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Executive Changes
Everest Re Taps Chubb Executive as Future CEO

Also: Brighthouse Financial appoints CFO, Aegon names successor to CEO Wynaendts, and AIG appoints EVP-chief human resources officer.
  • October 2019
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Juan C. Andrade

Juan C. Andrade left Chubb Ltd. to become chief operating officer of Everest Re Ltd. effective Sept. 1. Andrade will then succeed Dominic J. Addesso as president and chief executive officer of the reinsurance group on Jan. 1, 2020.

With more than 25 years of experience, Andrade has led large and complex domestic and international businesses, Everest Re said in a statement. He held executive roles in underwriting, product development and innovation, claims, sales and distribution, strategy development and general management, where he was responsible for leading all aspects of the businesses.

Everest Re said Andrade has extensive experience in the United States and across Europe, Asia Pacific, Japan, Latin America and Africa, as well as in the London wholesale market and Lloyd's. Prior to beginning his insurance career, Andrade worked in national security and international affairs within the U.S. federal government's executive branch and the executive office of the president.

Addesso announced in January that he intends to retire as Everest Re's president and CEO at the end of his contract term on Dec. 31.

Everest Re's board “is incredibly excited to have an executive with Juan's strength, skill set and experience to chart our plan for success into the future,” said Chairman Joe Taranto in a statement.

—David Pilla

Juan Luis Ortega

Juan Luis Ortega Named EVP, Chubb Group and President of Overseas General Insurance

Chubb appointed Juan Luis Ortega as executive vice president, Chubb Group and president, overseas general insurance, succeeding Juan C. Andrade.

He will have executive operating responsibility for Chubb's general insurance business in 51 countries outside of North America, including commercial property/casualty, traditional and specialty personal lines and accident and health insurance. The North America region includes the United States, Canada and Bermuda.

He most recently served as senior vice president of Chubb Group and regional president of Latin America.

Ortega was named regional president of Latin America in 2016 and was regional president of Asia Pacific from 2013 to 2016, a position he retained after Ace's acquisition of Chubb. Before that, he was senior vice president, accident and health, for the company's Asia Pacific region.

He joined Ace in 1999 and advanced through a series of accident and health and credit insurance management positions in Miami, Puerto Rico and Mexico, before being named country president of Chile in 2005, where he was responsible for Ace's property/casualty, A&H and life insurance businesses in that country. He was also senior vice president and regional head of A&H for the company's Latin America region.

Edward “Ed” Spehar

Brighthouse Financial Appoints Spehar Chief Financial Officer

Brighthouse Financial Inc. has appointed Edward “Ed” Spehar to serve as executive vice president and chief financial officer.

He will be succeeding Conor Murphy, who currently serves as the interim CFO. Once Spehar assumes this role, Murphy will continue as the company's executive vice president and chief operating officer.

Spehar will be responsible for the company's overall financial strategy, including financial planning and analysis, investor relations, accounting and reporting, treasury, actuarial and expense management.

Prior to Brighthouse, Spehar served as the treasurer at MetLife Inc. He also served as the CFO of MetLife's Europe, Middle East and Africa segment. During this time, he was responsible for all financial management matters for that segment.

Lard Friese

Alex Wynaendts

Aegon Names Successor to CEO Wynaendts

Less than three months after reappointing Alex Wynaendts to a new four-year term as chief executive officer, Netherlands-based international life and pension group Aegon NV said he is to be replaced by Lard Friese, CEO of fellow Dutch-based financial services group NN Group NV.

Friese is due to become CEO-designate on March 1, 2020, and assume the permanent title on May 15.

Aegon said the proposed appointment will be submitted to the next annual shareholders meeting. Regulatory approval has already been obtained.

Wynaendts, who has been Aegon's CEO since 2008, was appointed to a new four-year term at the annual meeting on May 17.

In the meantime, NN Group named David Knibbe as CEO of the company to succeed Friese. The appointment of Knibbe, CEO of NN Netherlands, is subject to approval from the Dutch Central Bank. If approved, the appointment will be effective Oct. 1, after notification to the general meeting of NN Group at an extraordinary general meeting that was to be held on Sept. 26.

