Chubb Appoints Tim Stapleton to Lead Financial Lines for Company's International General Insurance Business

Rhea-AI Summary

Chubb announced the appointment of Tim Stapleton as Executive Vice President for Financial Lines, Overseas General Insurance, effective immediately. He will oversee management and professional liability lines, including directors and officers coverages, errors and omissions, and cyber products across 51 countries. Stapleton has over 15 years of experience, previously serving as Senior Vice President in the same division. He succeeds Steven Goldman, who has transitioned to Vice President of Chubb Group. These leadership changes aim to enhance Chubb's international financial lines capabilities.

Positive

• Appointment of Tim Stapleton expected to strengthen leadership in financial lines.
• Tim Stapleton brings over 15 years of relevant experience, enhancing operational oversight.

Negative

• Change in leadership could raise concerns about continuity in strategy.

NEW YORK, July 21, 2020 /PRNewswire/ -- Chubb announced today that Tim Stapleton has been named Executive Vice President, Financial Lines, Overseas General Insurance, the company's international general insurance business in 51 countries. In his new role, Mr. Stapleton will have executive oversight of Chubb's management and professional liability lines of business, which span public, private, not-for-profit and financial institution directors and officers coverages, as well as its errors and omissions and cyber products. His responsibilities will include oversight of the division's strategy, product and business development, underwriting operations, and profit and loss performance. 

Mr. Stapleton is currently Senior Vice President, Cyber Insurance and Information Technology, Overseas General Insurance. In his new role, he succeeds Steven Goldman who, in a related announcement today, has been named Vice President, Chubb Group and Division President, North America Financial Lines. Mr. Stapleton will report to Timothy O'Donnell, Vice President, Chubb Group and Division President, Commercial Property and Casualty, Overseas General Insurance. The appointment is effective immediately.

"Tim is a highly experienced financial lines executive with excellent technical underwriting and leadership skills," said Mr. O'Donnell. "I'm looking forward to working with him as we grow Chubb's international financial lines presence and capability."

"Chubb has earned a reputation as a leader in financial lines underwriting globally with a deep pool of talented executives across the world," said Juan Luis Ortega, Executive Vice President, Chubb Group and President, Overseas General Insurance. "That is evident today as Tim assumes this leadership role. I am confident his deep understanding of our clients' needs will help ensure the future profitable growth of this practice."

Mr. Stapleton has more than 15 years of underwriting and management experience in financial lines. He joined the company in 2015 from Zurich Insurance Group, where he served as Global Underwriting Manager for Professional and Management Liability, responsible for the development, implementation and maintenance of global technical underwriting standards, product strategies and guidelines for the company's professional and management liability and cyber sublines. Prior to that, Mr. Stapleton served as Zurich's Deputy Global Head of Professional Liability, where he developed and implemented technical underwriting standards for the company's global professional liability portfolio. He began his career at American International Group as an underwriter for professional liability.

Mr. Stapleton holds a bachelor's degree in music from the University of Miami, Coral Gables.  He is a member of the International Association of Privacy Professionals (IAPP) and holds the Certified Information Privacy Professional/US designation. Mr. Stapleton is also a member of the Professional Liability Underwriting Society.

About Chubb
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. 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 33,000 people worldwide. Additional information can be found at: www.chubb.com

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SOURCE Chubb

FAQ

Who is Tim Stapleton and what is his new role at Chubb?

Tim Stapleton has been appointed Executive Vice President of Financial Lines, overseeing management and professional liability lines in Chubb's international operations.

What experience does Tim Stapleton bring to his new position?

Tim Stapleton has over 15 years of experience in underwriting and management in financial lines, previously serving as Senior Vice President of Cyber Insurance at Chubb.

Who did Tim Stapleton succeed in his new role?

Tim Stapleton succeeds Steven Goldman, who has been named Vice President of Chubb Group and Division President of North America Financial Lines.

What are the implications of this leadership change for Chubb (CB)?

The leadership change under Stapleton's guidance may enhance Chubb's financial lines strategy and operational capabilities in international markets.