Chubb Appoints Natalie Chiaramonte President of Sovereign Risk Insurance Limited
Chubb has appointed Natalie Chiaramonte as Division President of Sovereign Risk Insurance Limited, effective immediately. She advances from her roles as Senior Vice President and Chief Operating Officer, taking over from Price Lowenstein, who is retiring after 25 years. Chiaramonte brings over 25 years of industry experience and will lead Sovereign in providing political risk and sovereign credit insurance. Under her leadership, Chubb aims to reinforce its market position as Sovereign celebrates its 25th anniversary.
- Natalie Chiaramonte's extensive experience in insurance and banking (25+ years) enhances leadership at Sovereign.
- Chiaramonte's promotion reflects Chubb's commitment to continuity and experienced leadership in a specialized market.
- Price Lowenstein's retirement raises potential concerns over continuity and experience in executive leadership.
HAMILTON, Bermuda, July 11, 2022 /PRNewswire/ -- Chubb announced today that Natalie Chiaramonte has been named Division President of Sovereign Risk Insurance Limited, a Chubb company and leading underwriter of political risk insurance and reinsurance.
Prior to this role, Ms. Chiaramonte served as Senior Vice President and Chief Operating Officer of Sovereign. In her new role, Ms. Chiaramonte will have executive operating responsibility for the company, which provides political risk and sovereign credit insurance to commercial and investment banks, exporters, multinational corporations, export credit agencies, multilateral agencies and private equity investors. She will report to John Lupica, Vice Chairman, Chubb Group and President of North America Insurance, and Judy Gonsalves, Division President, Chubb Bermuda. The appointment is effective immediately.
"Natalie is an insightful and professional political risk underwriter with strong knowledge and following in the marketplace among brokers, clients and partners," said Evan G. Greenberg, Chairman and Chief Executive Officer of Chubb. "As Sovereign celebrates its 25th anniversary, I am confident that with Natalie's leadership we will continue to strengthen our market position in this highly specialized field."
Ms. Chiaramonte succeeds Price Lowenstein, who is planning to retire from the company. Mr. Lowenstein, who has led Sovereign since he helped create the company in 1997, will assist with the transition in an advisory capacity through the end of 2022.
"Price was instrumental in the formation of Sovereign and, in fact, was the business's very first employee," said Mr. Lupica. "I want to thank him for his 25 years of service and for building Sovereign into the company it is today. On behalf of Chubb, we wish Price the very best during his retirement."
Ms. Chiaramonte has more than 25 years of experience in insurance and banking. She joined Sovereign in 2001 as a research analyst and transitioned to underwriting. She was named Senior Vice President in 2015 and Chief Operating Officer in 2020. Prior to joining Sovereign, she was an assistant vice president with Bank of Bermuda (now part of HSBC), where she worked in Bermuda, Luxembourg and New York. She holds a B.A. degree from Brown University.
About Sovereign, a Chubb Company
Sovereign Risk Insurance provides political risk and sovereign credit insurance to commercial and investment banks, exporters, multinational corporations, export credit agencies, multilateral agencies and private equity investors.
Sovereign has underwritten more than 2,000 policies and has a global portfolio that is spread over more than 100 emerging and frontier markets. Sovereign is widely recognized within the international insurance, private equity and export/project finance communities as a sophisticated and reliable risk-sharing partner. Sovereign is also a member of the Berne Union, the worldwide organization of national export credit and investment insurance agencies.
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 34,000 people worldwide. Additional information can be found at: www.chubb.com
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SOURCE Chubb Bermuda
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