By a News Reporter-Staff News Editor at Insurance Weekly News -- ACE Limited announced that Paul J. Krump, currently President of Personal Lines and Claims for Chubb, will serve as President, North America Commercial and Personal Lines of the new Chubb Group. The intended appointment will take effect upon ACE's completion of the acquisition of Chubb, which is expected in the first quarter of next year.
Mr. Krump will have executive operating responsibility for the retail commercial property and casualty (P&C) insurance businesses serving the middle market and small commercial customer segments for all products in the United States and Canada through a broad distribution system that includes independent agents and brokers. In addition, the company's personal lines insurance business serving affluent and high net worth (HNW) individuals and families in North America will report to Mr. Krump. Mr. Krump's scope of responsibility will include all P&C products, underwriting, claims, actuarial and support functions related to these businesses, as well as a matrixed responsibility for the field organization personnel responsible for the sales and servicing of the middle market, small commercial and HNW personal lines markets.
As previously announced, Mr. Krump will have senior executive responsibility as head of global claims, and he will report to John Keogh, who is currently Vice Chairman and Chief Operating Officer of ACE Group and who will continue to serve in that role.
"Paul Krump is a veteran, experienced insurance executive and I am pleased he will lead our North American commercial and personal lines businesses. We also wish Dino well with his new responsibilities," said Evan G. Greenberg, Chairman and Chief Executive Officer, ACE Group. "Paul has deep knowledge of all of Chubb's businesses, particularly middle market commercial and personal lines. He is a natural leader and a great underwriter. The appointment of Paul to this senior executive position clearly demonstrates the deep bench of leadership talent within the new Chubb organization. John Keogh and I have great confidence in Paul's abilities and his desire to drive the success of our new North American organization."
Keywords for this news article include: ACE Limited.
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