The two executives immediately assume their new roles, and will report to John DePeters, Executive Vice President, Head of Commercial Insurance & Specialty, COG.

McGregor and Forman will be responsible for driving the performance and growth of COG’s middle market capabilities, including refining segment-specific underwriting strategies for the commercial property and casualty portfolio.

Furthermore, they will work alongside Industry Practice leadership to expand the division’s offerings by leveraging advanced analytics and new technology.

“These appointments underscore the strength of our leadership talent and our ongoing commitment to invest in a world class commercial insurance platform with strong underwriting discipline and focused growth,” said DePeters. “Ben and Alex each bring deep technical expertise to their roles, and together they will be instrumental in scaling our capabilities.”

McGregor has more than 30 years of experience in the insurance sector, including 23 years with Chubb. During his tenure at Chubb, he has been responsible for leading and developing property portfolios across Australia, New Zealand, and Asia.

Most recently, he served as Head of Property and Terrorism for the United Kingdom and Ireland regions. He is a fellow of the Australian and New Zealand Institute of Insurance and Finance.

Forman has more than two decades of insurance industry experience. Prior to joining Chubb in 2020, he led teams at AIG and Swiss Re Corporate Solutions, where he served as Head of UK Retail Underwriting.

In his most recent role at Chubb, he oversaw the profitability and strategic growth of the UK, Ireland & South Africa casualty portfolio.

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The DFC and the U.S. Treasury unveiled the plan to deploy maritime reinsurance, including war risk, in the Gulf region, on March 9th. A few days later, Chubb was confirmed as the lead underwriter of the facility, which will insure losses up to approximately $20 billion on a rolling basis.

Today, the large US insurer has outlined the structure of the facility, confirming that it will provide war marine risk insurance for hull and liability, as well as cargo, with coverage to be offered for war hull risk insurance, war P&I insurance, and war cargo insurance.

Chubb states that the offering will apply to vessels that meet eligibility criteria provided by the U.S. Government, and that the insurance coverage will only be available to ships passing through the Strait of Hormuz under certain conditions. It’s currently unclear what these conditions are.

As the lead underwriter, Chubb will manage the facility, set pricing and terms, assume risk, issue policies for eligible vessels and cargo, and will also manage all claims.

Chubb underlines the important role of commercial shipping in the global economy, emphasising that the creation of this facility will help to “restore market confidence and facilitate the world’s critically important energy and commercial trade.”

The Gulf Maritime Insurance Facility is a public-private partnership between DFC, Chubb, and other American insurance companies who will serve as reinsurers. These additional insurers will be disclosed in the coming days, but Chubb says that they bring deep underwriting experience in marine and marine war coverage.

Lastly, Chubb confirms that the DFC will help coordinate the consortium of American reinsurers and set certain criteria for ships accessing the programme.

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According to the executive, pricing remains stronger in certain classes and markets, notably U.S. casualty, while weakening in others, such as large-account and upper middle-market property across both admitted and excess and surplus lines, where conditions have now softened.

“While the market as a whole is transitioning toward a soft part of the cycle, our company is in a good position to grow given our diversification, though obviously not as fast as we did during the hard market,” Greenberg observed.

He continued, “In all, a significant majority of our businesses are less or not exposed to the pricing cycle and present good growth opportunities – some faster, some slower. There is a lot of opportunity in front of us.”

According to the CEO, Chubb has navigated numerous hard and soft market cycles over the years, with underwriting discipline remaining a defining hallmark of the company.

“We shrink whole businesses when necessary to preserve an underwriting profit. On the other hand, we take on exposure aggressively when we observe opportunities to earn an adequate return,” Greenberg explained.

The executive continued, “Many insurers profess discipline, which is easy to say in a hard market, but few mean it. Most are hungry now for growth and are unwilling to trade market share, even when an adequate return can’t be achieved.”

In its full-year 2025 results, Chubb reported record P&C underwriting income of $6.53 billion, an 11.6% increase over 2024, alongside a record-low combined ratio of 85.7%.

Greenberg hailed 2025 as a great year, highlighting strong contributions across the firm’s operations.

More recently, the U.S. International Development Finance Corporation (DFC) revealed that Chubb will serve as the lead partner for its $20 billion Maritime Reinsurance Plan, aimed at restoring commercial shipping in the Gulf and helping to restart energy and trade flows through the Strait of Hormuz.

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DFC’s reinsurance facility, announced earlier this week, will insure losses up to approximately $20 billion on a rolling basis.

As we covered back then, this revolving insurance offering will apply only to vessels that meet eligibility criteria, with insurance focusing on Hull & Machinery and Cargo to start.

DFC has since named Chubb, a global leader in Property & Casualty insurance, including Political Risk and Maritime insurance, as the lead underwriter issuing policies for eligible vessels.

“Together, DFC and Chubb have identified several American insurance companies to provide reinsurance policies behind Chubb and alongside DFC to expand market capacity. Additional reinsurance partners may be announced in the coming days,” DFC said.

