Chubb
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The carrier booked $250mn of pre-tax losses for Hurricane Helene. -
He succeeds Laura Vest, who is retiring after 20 years with the company.
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Mark Gregory will retire next March, while Sara Mitchell will initially join as a strategic adviser.
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The executive has 20 years of experience in environmental risk and sustainability.
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The carrier writes all of its E&S business in the state through Arch Specialty Insurance Company.
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The executive joined Chubb in 2013 as assistant VP and regional manager.
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The conglomerate now owns around 27 million Chubb shares valued at roughly $6.9bn, compared to nearly 26 million in Q1.
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The industry could weather a recession, unless loss costs and reserving pressures worsen.
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The carrier recognized a goodwill of $256mn and intangible assets of $39mn from the transaction.
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A quick roundup of today’s need-to-know news, including Chubb’s Q2 earnings call.
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NA casualty pricing was up 11.7%, with rates increasing 9.9% and exposure up 1.6%.
