His extensive experience includes leadership roles in both the U.S. and international finance sectors and a background in public accounting as a CPA.

Positive

• Mark Hammond's extensive experience in insurance and finance may provide valuable strategic insights.
• The leadership transition could bring fresh perspectives to Chubb's financial operations.

Negative

• Peter Enns, the new CFO, may face challenges in continuity due to a leadership change.
• Concerns may arise regarding the experience gap as Hammond takes on a new role.

ZURICH, June 8, 2021 /PRNewswire/ -- Chubb Limited (NYSE: CB) announced today that Mark Hammond, who currently serves as Treasurer of Chubb Group, has been appointed to the additional role of Deputy Chief Financial Officer, a new position.  The appointment is effective July 1 when, as previously announced, Peter Enns, Executive Vice President, Finance, Chubb Group, will succeed Philip Bancroft as Chief Financial Officer upon his retirement.  In his new role, Mr. Hammond will assist Mr. Enns on operational and strategic matters. 

"Mark has been with the company for a dozen years, and is recognized for his technical proficiency, leadership and general management skills in both U.S. and international finance organizations," said Mr. Enns.  "I look forward to working with Mark and benefiting from his experience and assistance as our global finance organization pursues its key priorities and strategies." 

Mr. Hammond has more than 30 years of experience in insurance and public accounting.  He has served as Treasurer since 2019. Previously, he was Executive Vice President and Chief Financial Officer for the company's Europe and Eurasia & Africa regions.  From 2012 to 2016, when the company was named ACE, he was Chief Financial Officer, European Group.  Mr. Hammond joined the company's Combined Insurance business in Chicago in 2009, where he served as Executive Vice President, Chief Financial Officer.  Prior to joining ACE, Mr. Hammond held a series of leadership roles within the insurance industry and, before that, spent more than 15 years in the public accounting sector where he was an audit partner with Deloitte, serving clients in its insurance practice.  Mr. Hammond is a CPA and has an Accounting degree from Kansas State University.

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 Limited

FAQ

What is the significance of Mark Hammond's appointment as Deputy CFO at Chubb?

Mark Hammond's appointment as Deputy CFO is significant as he brings over 30 years of finance experience, which is expected to enhance Chubb's strategic and operational capabilities.

When does Mark Hammond start his role as Deputy Chief Financial Officer at Chubb?

Mark Hammond's new role as Deputy Chief Financial Officer at Chubb starts on July 1, 2021.

Who does Mark Hammond assist in his new role at Chubb?

In his new role, Mark Hammond will assist Peter Enns, who is succeeding Philip Bancroft as Chief Financial Officer.

What experience does Mark Hammond bring to Chubb as Deputy CFO?

Mark Hammond brings over 30 years of experience in the insurance industry and has held various leadership positions in finance, including Treasurer and CFO for Chubb's Europe and Eurasia & Africa regions.