DFC CEO Ben Black commented, “DFC is pleased to partner with Chubb, one of the world’s leading insurance companies, to help get energy and trade flowing again through the Strait of Hormuz.

“DFC’s Maritime Reinsurance plan combines Chubb’s premier underwriting expertise with the financial commitment of the U.S. Government. With today’s announcement, we are one step closer to restoring market confidence and resuming energy and commercial trade disrupted by the conflict with Iran.”

Evan Greenberg, Chairman and CEO of Chubb, said, “Chubb is proud to lead and manage this program in partnership with the United States Government and the U.S. International Development Finance Corporation. The commerce passing through the Strait of Hormuz plays a vital role in the global economy, and providing vessels with insurance protection is essential for resuming trade flows.”

In its full-year 2025 results, Chubb reported record P&C underwriting income of $6.53 billion, an 11.6% increase over 2024, alongside a record-low combined ratio of 85.7%.

At the time, Greenberg hailed 2025 as a great year, highlighting strong contributions across the firm’s operations.

In related news, leaders at global insurance and reinsurance broking group Aon recently shared their observations and perspectives on numerous lines of insurance business as the conflict in the Middle East continues, with Joe Peiser, CEO of Risk Capital for Aon, highlighting that for many organisations, the most significant exposure is disruption to supply chains, logistics routes, and coverage structures.

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Iyer succeeds Julie Dillman, who is retiring on 2nd April after nearly a decade with the company, including serving in her current role since January 2022.

In this role, Iyer will have executive oversight of Chubb’s global operations and technology and will work closely with Sean Ringsted, Chief Digital Business Officer, to continue advancing the company’s transformation into a digitally integrated organisation across underwriting, sales, and service operations globally.

He will report to Evan G. Greenberg, Chairman and Chief Executive Officer of Chubb Limited and Chubb Group, and John Keogh, President and Chief Operating Officer of Chubb Group.

Iyer joins Chubb after nearly 20 years at Boston Consulting Group (BCG), where he engaged with clients across industries, including financial services in North America, Europe, and Asia. Most recently, he served as North America chair for BCG X, the firm’s tech design and build unit. He also led BCG’s work in the Americas in lean services, technology operations, IT, and cloud computing.

Gordon Mackechnie, Global Head of Technology; Mike Jones, Global Operations Officer and Head of North America Operations and Technology; and Jamie Trish, Global Transformation Officer, will report to Iyer. Meanwhile, Rakshit Kapoor, Global Data Officer, will report to both Iyer and Ringsted.

“On behalf of all of us at Chubb and me personally, I want to thank Julie for her leadership over her distinguished tenure,” said Greenberg. “Julie has been instrumental in building and leading our technology and operations organisation. She brought a professionalism, drive and discipline to our technology transformation efforts that lays a strong foundation for our future evolution. I am immensely grateful for her contributions and wish her well in her retirement.”

Greenberg added, “Sesh is an accomplished executive who brings a wealth of experience in creating large-scale technology-enabled change and using data and technology to drive competitive advantage. He has my complete confidence to lead our global operations and technology organisation.”

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Bracken’s role has been expanded from his previous position as Regional Head of Consumer Partnerships, where he sourced strategic partnerships for Chubb in Asia Pacific, to now actively driving growth across the company’s Japanese business and key global digital accounts.

His responsibilities include developing new digital insurance propositions, identifying synergies, optimising key partnerships, and establishing new ones.

Bracken is an experienced financial services executive. Prior to joining Chubb, he spent three years at Coherent, most recently as Global Chief Revenue Officer, where he played a key role in launching the company in the US, UK, Thailand, Singapore, and Japan.

Before that, he was Managing Director, South East Asia at Coherent, providing insurance companies with digital solutions including ePOS, policy administration, and middleware platforms.

Earlier in his career, Bracken served as Head of Strategic Execution at NN and Chief Operating Officer at AIA, and also held roles at ING and ANZ.

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ESIS provides a full range of claim and risk management services to a wide variety of commercial clients. Services include workers’ compensation, general liability, automobile liability, products liability, professional liability, and integrated absence management.

MacLean succeeds Jim Shevlin, who is retiring after 24 years of dedicated leadership and service at Chubb.

In his new role, MacLean will be responsible for ESIS’ profit and loss performance and advancing product development, customer service, relationship management, and sales strategies for the division.

He will report directly to Matt Merna, Senior Vice President, Chubb Group and Division President, North America Major Accounts.

MacLean brings more than two decades of experience, having held multiple leadership positions specialising in workers’ compensation.

He joins Chubb from CompIQ Solutions, where he served as Chief Executive Officer. Prior to that, he worked at Conduent, most recently as President and Global Head of Commercial Healthcare.

Merna commented, “Brent’s extensive experience in the insurance industry will be instrumental in advancing ESIS’ growth.

“I am confident that his vision and strategic direction will allow us to continue delivering exceptional service and results, while ensuring we have the right strategies and tools in place to support our clients in reducing their total cost of risk.’

