Ex-Hiscox CEO and top Chubb US leader join Brown & Brown board
US insurance brokerage Brown & Brown has tapped the expertise of industry veterans and former Hiscox/Chubb leaders, as it looks to pursue strategic growth opportunities that yield long-term value for its shareholders.
Paul Krump (pictured right) and Bronek Masojada (pictured left) have joined Brown & Brown’s board of directors.
Masojada served as chief executive officer of Hiscox from 2000 until his retirement in 2021. He first joined Hiscox in 1993 as group managing director. Before joining Hiscox, Masojada began his career at McKinsey & Company. He served as deputy chairman of Lloyd’s of London from 2001 to 2007 and as chairman of the Lloyd’s Tercentenary Research Foundation from 2008 to 2014. Masojada currently serves as chair of the board of directors of SiriusPoint.
Krump retired from Chubb on January 1, 2023, most recently serving as vice chairman, global underwriting and claims since September 2020. From 2016 to 2020, he served as executive vice president, Chubb Group and president, North America commercial and personal insurance. Before Chubb’s January 2016 acquisition of The Chubb Corporation, Krump served as chief operating officer of The Chubb Corporation. He joined The Chubb Corporation in 1982 as a commercial underwriting trainee in the Minneapolis office. Krump held numerous headquarters and field positions in the US and Europe, including president of personal lines and claims and president of commercial and specialty lines.
H. Palmer Proctor, Jr., Brown & Brown’s lead independent director and chair of the Nominating/Corporate Governance Committee of Brown & Brown’s board of directors, said: “Paul and Bronek are highly accomplished leaders who have guided some of the world’s most respected insurance companies through periods of extraordinary growth. Their broad and deep knowledge in the insurance industry, together with their international experience, will benefit Brown & Brown as we continue to pursue strategic growth opportunities that create long-term value for our shareholders.”
J. Powell Brown, Brown & Brown’s chief executive officer and a member of the board, added: “Paul and Bronek bring a unique perspective to the board supported by their many years of operating insurance companies in the U.S. and international markets. We believe they will be tremendous assets to the board and are thrilled they have chosen to lend their remarkable capabilities to Brown & Brown.”
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