Chubb chief accounting officer to leave; successor revealed

Property/casualty insurer Chubb has appointed Annmarie Hagan as new vice president and chief accounting officer, succeeding Paul Medini, who is retiring from the company.

Hagan currently serves as global controller. She has more than 35 years in insurance, accounting and financial management.

In her new role, Hagan will be responsible for the company's corporate and regulatory accounting matters; managerial and external financial reporting; group-wide financial planning and analysis; statutory and GAAP accounting policy; and financial oversight for the company's global information technology and operations area. She will also have direct oversight of corporate and subsidiary controllers. Hagan will report to Philip Bancroft, executive vice president, Chubb Group and chief financial officer.

Medini, a Chubb Group senior vice president who has served as chief accounting officer since 2003, will remain with the company until August 2020 to assist with the transition and related matters.

Evan Greenberg, chairman and chief executive officer or Chubb, said: "I have known and worked with Paul personally for many years and depended on his technical expertise and leadership as a career finance executive. I want to thank him for his service and wish him and his family much happiness in his retirement. Over the years, Paul built a strong team around him and he is leaving the chief accounting officer responsibilities in the very capable hands of Annmarie. I have every confidence in her experience, judgment and leadership."

Bancroft added: "Annmarie is a strong executive and team leader who has extensive and proven experience in P&C insurance accounting, finance and operations," said Mr. Bancroft. "She has been a key member of our finance team for many years and we're delighted to appoint her to this important leadership role.

"I want to thank Paul for his 17 years of service as Chief Accounting Officer of the company, managing this key function through a period of continuous growth. I consider Paul a dear friend and on behalf of the company wish him the best in his well-deserved retirement."