ACE Limited announced that it means to designate Juan C. Andrade, as executive VP of the brand-new Chubb Group and President of the International Non-life Insurance coverage division, which includes operations with both retail broker and wholesale market distribution.
The publication said the “consultation will certainly take resultwork upon conclusion of the acquisition of Chubb, which is anticipated in the first quarter of next year.” Andrade presently serves as executive VP of ACE Group, Personal Lines and as COO of ACE Abroad General, the business’s worldwide non-life insurance coverage department in more than 50 nations and territories outside North America.
ACE said that when Andrade assumes his brand-new position he would “have executive operating responsibility for the company’s non-life insurance coverage operations beyond the US, Bermuda and Canada, including industrial Pamp; C, standard and specialty individual lines, and accident and health insurance.”
ACE discussed that its “International Non-Life Insurance coverage division is made upconsisted of two major businesses: one with distribution through retail brokers in 6 areas of the world – Europe, Asia Pacific, China, Japan, Latin America and Eurasia amp; Africa – and the other an excess and surplus lines company with distribution through brokers in the London wholesale market and Lloyd’s.
Andrade’s “scope of responsibility will consist of all products, underwriting, claims, actuarial and support functions connected to these companies. He will also “continue with his present responsibilities, including leading ACE’s international individual lines and small business insurance company, through the close of the deal to guarantee a smooth leadership change and integration for those companies.”
Andrade will report to John Keogh, who is presently Vice Chairman and COO of ACE Group and who will certainly remain to serve in that function for the moms and dad company.
ACE Limited’s Chairman and CEO Evan G. Greenberg noted that throughout his five-year period with ACE, Andrade “has actually assumed enhanced duty and with each step has actually demonstrated impressive leadership. He is an excellent executive with a proven track record of achievement.
Keogh described Andrade as having “a deep understanding of the nuances of each local market – its geography and history, culture, economy and politics,” including that he concerns him as “a real internationalist.”
Prior to signing up with ACE in 2010, Andrade was president and COO of Property amp; Casualty Operations for The Hartford Financial Services Group. He also worked as President of Commercial Markets and Executive Vice President for Sales and Distribution. He joined The Hartford in 2006 as head of the Pamp; C claims organization.
Before joining The Hartford he held senior management positions with The Progressive Corporation, working as general manager of the business Gulf Coast Area and the Southern California, Colorado and Wyoming company systems. He began his insurance career at American International Group (AIG), where he dealt with the companys global property and casualty companies both in the United States and overseas. Andrade received a Bachelor of Science in Journalism and Government from the University of Florida. He holds a Master of Arts degree in International Economics and Latin American Researches from the School of Advanced International Researches at Johns Hopkins University.
Source: ACE Group