Merna added, “On behalf of Chubb and ESIS, I also want to thank Jim for his dedication and contributions over the last two decades. His leadership has had a lasting impact on our organisation, both during his time as Regional Executive Officer of Chubb’s Southeast region and in his most recent role as president of ESIS. We wish him all the best during his retirement.”

In a recent LinkedIn post, MacLean said, “Stepping into this role is an incredible honor. ESIS has a long-standing reputation for excellence in risk management, and I’m eager to begin this next chapter with such a storied organisation.”

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He will have a dual reporting line to Evan G. Greenberg, Chairman and Chief Executive Officer (CEO) of Chubb and to Peter Enns, Executive Vice President (EVP), Chubb and Chief Financial Officer (CFO).

Since 2019, Henck has served as EVP and Chief Actuary, North America. He succeeds Paul O’Connell, who is retiring after four decades in the property and casualty insurance industry.

Greenberg commented, “On behalf of all of us at Chubb and me personally, I want to thank Paul for his many contributions, outstanding judgment and deep professionalism over his distinguished career. Paul has been an important steward of Chubb’s actuarial capabilities, and we wish him all the best in his retirement.”

In his new role, Henck will oversee the complete actuarial function, including reserving, pricing, and capital performance measurement.

Henck has nearly three decades of industry experience, and joined Chubb in 2002. Before that, he founded and led the actuarial insights, business intelligence, and advanced analytics unit for Global Claims.

Greenberg added, “We are pleased to appoint Scott to lead Chubb’s global actuarial functions. He is an accomplished actuary and proven leader whose deep technical expertise and understanding of our businesses will ensure we continue to manage risk with the rigor and excellence that define our company.”

Enns said, “Scott’s analytical acumen and collaborative leadership style make him the ideal successor to further drive the excellence of our global actuarial operations.”

With this new appointment, Cynthia Bentley, who is currently Senior Vice President and Head Actuary of North America Commercial Insurance, will succeed Henck as EVP, North America Chief Actuary.

In her new role, Bentley will report to Henck and Juan Luis Ortega, EVP, Chubb and President, North America Insurance. She has over three decades of insurance and actuarial experience. Before her current role, Bentley led the Major Accounts Actuarial support for Property & Specialty and Financial Lines.

Ortega stated, “Cynthia’s appointment is a reflection of her outstanding track record and the tremendous impact she has had on our company. I’m confident she will continue to drive innovation and further strengthen our actuarial capabilities across our North America businesses.”

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Yarlagadda, who currently serves as Regional Executive Officer in the Southeast Region, will succeed Kinsella, who is retiring from Chubb in April after serving the company for four decades.

He joined Chubb in 2004 and has held various positions in underwriting, marketing, and branch and distribution management.

Mortimer is serving as Senior Vice President and Major Accounts Segment Leader in the Region, and will succeed Yarlagadda in his current role.

The executive has over a decade of experience with Chubb spanning Accident & Health, business development and large account distribution, including previous experience as a broker in the Southeast.

Additionally, Kevin Kraselsky, Senior Vice President and Atlanta Branch Manager, will take on expanded responsibilities by adding oversight of the Birmingham Branch territory.

This expanded role means Kraselsky will be responsible for managing distribution and production across a three-state region: Georgia, Alabama, and Mississippi. He will report directly to Mortimer.

With over 25 years of experience in the Southeast, Kraselsky brings significant knowledge and strong relationships to this position.

In these new roles, which become effective April 1, Yarlagadda and Mortimer will take on responsibility for fourteen states in the Midwest and seven states in the Southeast, respectively.

Both executives will be responsible for managing production, profit and loss, and distribution. Their duties will include executing Chubb’s underwriting and sales strategies across their respective territories.

They will report to Chris Maleno, Senior Vice President, Chubb Group, Vice Chairman, North America Insurance and Division President, North America Field Operations.

“With over 20 years in the industry, Chad’s broad experience and proven track record across key client segments and product groups has him poised to take on this new leadership role,” said Maleno.

He continued: “Ben’s leadership and deep understanding of the Southeast market will also be invaluable as we continue to grow our business throughout that region. Chubb has a reputation for its deep leadership bench, and Chad, Ben and Kevin’s new roles demonstrate that strength.”

Maleno added: “Kelley has been a tremendous colleague and influential leader throughout her career at Chubb. She has played many pivotal roles, including developing the Western Zone as Property Underwriting Manager, building the Midwest Region into what it is today and shaping our overall field structure and culture. We thank Kelley for her many contributions and wish her the very best in her retirement.”

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Morales joins Chubb with 25 years of insurance experience, where he will be responsible for leading all business aspects in the Southern Region and overseeing the continued growth of the Underwriting Centre in Madrid.

His background includes a period at Everest from 2022, initially serving as Head of Spain and later as Head of Southern Europe.

Prior to this, he held Country Leader positions at XL Catlin and AXA XL, in addition to various roles at Gen Re, QBE, and Aon.

“José Ramón’s experience, background and leadership style make him well placed to lead the Southern Region, deliver the business plans and contribute more widely to the growth and success of the business in EMEA,” said Peter Kelaher, Division President, Continental Europe, Middle East, and North Africa.

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