ZURICH, Jan. 12, 2021 /PRNewswire/ -- Chubb today announced that Michael Kessler has been appointed Division President of the company's global cyber risk insurance business. Currently Vice President, Chubb Group and Chief Reinsurance Officer, Mr. Kessler in his new role will oversee all facets of the business including strategy, product and business development, underwriting and service operations, and overall profit and loss performance, which will continue to report into the company's North America and international cyber risk divisions.
Mr. Kessler will report to Paul Krump, Vice Chairman, Chubb Group, Global Underwriting and Claims to ensure global consistency of product design, enterprise risk management and risk tolerance, underwriting tools and loss mitigation services and protocols. The appointment is effective immediately.
"Mike's extensive experience and history with our company, his leadership of our global reinsurance function and his technical skills and actuarial background make him a highly capable executive to lead our global cyber practice," said Mr. Krump. "Chubb's industry-leading risk transfer, loss mitigation and incident response services for the rapidly evolving cyber risk threats faced by businesses of all sizes and individuals are more important than ever. I have every confidence in Mike's ability to lead this critically important global business for Chubb."
William Wise, Senior Vice President of Chubb's North America Professional Liability and Cyber practice, will report jointly to Mr. Kessler and Steven Goldman, Division President, Financial Lines, North America Insurance. Kyle Bryant, Senior Vice President, Cyber Product Manager and Technology Practice Lead for Chubb's international general insurance business, will report jointly to Mr. Kessler and Tim Stapleton, Executive Vice President, Financial Lines, Overseas General Insurance.
Mr. Kessler has nearly 30 years of experience in insurance and actuarial consulting. In 2016 he was named Vice President, Chubb Group, a title he continues to hold, and Chief Reinsurance Officer. Previously, he served as Chief Actuary for the company's international general insurance business, a position he held from 2008. Mr. Kessler joined the company, then named ACE, in 2003 as Senior Vice President and Chief Actuary for Westchester, the company's U.S. commercial property and casualty excess and surplus lines business. For the previous decade, he held senior manager and consulting actuary positions at Ernst & Young LLP and PricewaterhouseCoopers LLP.
Mr. Kessler holds a Bachelor of Arts degree in Mathematics from Cornell University. He is a Member of the American Academy of Actuaries and a Fellow of the Casualty Actuarial Society.
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, Paris and other locations, and employs approximately 33,000 people worldwide. Additional information can be found at: www.chubb.com.
SOURCE Chubb Limited