Chubb Limited Announces Key Leadership Changes in Surety Business
Chubb Limited (NYSE: CB) has announced significant leadership changes within its Surety business segment. Steve Haney, formerly Vice President and Division President of North America Surety and Chief Underwriting Officer (CUO) of Global Surety, has been promoted to President and CUO of Global Surety. In this elevated role, Haney will oversee the global strategy, underwriting activities, and profit and loss (P&L) performance of Chubb's Global Surety business. He will report to senior executives Juan Luis Ortega, Executive Vice President and President of North America Insurance, and Paul McNamee, Executive Vice President and President of Overseas General Insurance.
Teresa Black has been promoted from Executive Vice President and Chief Operating Officer of North America Surety to Division President of North America Surety. Black will have executive oversight and P&L responsibility for North American Surety operations. She will report to Steve Haney and Scott Meyer, Senior Vice President and Chief Operating Officer of North America Insurance.
Steve Haney brings nearly three decades of underwriting expertise spanning roles with ACE's Surety business (now part of Chubb) and progressive positions within Chubb since 1997. His deep knowledge in underwriting and product development situates him to lead and expand Chubb's global Surety capabilities effectively.
Teresa Black carries 28 years of comprehensive insurance sector experience with Chubb, including leadership in distribution management, financial lines, and regional operations. Her multifaceted expertise builds on a decade of leadership in the Surety segment, enhancing her capacity to drive business growth and operational efficiency in North America.
These leadership transitions reflect Chubb's commitment to strengthening its Surety business lines amid a competitive and evolving insurance market. The appointments align with strategic objectives to leverage seasoned underwriting professionals to enhance client value, innovate underwriting solutions, and accelerate profitable growth globally and regionally.
Chubb is a leading global insurer with operations in 54 countries, offering a wide array of commercial and personal property & casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance products. The company's extensive product portfolio, financial strength, and expansive distribution network underscore its competitive position in the industry.
By placing experienced leaders like Haney and Black in critical Surety roles, Chubb is positioning itself to navigate market challenges, adapt to changing risk environments, and capitalize on growth opportunities in the surety insurance sector.
For insurance professionals, these leadership updates signal a continued emphasis on underwriting excellence and operational leadership within Chubb’s Surety franchises. The focus on global and regional profitability and underwriting innovation will be key areas to watch in Chubb’s future strategic developments.