Chubb Appoints Michael Mollica Division President for North America Financial Lines
Chubb has appointed Michael Mollica as the new Division President for its North America Financial Lines business. Previously the Executive Vice President overseeing Private/Not-For-Profit sectors, Mollica will now manage various liability lines, including D&O coverages and cyber products. His experience spans over 20 years in insurance, with notable leadership roles at Chubb since 2008. The appointment, effective immediately, comes as he succeeds Steve Goldman who has departed from the company. The decision signals a strategic move to bolster Chubb's position in the financial lines market.
- Michael Mollica's extensive experience (over two decades) in the insurance sector enhances leadership stability.
- Mollica has a strong technical background, potentially improving product development and business strategies.
- The departure of Steve Goldman raises concerns about continuity in leadership.
WHITEHOUSE STATION, N.J., Dec. 5, 2022 /PRNewswire/ -- Chubb has named Michael Mollica Division President for the company's North America Financial Lines businesses. Currently, Mollica is Executive Vice President, Head of Private/Not-For-Profit business for the division. In his new role, he will have executive oversight of Chubb's management and professional liability lines of business, which span public, private, not-for-profit, and financial institutions directors and officers coverages, transactional risk, as well as its errors and omissions and cyber products. In addition, he will have responsibility for the division's strategy, product and business development, underwriting operations and profit and loss performance.
Mollica will report to John Lupica, Vice Chairman, Chubb Group and President, North America Insurance. The appointment is effective immediately.
"Mike has been a proven leader in our Financial Lines division since he joined Chubb nearly 15 years ago," said Lupica. "He is an experienced executive with strong technical underwriter skills and deep insight into the financial lines market and our customers' and distribution partners' needs. I am pleased to welcome Mike to this role, where he will manage an industry-leading team with deep bench strength. He is well positioned to further grow and develop Chubb's Financial Lines business."
Based in New York, Mollica has over two decades of insurance industry experience. Since joining Chubb in 2008, he has held a variety of leadership positions in underwriting in the Financial Lines space. In addition to leading the Private/Not-For-Profit Management Liability business, he also served as head of the Financial Institutions business line. Mollica holds a Bachelor of Science degree in Marketing and Communications from the Boston College Wallace E. Carroll Graduate School of Management.
Mollica succeeds Steve Goldman, who has left the company. "We thank Steve for his years of service and contributions to Chubb," said Lupica.
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 34,000 people worldwide. Additional information can be found at: www.chubb.com
Chubb Insurance Company of Canada has offices in Toronto, Calgary, Montreal and Vancouver and provides its products and services through licensed insurance brokers across Canada. For additional information, visit: chubb.com/ca.
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SOURCE Chubb
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