Accident and Health
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The unit – which will serve both large healthcare providers and smaller clinics and private practices – will work alongside carriers including CNA and Chubb. -
Stephen Hitch, senior vice president of underwriting at Xchange Benefits, will lead the new MGU.
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Corbett had been with Axa XL since 2016, most recently serving as CUO for life and A&H.
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The transaction will near-double the size of Chubb’s A&H book and increase its Asia premium from $4bn to $7bn.
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Steve Paraboschi succeeds current CEO Brian Barwick who is staying on in the role of executive advisor.
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The report showed the impact of the pandemic on A&H and documented a drop in claims for neoplasms.
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Arch Insurance has named Jim Villa as a senior vice president of strategy and distribution at the carrier’s accident and health (A&H) business unit.
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Pressure is growing from Lloyd’s underwriters on A&H coverholders, which often attract high commissions.
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Nicole Bennett was previously chief of staff at the insurance group.
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This week the team looks at the final throes of lawsuit activity connected to Irma claims and new entries into the A&H sector.
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At least one insurer, Chubb, has paused quoting casualty cover for new healthcare clients.
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The acquisition follows a $400mn debt issue from Beach parent Acrisure last year to finance M&A.
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