Warren, N.J.-based Chubb Corp. announced a spate of executive level appointments scheduled to take place in 2011.
Effective Jan. 1, 2011, current EVP and Chief Underwriting Officer Paul Krump will become president of commercial and specialty lines. He will also assume direct responsibility for the company’s accident business.
Dino Robusto, currently EVP and chief administrative officer, will become president of personal lines and claims. Robusto will continue to oversee information technologies, communications, corporate development and innovation.
Both men will report to Chubb Chairman, President and CEO John Finnegan.
The changes are in response to the insurer’s loss of COO John Degnan, who previously announced that he would retire on Dec. 31, 2010 after two decades with the company. However, Degnan has agreed to stay on to provide part-time counsel over the next two years on matters related to claims and representation before government and industry groups.
"John Degnan has had a distinguished and eminently successful 20-year career at Chubb culminating in outstanding performance as COO," Finnegan said in a statement. "I am delighted that we will continue to benefit from his special expertise in these areas. At the same time, we are fortunate to have such an able cadre of next-generation seasoned leaders who have demonstrated their readiness to step in and assume these top leadership posts within Chubb."
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