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Chubb said it leveraged its underwriting and risk technical capabilities by integrating existing units engaged in traditional, alternative and renewable energy, climate technology, agribusiness and risk engineering services. In 2022, these businesses will generate more than $675 million in premium income for the company.
The new unit will be led by two of Chubb’s senior leaders. Matthew McMullin (pictured above, left) has been named North American Leader of the Chubb Global Climate Practice, while Matthew Hardy (pictured above, right) has been appointed Leader of the Chubb Overseas General (COG), and I am in charge of the market. USA, Canada, 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 such as agritech in Latin America, electric vehicles in Europe and manufacturing in Asia. In many ways,” Hardy added. “With a full range of solutions, dedicated underwriters and risk engineers, we can scale to meet complex client needs.”
Currently based in New Jersey, McMullin will maintain his role as the North American Energy Industry Practice Leader with his new appointment. In his 2008 he joined Chubb and played several roles in Global Casualty. In 2021, he joined the commercial insurance and energy industry practice, responsible for its underwriting portfolio.
Based in London, Hardy was COG’s Executive Vice President of Energy. With nearly 30 years of experience in the insurance industry, he first joined Chubb in 1996. Over the years, he has held various energy-related positions, including Head of Onshore at COG and Chief Underwriting Officer for Energy.
Rounding out the team is attorney Margaret Peloso, Chubb’s new global climate officer. She joined Chubb from her Vinson & Elkins where she was the company’s lead and her sustainability partner. She holds a PhD in Environmental Studies from Duke University and is a Trustee of the Environmental Law Institute.
Evan G. Greenberg, Chairman and CEO of Chubb, said: “We look forward to Chubb providing additional capabilities in the coming months to support customers across all industries as they strive to become carbon neutral and more resilient from the threat of climate change. .”
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