Chubb

Prior to his new role, which Matt Prevost began this month, the exec spent nearly 10 years as Chubb’s SVP, cyber and product line manager.

The newly created role will see Frederico Spagnoli oversee Chubb’s consumer lines in 51 countries.

Broker and commercial carrier trends separate as inflation slows but rates stay elevated.

Michelle Bryer had been serving as senior vice president of claims operations at Combined, a Chubb subsidiary.

Clearer wordings for cyber cat risk would also help foster the development of the more capital-efficient event XoL reinsurance market in cyber, Kessler said.

At a point when cyber rates are falling and capacity is plentiful in high excess layers, the mutual plans have the wider cyber market somewhat perplexed.

A clear commonality is already emerging much as it did in the previous quarter, when severe convective storms – particularly hail – also dominated.

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Chubb NA property soared 23% in Q3 with rates up 16.6% and exposure change of 5.5%, as casualty pricing rose 11%, with rates up 8.7% and exposure up 2%.

The executive said that NA financial lines rates and pricing in aggregate were down 4.8% and 3.8%, respectively, in Q3 as Chubb is trending financial lines loss costs at 4.7%.

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The carrier grew NWP in Q3 by 8.4% to roughly $11.7bn, as NA commercial P&C lines rose 8.7% to over $5.1bn and personal lines increased 9.6% year-on-year to over $1.5bn.