(Bloomberg) -- ChubbLtd., the insurer led by Chief Executive Officer EvanGreenberg, promoted Michael Kessler to chief reinsurance officer asWilliam O’Farrell departs for other opportunities.
|Kessler will oversee the design and purchase of the reinsuranceprograms and report to Chief Operating Officer John Keogh, theZurich-based company said Thursday in a statement that didn’tspecify where O’Farrell is headed. Kessler was previously chiefactuary of Chubb’s international general-insurance business.
|The insurer’s leadership has been shaken up over the past yearafter Greenberg’s firm, Ace Ltd., agreed to buy Chubb Corp. for more than$28 billion, helping it compete against rivals includingAmerican International Group Inc. and Berkshire Hathaway Inc. Chubbhas promoted some executives as the companies integrate.
|“Mike is an experienced actuarial executive with a long tenureat Ace and Chubb,” Keogh said in the statement. “He has impressivetechnical capabilities and experience, both U.S. and internationalactuarial experience, and deep first-hand insight into ourbusinesses around the globe.”
|About Kessler
Kessler has 25 years of experience in insurance and actuarialconsulting. Since 2008, prior to ACE's January 2016acquisitionof Chubb, he has served as Chief Actuary for the company'sinternational general insurance business.
Kessler joined ACE in 2003 as Senior Vice President and ChiefActuary for the specialty group of ACE Westchester, the company'scommercial property and casualty excess and surplus linesbusiness.
|For the previous decade, he held senior manager and consultingactuary positions at Ernst & Young LLP andPricewaterhouseCoopers LLP. He began his career at Aetna Life andCasualty.
|Kessler holds a B.A. in Mathematics from Cornell University. Heis a Member of the American Academy of Actuaries, a Fellow of theCasualty Actuarial Society and holds the Chartered FinancialAnalyst designation.
|Related: Chubb CEO says luck is all some rivals have withpolitical risks
|Copyright 2018 Bloomberg. All rightsreserved. This material may not be published, broadcast, rewritten,or redistributed.
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