Chubb
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Allstate shares shrink 5.3 percent, while Axis shares lose almost 5 percent of their market value.
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He will lead the large account segment, succeeding Bill Hazelton, who is now head of North America claims.
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The appointment of Scott Gunter as Axa XL CEO has surprised the market.
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The move comes amid a global portfolio review at Allianz’s flagship commercial insurance unit. -
Jarrod Schlesinger said insurers should engage with industry groups on the issue.
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The underwriter was previously head of A&H for France, and replaces Arjen Van Dun.
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The comments came as Chubb shares rose more than 6.3 percent following the release of fourth quarter results.
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The insurer reported operating earnings of $1bn Q4, net of tax, up 11.2 percent from the same period a year earlier.
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The lawsuit over $74mn in losses from a 2013 data breach is closely-watched by the cyber insurance market.
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The carrier has promoted Nadia Côté, Veronique Brionne and Florian Eisele to new roles.
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Wildfires, tornadoes and civil unrest in Hong Kong and Chile contributed to losses.
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The move comes after Chubb’s global head of upstream left in September to join AIG.
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