Company-wide commitment to ‘support progress towards resilience and net zero’ – Chubb Chairman and CEO Greenberg
Chubb Leader Appointed Co-Head of New Business
Zurich, January 4, 2023 /PRNewswire/ — Chubb (NYSE: CB) today announced the launch of its new Global Climate Business Unit. It leverages the company’s extensive technical capabilities in underwriting and risk engineering to provide traditional energy, alternative energy, renewable energy, climate, technology, agribusiness and risk engineering services. The new business unit will offer a full range of insurance products and services to companies involved in developing or adopting new technologies and processes that help reduce their carbon reliance. We also provide risk management and resilience services to help those managing the impacts of climate change.Combined, these businesses already $675 million Chubb premium income in 2022.
“After months of thoughtful deliberation, today we are announcing an expanded commitment to support the transition to net zero in response to the growing climate challenge,” it said. Evan G. Greenberg, Chairman and Chief Executive Officer. “We look forward to Chubb providing additional capabilities in the coming months to support customers across all industries looking to become carbon neutral and more resilient from the threat of climate change.”
The new Global Climate Business Unit will be jointly led by two experienced Chubb Senior Leaders. Matthew McMullinto the original Whitehouse Station, New Jerseywas named the North American Leader for the Chubb Global Climate Practice. Matthew Hardyto the original Londonnamed Chubb Overseas General (COG) Leader, representing all markets outside the United States, Canada When Bermuda.
“In addition to already underwriting one-third of the Global CleanTech 100 companies, we have been underwriting renewable and alternative energy businesses for over 20 years, during which time we have kept pace with rapidly evolving technologies. “We had a lot of fun,” said McMullin. “New businesses will see increased appetite and additional customized insurance products and related services to further support the transition from hydrocarbon-based fuels to greener and renewable natural resources.”
“Our presence in 54 countries and territories allows us to be at the forefront of new technological developments, including AgriTech. latin america,Electric car Europe Manufactured in Asiaeach sector contributes to the global net-zero goal and innovates in different ways, Hardy added. can be scaled to meet customer needs.”
McMullin will maintain his role as the Energy Industry Practice Leader. North Americajoined Chubb in 2008. June 2021I was responsible for the division’s underwriting portfolio.
A former vice president of energy at COG, Hardy has nearly 30 years of experience in the insurance industry. Since joining the company in 1996, he has held various energy-related positions, including Head of Onshore COG and Chief Underwriting Officer of the Energy Division.
McMullin and Hardy will work with Chubb’s new global climate officer. Margaret PelosoShe was an attorney at Vinson & Elkins, where she was the company’s Lead Sustainability Partner and served on the Board of the Environmental Law Institute. Peloso holds a PhD in the environment. Duke University.
For more information on Chubb’s new Global Climate Business, please visit www.chubb.com/climate.
Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb offers commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a wide variety of customer groups. As an underwriter, we assess, underwrite and manage risk with insight and discipline. We will process and pay claims fairly and promptly. The company is also defined by its broad product and service offerings, broad distribution capabilities, exceptional financial strength, and global local operations. Our parent company, Chubb Limited, is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 Index. Chubb is Zurich, New York, London, Paris and elsewhere, employing approximately 34,000 people worldwide. For additional information, please visit www.chubb.com.
Cautionary Note Regarding Forward-Looking Statements
Forward-looking statements made in this press release, including statements regarding Chubb’s product and service offerings, risk management, including climate-related risks and opportunities, commitments and expectations and intentions of Chubb and other statements that are not historical facts. Forward-looking statements reflect the future prospects of the company. It is a current view of future events and is prepared pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that could cause actual results to differ materially from those set forth in these statements. Additional information regarding factors that could cause differences from these forward-looking statements is set forth in Chubb’s filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements. These statements speak only as of the date they were made.
Note to editors:
Biography and photo Matthew McMullin When Matthew Hardy Available upon request.
Sauce Chubb Limited