Kessler to lead Chubb’s global cyber risk insurance business
Chubb has appointed Michael Kessler as division president of its global cyber risk insurance business.
Kessler was formerly vice president and chief reinsurance officer at Chubb Group. He has nearly 30 years of experience in insurance and actuarial consulting and was named vice president of Chubb Group, a title he continues to hold, in 2016.
From 2008 he served as chief actuary for the company's international general insurance business. He joined the company when it was ACE in 2003 as senior vice president and chief actuary for Westchester, its US commercial property and casualty excess and surplus lines business. Before that he had held senior manager and consulting actuary positions at Ernst & Young and PricewaterhouseCoopers.
In his new role he oversees all facets of the cyber risk insurance business, including strategy, product and business development, underwriting and service operations, and overall profit and loss performance.
The business continues to report into the company's North America and international cyber risk divisions. Kessler himself reports to Paul Krump, vice chairman of global underwriting and claims at Chubb Group. Chubb said this will ensure global consistency of product design, enterprise risk management and risk tolerance, underwriting tools and loss mitigation services and protocols.
Krump highlighted Kessler’s extensive experience and history with the company, his leadership of the global reinsurance function and his technical skills and actuarial background.
"Chubb's industry-leading risk transfer, loss mitigation and incident response services for the rapidly evolving cyber risk threats faced by businesses of all sizes and individuals are more important than ever,” Krump said.
William Wise, senior vice president of Chubb's North America professional liability and cyber practice, reports jointly to Kessler and Steven Goldman, division president of financial lines for North America insurance.
Kyle Bryant, senior vice president and cyber product manager and technology practice lead for Chubb's international general insurance business, reports jointly to Kessler and Tim Stapleton, executive vice president of financial lines for overseas general insurance.
