ACE Limited announced today that Paul Krump, currently President of Personal Lines and Claims for Chubb, will serve as Executive Vice President for Global Underwriting and Claims for the parent company.
The intended appointment will take effect upon completion of the acquisition of Chubb, which is expected in the first quarter of next year.
Mr. Krump will provide counsel, assistance and direction to Frank Lattal, who is currently Chief Claims Officer for ACE Group and who will continue to serve in that role and report to Mr. Krump. Mr. Krump will also partner with Jacques Bonneau, who is Executive Vice President, Global Underwriting, ACE Group and who will continue to serve in that role to advance underwriting excellence across the organization. Mr. Krump will report to John Keogh, who is currently Vice Chairman and Chief Operating Officer of ACE Group and who will continue to serve in that role. In addition, Mr. Krump will join the parent company’s Executive Committee.
“I am pleased to announce our intention to appoint Paul to this senior corporate position where he will work closely with our many underwriting and claims executive colleagues around the globe,” said Evan G. Greenberg, Chairman and Chief Executive Officer of ACE. “Working with Frank, Paul will call upon his tremendous experience, including many years in general management, to bring together the strengths of both companies’ claims organizations. Paul is an underwriter’s underwriter and he will bring to bear his proven record and deep insights into risk and all facets of underwriting. After all, underwriting is the reason we exist as a company, and a well-run insurance company is an underwriting company.”