Chubb has appointed Michael Kessler as division president of the company's global cyber risk insurance business and Jeremiah Konz as chief reinsurance officer.
Kessler will oversee strategy, product and business development, underwriting and service operations, and overall profit and loss performance, which will continue to report into the company's North America and international cyber risk divisions.
He will report to Paul Krump, vice chairman, Chubb Group, Global Underwriting and Claims.
With more than 30 years of experience in insurance and actuarial consulting, Kessler previously served as chief actuary for Chubb’s international general insurance business, a position he held from 2008.
Kessler joined Chubb, formerly ACE, in 2003 as senior vice president and chief actuary for Westchester.
Konz will succeed Kessler as chief reinsurance officer.
In his new role, Konz will have management responsibility for the design and purchase of reinsurance programmes for Chubb and its business units globally, managing the company's reinsurance recoverable assets and overseeing relationships with its reinsurers and reinsurance brokers.
Konz, who has more than 20 years of insurance industry experience, joined Chubb in 2012 as senior vice president, ceded reinsurance for Chubb's North American operations.
In 2018, he was appointed reinsurance officer for Chubb overseas general. Prior to Chubb, Konz worked as an executive for reinsurance brokerage firm Aon Benfield, providing analytic expertise to large commercial property reinsurance placements.
Konz will report to John Keogh, resident and chief operating officer of Chubb.
Commenting on Kessler’s promotion, Krump notes: "Michael Kessler's extensive experience and history with our company, his leadership of our global reinsurance function and his technical skills and actuarial background make him a highly capable executive to lead our global cyber practice.”
He adds: "I have every confidence in Mike Kessler's ability to lead this critically important global business for Chubb."
Keogh states: "Reinsurance plays a critical role in how we manage risk, and we are pleased to welcome Jeremiah Konz to this important leadership role for our company.”
“Konz brings strong analytical and technical skills, and a deep understanding of insurance and reinsurance markets globally. Over nearly a decade at Chubb, he has held important reinsurance roles in both our US and international businesses. I am confident that Konz will be a strong partner to our company's insurance businesses while helping us to further develop, implement and manage our reinsurance strategy," he concludes.
