Global insurance giant Chubb has promoted one of its international executives into the role of vice president and chief reinsurance officer.
Michael Kessler, the current chief actuary of Chubb Overseas General, will take up his new job on August 1 to replace William O'Farrell, who is leaving the company after holding the post for more than 10 years.
In his new role, Kessler will have management responsibility for the design and purchase of reinsurance programs for Chubb and its business units globally.
He will also manage Chubb’s reinsurance recoverable asset and oversee relationships with its reinsurers and reinsurance brokers.
Kessler will likewise serve as chairman of Chubb's reinsurance security committee and as a member of its global credit committee.
He will report to Chubb COO and executive vice chairman John Keogh, who praised Kessler for his “impressive technical capabilities and experience.”
“He is also a proven partner to our company's insurance businesses and has actively supported our business unit leadership on the analysis of their reinsurance needs and reinsurance purchasing decisions,” Keogh said.
A 25-year industry veteran, Kessler has been the chief actuary of Chubb’s international general insurance business since 2008.
In 2003, he joined ACE
as senior vice president and chief actuary for the specialty group of ACE
Westchester, the company's commercial property and casualty excess and surplus lines business.
Kessler began his career at Aetna Life and Casualty and later held senior managing and consulting actuary positions at Ernst & Young and PWC.
Chubb’s profits fall
Chubb could be on hook for £161 million losses from acquisition