17 November 2015 Insurance

CNA poaches Chubb exec as new chairman and CEO

CNA Financial Corporation, the commercial insurance provider, has appointed Dino Robusto as its chairman and chief executive officer (CEO), effective on December 1, 2016.

Robusto will succeed Thomas Motamed who has decided to retire at the end of 2016, and who has served in the role since 2009. Motamed will continue as chairman and CEO until Robusto joins CNA.

Robusto joins CNA after almost 30 years at Chubb, where he was executive vice president and president of commercial and specialty lines.

"Dino is an outstanding insurance professional with a strong track record of success and leadership experience across virtually every industry discipline," said James Tisch, a member of the CNA board of directors and the CEO of Loews Corporation, CNA's largest shareholder.

"After an exhaustive search process, CNA's board is confident that we have selected the ideal individual for the job. We feel that Dino has the qualities necessary to lead CNA into its next phase of growth, building on the phenomenal work that Tom has done over the past seven years."

"I want to thank Tom for his inspired leadership at CNA. He set the company on a path of disciplined underwriting, consistent earnings growth and financial strength. We expect CNA's success to continue in 2016 with Tom at the helm."

Motamed added: "Dino Robusto is a top-tier, proven insurance leader. I am proud to hand over the reins to Dino, and I am confident he will continue the progress the CNA team has made over the past several years."

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