29 July 2015 Insurance

ACE appoints future global underwriting EVP

Re/insurer ACE has appointed Paul Krump as executive vice president for global underwriting and claims.

Krump is currently president of personal lines and claims for Chubb. He will take up the new position following ACE’s acquisition of Chubb.

He will provide counsel, assistance and direction to Frank Lattal, who is currently chief claims officer for ACE and who will continue to serve in that role and report to Krump. He will also partner with Jacques Bonneau, who is executive vice president, global underwriting, ACE and who will continue to serve in that role.

Krump will report to John Keogh, vice chairman and chief executive officer (CEO) of ACE. He will also join the parent company’s executive committee.

Evan Greenberg, chairman and CEO of ACE, said: “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.

“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 organisations. 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.”

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