Friese, who has almost three decades of experience in the financial services sector, worked for Aegon between 1993 and 2003.

Dick Schiethart, an Aegon spokesman, said the group announced that it would begin a selection process to find a successor to Wynaendts when it announced in November 2018 that it planned to reappoint him.

Karen Ling

AIG Appoints Executive Vice President-Chief Human Resources Officer

American International Group Inc. named Karen Ling as executive vice president, chief human resources officer.

She will also join the AIG executive leadership team and will be based in New York and will report to Brian Duperreault, president and chief executive officer.

In her new role, she will lead the global human resources department. She will align the company's talent strategy with their long-term strategic, operational and financial objectives.

Ling joins AIG from Allergan plc, where she served as the executive vice president and chief human resources officer for five years.

Venkat Krishnamoorthy

Hamilton Insurance Group Appoints Chief Technology Officer

Hamilton Insurance Group Ltd. has appointed Venkat Krishnamoorthy as chief technology officer.

Krishnamoorthy will report to Pina Albo, chief executive officer.

In his new position, Krishnamoorthy will be responsible for the continuous development of the company's data-driven technology strategy and execution. He will oversee the groupwide internet technology team.

Krishnamoorthy joins Hamilton from Coleman Research, where he served as chief technology officer.

Roger Craig Day

Former Utah Insurance Commissioner Dies

Roger Craig Day, former Utah insurance commissioner, died on July 18 at the age of 71.

He was appointed commissioner in 1977 by then-Gov. Scott Matheson. At age 29, he was the youngest insurance commissioner in state history, according to his obituary. He also served as president of the National Association of Insurance Commissioners.

His professional career began at the University of Utah, where he served in the department of family and preventative medicine. He later worked at Beneficial Life Insurance Co., where he was responsible for strategic long-range planning and development.

He remained active in Democratic politics throughout his life, lending his skills to multiple campaigns.

Steven Chang

Munich Re Appoints Steven Chang as Chief Executive of Greater China

Munich Re has appointed Steven Chang as chief executive of Greater China, leading its nonlife business and operations in China, Taiwan, Hong Kong and Macau.

Chang joined Munich Re in 1997 and became chief executive officer of the Beijing branch in 2009, with expanded responsibility for greater China nonlife clients and markets from 2013.

Chang succeeds Christoph Hoch, who has returned to Germany to take up the role of regional head, Munich Re Facultative &Corporate, Iberia and Latin America. Also, Munich Re has appointed Zi Jia Li as managing director of SiTao Consulting, with responsibility for the company's innovation lab in Beijing as well. Li will report to Chang, and he was previously chief digital officer at Chubb China.

Recently, Munich Re hired Kyungsuk Lee to lead its life and health business in South Korea. The appointment is part of the reinsurer's leadership transition in South Korea, with the head of life and health Soobum Lee retiring on Sept. 30.

Jennifer Waldner

AIG Names Chief Sustainability Officer

American International Group named Jennifer Waldner to the newly created position of chief sustainability officer. She will be responsible for leading the development and implementation of a company-wide sustainability strategy.

Throughout her 10 years at AIG, Waldner has continually gained greater responsibility, most recently serving as head of citizenship for AIG Life and Retirement. She served in citizenship roles at State Street Corp. for a decade.

Jonathan Bennett

Hartford Names Head of Group Benefits

Hartford Financial Services has named Jonathan Bennett as head of group benefits, succeeding Mike Concannon, who is retiring after a 24-year career.

Bennett has had a 20-plus year career with Hartford, and in his most recent position, served as the head of strategy for both property/casualty and group benefits. Prior to that, he served roles in personal lines, commercial markets, ventures and digital commerce and customer analytics. Before coming to Hartford, Bennett held leadership roles with Cigna's retirement and individual insurance divisions.

James “Jamie” Love

AIG Appoints Global Head of Real Estate

American International Group Inc. said it has appointed James “Jamie” Love as global head of real estate.

Love will be responsible for aligning AIG's global real estate footprint with the company's overall operational and financial objectives and will lead strategic planning for AIG's owned and leased assets. He will be based in New York.

Prior to joining AIG, Love was at Goldman, Sachs &Co., where he served as vice president, head of real estate strategy, Americas.

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