Chubb Names Paul McNamee Executive Vice President, Chubb Group and President of Overseas General Insurance; Marcos Gunn to Lead Company's Asia Pacific Region; Federico Spagnoli to Lead Latin America Region

Rhea-AI Summary

Chubb (NYSE: CB) has announced significant executive appointments. Paul McNamee has been named Executive Vice President, Chubb Group and President of Overseas General Insurance, overseeing 51 countries outside North America. He succeeds Juan Luis Ortega, now President of North America Insurance operations. McNamee, previously Regional President of Asia Pacific, will be based in New York and report to the CEO and COO. Marcos Gunn, previously Regional President of Latin America, will succeed McNamee in the Asia Pacific region, relocating to Singapore. Federico Spagnoli, currently Division President, Consumer Lines, will lead the Latin America region, succeeding Gunn. These changes are effective immediately. McNamee brings nearly 30 years of industry experience, Gunn over 25 years, and Spagnoli over 20 years. Chubb sees these appointments as strategic moves to leverage their experienced leadership for global growth.

Positive

• Paul McNamee appointed as Executive Vice President, Chubb Group and President of Overseas General Insurance.
• McNamee brings nearly 30 years of insurance industry experience.
• Marcos Gunn to head the Asia Pacific region, leveraging over 25 years of experience.
• Federico Spagnoli to lead the Latin America region, with over 20 years of industry experience.

Negative

• None.

ZURICH, July 9, 2024 /PRNewswire/ -- Chubb Limited (NYSE: CB) today announced that it has appointed Paul McNamee Executive Vice President, Chubb Group and President, Overseas General Insurance, based out of New York. McNamee will have executive operating responsibility for Chubb's general insurance business in 51 countries outside of North America.

McNamee, who is currently Senior Vice President, Chubb Group and Regional President of Asia Pacific, will report to Evan G. Greenberg, Chairman and Chief Executive Officer, and John Keogh, President and Chief Operating Officer. McNamee succeeds Juan Luis Ortega, who was named President of the company's North America Insurance operations.

Marcos Gunn, Senior Vice President, Chubb Group and Regional President of Latin America will succeed McNamee as head of the company's Asia Pacific region. He will relocate from Miami to Singapore. Federico Spagnoli, Division President, Consumer Lines, Overseas General Insurance, will retain his current responsibilities and assume the leadership of the company's Latin America region succeeding Gunn. Both Gunn and Spagnoli will report to McNamee.

All of the appointments are effective immediately.

"It is a pleasure to appoint Paul to lead our international general insurance operations," said Greenberg. "I have worked closely with Paul for many years and watched him grow into a great executive. He is a tremendous underwriter and business leader. Through his years of experience, he has acquired a great ability to manage a wide variety of commercial and consumer businesses across countries and cultures. He finds a way to win."

"Marcos is an outstanding executive with a long track record of success with our company. He is returning to Asia with deep knowledge and significant experience in the region. Marcos is one of the most creative and entrepreneurial insurance executives I know. He combines a deep knowledge of underwriting, marketing and technology. I have such confidence in both Paul and Marcos.

"While new to the Chubb family, Federico has quickly established himself as a serious and driven executive, and I am sure he and our talented leadership team in Latin America will continue to distinguish themselves."

"Paul is a proven insurance executive and a true internationalist," said Keogh. "He has proven himself in multiple regions of the world, including Asia Pacific, Europe and North America. This is an exceptional opportunity for Paul to now profitably grow our entire international general insurance franchise. I also want to congratulate Marcos and Federico on their new assignments. Together, these executives represent our company's deep bench strength, and I want to extend to all of them my best wishes for their continued success."

Paul McNamee has nearly 30 years of insurance industry experience. He was appointed Senior Vice President, Chubb Group and Regional President, Asia Pacific in 2016. He served as Deputy Regional President and Executive Vice President, Commercial Property & Casualty, Asia Pacific from 2013-2016. Previously, McNamee was President of the company's North America Property & Specialty Lines from 2009-2013. He joined Chubb (ACE) in 1995 in Australia and was named Head of Property and Technical Lines for Asia Pacific in 2002. McNamee served as Chief Operating Officer for the company's business in Hong Kong before being posted to London in 2005 as Executive Vice President and head of the company's International Property & Technical Lines business. McNamee entered the industry in 1995, joining Cigna Corporation's International operations in Australia, which were subsequently acquired by ACE.

Marcos Gunn has more than 25 years of insurance industry experience. He was appointed Senior Vice President, Chubb Group and Regional President, Latin America in 2019. Previously, he served as President, Northern Latin America Region, and Chief Operating Officer for the company's Latin America operations. Gunn joined Chubb in 2000 and has served in a variety of management roles, including Country President of Chile; Regional Vice President of A&H, Latin America; and Regional Vice President of A&H, Asia Pacific. Earlier in his career, he served as a commercial insurance underwriter at Chubb in Argentina, as well as underwriting and management positions at other insurance companies. Gunn holds a degree in Business Administration from the Catholic University of Buenos Aires.

Federico Spagnoli has more than 20 years of insurance industry experience. He joined Chubb in January 2024 as Division President, Consumer Lines, Overseas General Insurance. Previously, Spagnoli was Chief Executive Officer of Fully Ecosystem, a wellness fintech venture of Prudential Financial, and before that was Regional President, Latin America for Prudential Financial. Over nearly 13 years at AIG, Spagnoli served as Regional Consumer CEO for EMEA and India, Regional Consumer Lines Head for Latin America, and Personal Lines Regional Vice President for Latin America, and he held A&H and personal lines leadership roles in Japan and South Korea. Spagnoli holds a degree in Law from Universidad del Salvador, an MBA degree in Management and Finance from Washington University in St. Louis, and a Postgraduate Diploma in Strategy and Innovation from the University of Oxford. He also holds the Chartered Property Casualty Underwriting (CPCU) designation.

About Chubb

Chubb is a world leader in insurance. 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 40,000 people worldwide. Additional information can be found at: www.chubb.com.

 

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SOURCE Chubb Limited

FAQ

Who is the new Executive Vice President of Chubb Group?

Paul McNamee has been named Executive Vice President of Chubb Group and President of Overseas General Insurance.

What is Paul McNamee's new role at Chubb?

Paul McNamee's new role is Executive Vice President of Chubb Group and President of Overseas General Insurance.

Who will lead Chubb's Asia Pacific region?

Marcos Gunn will lead Chubb's Asia Pacific region.

Who is the new head of Chubb's Latin America region?

Federico Spagnoli is the new head of Chubb's Latin America region.

Where will Paul McNamee be based in his new role?

Paul McNamee will be based in New York in his new role.

When are the new appointments at Chubb effective?

The new appointments at Chubb are effective immediately as of July 9, 2024.