ZURICH, Oct. 24, 2018 /PRNewswire/ -- Chubb Limited (NYSE: CB) announced today that Joe Vasquez has been named Senior Vice President, Chubb Group and head of the company's global accident and health insurance business. He currently serves as President of ESIS, Inc., the company's third party risk management and claims services affiliate. In his new role, Mr. Vasquez will be responsible for Chubb's $4 billion personal accident and supplemental health insurance business around the world, including the operations of Combined Insurance. The appointment is effective immediately.
Ed Clancy, Executive Vice President, Chubb Group, Global Accident & Health and Life, and a longtime company executive who has led the A&H business since 1999, will retire from the company in March 2019. Mr. Clancy will work closely with Mr. Vasquez on the leadership transition of the business until that time.
Mr. Vasquez will report to Evan G. Greenberg, Chairman and CEO, and John Keogh, Executive Vice Chairman & Chief Operating Officer.
"Ed and I have known and worked closely with each other for much of our over four decades in the insurance industry," said Mr. Greenberg. "Long before Ed joined ACE nearly 20 years ago, we worked together in the U.S. A&H operations of AIG where we developed and honed some of our earliest insurance experience. As Ed's boss, I sent him on his first overseas assignment that launched a long and successful career building A&H and life insurance businesses around the globe. At ACE, Ed became a foundational executive for the company, providing leadership and business acumen to build and grow our A&H business into a global leader that is a cornerstone of the company today. One of the first members of our executive committee, Ed is a trusted colleague and friend who has made invaluable contributions to the growth and success of our company. We wish him and his wife Sally much happiness in his retirement."
"One of Ed's many accomplishments in his career with us is the strong, highly capable team that he built around him, and so he is leaving our A&H business in exceptionally talented hands," continued Mr. Greenberg. "I have known and worked with Joe personally for 20 years and watched him grow his technical and business expertise and leadership as a career A&H executive. I have every confidence that Joe has the experience, drive and management skill to lead the next generation of growth in our A&H business globally."
"With this appointment, Joe, who has been leading the growth of ESIS for three years, will return to the A&H business that he knows so well," said Mr. Keogh. "He is a proven insurance executive with deep experience in all aspects of the business, including underwriting, claims, product development, distribution and marketing. Joe joined the company in 2000 and led our A&H division in North America for 15 years. We're pleased that Joe will be deploying his energy, skills and experience to pursue the tremendous growth potential our personal accident and supplemental health insurance business has around the world."
Effective with this announcement, Russell G. Bundschuh, currently Senior Vice President, Chubb Group and President, Chubb Life, will assume total executive responsibility for the company's international life insurance and life reinsurance businesses and now report to Mr. Greenberg.
Mr. Vasquez has more than 27 years of A&H insurance industry experience. He joined ACE in 2000 to create and lead the company's U.S. Accident & Health business. In 2015, Mr. Vasquez was named President of ESIS, an affiliate of ACE and one of the industry's oldest and largest risk management claims services companies. Prior to joining ACE, Mr. Vasquez served in a senior leadership role in the national Accident & Health Division of Reliance National Insurance Company in New York City from 1991 to 2000. Previously, he held senior A&H underwriting positions with the American International Group (AIG). Mr. Vasquez received his Bachelor of Arts degree in English Literature from St. Peter's University located in Jersey City, New Jersey.
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 and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: www.chubb.com.
SOURCE Chubb Limited