Appointments to become effective upon completion of ACE’s
acquisition of Chubb
ACE Limited (NYSE: ACE) announced today members of the future
leadership team it intends to appoint for the company’s North
America Personal Risk Services division. The appointments will take
effect upon completion of the acquisition of Chubb, which is
expected in the first quarter of 2016.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20151120006002/en/
Frances D. O'Brien will serve as Senior
Vice President of the new Chubb Group and Division President, North
America Personal Risk Services. (Photo: Business Wire)
North America Personal Risk Services will offer an array of
property and casualty insurance products for individuals and
families with fine homes, automobiles, art, jewelry, watercraft and
other valuable possessions. The division also will provide
customers with state-of-the-art services that will help protect
their property, lifestyle and families from risk and, in the event
of a loss, with exceptional claims services.
As previously announced, Frances D. O’Brien will serve as Senior
Vice President of the new Chubb Group and Division President, North
America Personal Risk Services, and C. Scott Gunter will serve as
Chief Operating Officer, North America Personal Risk Services. Mr.
Gunter will report to Ms. O’Brien. Ms. O’Brien will report to Paul
J. Krump, who, as previously announced, will serve as Executive
Vice President of the new Chubb Group and President, North America
Commercial and Personal Insurance.
Leadership Team Members
The North America Personal Risk Services division will include a
full complement of product, service and distribution managers.
Hope Jarvis will lead Personal Insurance Operations. Ms. Jarvis
is currently Senior Vice President and Global TPA, Compliance &
Strategy Manager for Chubb. In addition to reporting to Ms.
O’Brien, Ms. Jarvis will report to James English, who is currently
Executive Vice President and North America Chief Operations Officer
for ACE and will continue to serve in that role.
The following managers will report to Mr. Gunter:
- Chris Donahue will serve as Chief
Underwriting Officer. Mr. Donahue is currently Chief Underwriting
Officer for ACE Private Risk Services.
- Annmarie Camp will lead Personal
Insurance Sales and Distribution. Ms. Camp is currently Senior Vice
President, National Sales and Distribution Manager for ACE Private
Risk Services.
- James A. Fiske will lead Personal
Insurance Marketing. Mr. Fiske is currently Senior Vice President
and U.S. Marketing Manager for Chubb Personal Insurance. In
addition to reporting to Mr. Gunter, Mr. Fiske will report to Cora
Klena, who is currently Senior Vice President, North America
Marketing & Communications for ACE and will continue to serve
in that role.
- Noel P. Hannon will serve as Personal
Insurance Underwriting Centers Leader. Ms. Hannon is currently
Senior Vice President and U.S. Underwriting Centers Officer for
Chubb Personal Insurance.
- Jennifer M. Naughton will lead Personal
Insurance Risk Consulting Services. Ms. Naughton is currently Vice
President and Loss Control Services New York Regional Manager for
Chubb Commercial Insurance.
“High net worth customers expect the best and most innovative
products and services to protect them and their families from
complex and continuously evolving risks. By assembling some of the
most talented and service-oriented people in the business, we will
provide innovative solutions to our customers, agents and brokers
through world-class products and services,” said Ms. O’Brien.
“Fran and Scott are pulling together a distinguished team of
experts in underwriting, risk consulting, sales and marketing, and
operations management that will enable us to serve our customers
well, support our agent and broker partners and build our combined
business,” said Mr. Krump.
About ACE Group
ACE Group is one of the world’s largest multiline property and
casualty insurers. With operations in 54 countries, ACE provides
commercial and personal property and casualty insurance, personal
accident supplemental health insurance, reinsurance, and life
insurance to a diverse group of clients. ACE Limited, the parent
company of ACE Group, is listed on the New York Stock Exchange
(NYSE: ACE) and is a component of the S&P 500 index. Additional
information can be found at www.acegroup.com.
Cautionary Statement Regarding Forward-Looking
Statements
All forward-looking statements made in this communication,
related to the acquisition of Chubb, potential post-acquisition
performance or otherwise, reflect ACE’s current views with respect
to future events, business transactions and business performance
and are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. In some cases, you can
identify forward-looking statements by words such as “may,” “will,”
“should,” ”expect,” “plan,” “anticipate,” “intend,” “believe,”
“estimate,” “predict,” “potential,” “continue,” “could,” “future,”
“project” or other words of similar meaning. All forward-looking
statements involve risks and uncertainties, which may cause actual
results to differ, possibly materially, from those contained in the
forward-looking statements.
Forward-looking statements include, but are not limited to,
statements about the benefits of the proposed transaction involving
ACE and Chubb, including future financial results; ACE’s and
Chubb’s plans, objectives, expectations and intentions; the
expected timing of completion of the transaction and other
statements that are not historical facts. Important factors that
could cause actual results to differ, possibly materially, from
those indicated by the forward-looking statements include, without
limitation, the following: the inability to complete the
transaction in a timely manner; the failure to satisfy other
conditions to completion of the transaction, including receipt of
required regulatory approvals; the failure of the proposed
transaction to close for any other reason; the possibility that any
of the anticipated benefits of the proposed transaction will not be
realized; the risk that integration of Chubb’s operations with
those of ACE will be materially delayed or will be more costly or
difficult than expected; the challenges of integrating and
retaining key employees; the effect of the announcement of the
transaction on ACE’s, Chubb’s or the combined company’s respective
business relationships, operating results and business generally;
the possibility that the anticipated synergies and cost savings of
the merger will not be realized, or will not be realized within the
expected time period; the possibility that the transaction may be
more expensive to complete than anticipated, including as a result
of unexpected factors or events; diversion of management’s
attention from ongoing business operations and opportunities;
general competitive, economic, political and market conditions and
fluctuations; and actions taken or conditions imposed by the United
States and foreign governments and regulatory authorities. In
addition, you should carefully consider the risks and uncertainties
and other factors that may affect future results of the combined
company described in the section entitled “Risk Factors” in the
joint proxy statement/prospectus dated September 11, 2015, that was
delivered to ACE’s and Chubb’s respective shareholders, and in
ACE’s and Chubb’s respective filings with the Securities and
Exchange Commission (“SEC”) that are available on the SEC’s
website, located at www.sec.gov, including the sections entitled
“Risk Factors” in ACE’s Annual Report on Form 10–K for the year
ended December 31, 2014, which was filed with the SEC on February
27, 2015, and “Risk Factors” in Chubb’s Annual Report on Form 10–K
for the year ended December 31, 2014, which was filed with the SEC
on February 26, 2015. You should not place undue reliance on
forward-looking statements, which speak only as of the date of this
communication. ACE undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151120006002/en/
ACE LimitedInvestors:Helen Wilson,
441-299-9283helen.wilson@acegroup.comorMedia:Jeffrey Zack,
212-827-4444jeffrey.zack@acegroup.com
DBA Chubb (NYSE:CB)
Historical Stock Chart
From Mar 2024 to Apr 2024
DBA Chubb (NYSE:CB)
Historical Stock Chart
From Apr 2023 to Apr 2024