Chubb Names Spitzer Treasurer; Harkin Appointed CFO for North America Insurance
Chubb Ltd. announced that Drew Spitzer has been appointed treasurer of the company. Currently, Spitzer serves as chief financial officer for North America Insurance. In his new role, he will be responsible for all treasury-related functions of the company globally.
Kevin Harkin is succeeding Spitzer as CFO for North America Insurance. Currently, Harkin serves as senior vice president, North America Financial Operations.
Both appointments are effective March 1.
Spitzer has more than 25 years of experience in finance, accounting and insurance. Prior to serving as CFO of Chubb’s North American operations, he was CFO of Combined Insurance, a Chubb affiliate that sells personal accident and supplemental health insurance. Spitzer joined the company, then named ACE, in 2006 as senior vice president and deputy chief accounting officer. Prior to Chubb, Spitzer was a partner at Fecteau & Co. accounting firm, and a vice president at Rockledge Financial Group. He began his career at PricewaterhouseCoopers.
Harkin has more than 20 years of experience in corporate finance and accounting. As senior vice president, North America Financial Operations, he provided finance support for field operations and distribution management in the region, including overseeing the strategic use of technology and data in finance integration initiatives. He joined the company, then named ACE, in 2007 and has held finance roles in corporate financial planning and analysis, expense management, close functions and statutory reporting. He began his career in public accounting at Arthur Andersen and, later, EY.
Spitzer will report to Peter Enns, executive vice president, Chubb Group and CFO, and succeeds Mark Hammond, who is leaving the company. Hammond will remain with Chubb until March 1 to ensure a smooth transition. Harkin will report to John Lupica, vice chairman, Chubb Group, and president, North America Insurance and to Enns.
Arch Re Facultative Promotes Hernandez to CEO; Announces Other Executive Moves as Vivian Retires
Arch Re Facultative announced several promotions in its leadership team that were effective Jan. 1, 2022.
Santiago “Santi” Hernandez was named chief executive officer. Additionally, Scott Montgomery was promoted to president, Lisa Pickard was appointed Arch Re Fac’s first chief strategy officer and Mike Karam was named executive director and head of Hybrid Solutions. Jennifer Apgar, who has the dual roles of chief underwriting officer and chief operating officer has been given the additional responsibility of developing the infrastructure needed to handle Arch Re Fac’s growth.
The promotions coincide with the retirement of former Arch Re North America CEO Ken Vivian at the end of 2021.
Hernandez joined Arch Re Fac in 2007 as head referral officer. He has since held various roles, including executive director, and has served as president since 2017. As CEO, Hernandez will have oversight of Arch Re Fac’s global operations.
Montgomery also joined the company in 2007, serving as a managing director, and has held several positions including executive director and head of Hybrid Solutions. As president, he will add leadership oversight and focus on business development initiatives.
Pickard is Arch Re Fac’s first chief strategy officer, a role with an emphasis on driving initiatives around innovation and growth. She joined Arch in 2007 as underwriting director, transitioned into the Managing Director role in 2011 and most recently served as executive director.
Karam joined Arch in 2008 as an underwriting director and has held the role of programs director since 2011. As Head of Hybrid Solutions, his focus will be on creating offerings that bring together the benefits of facultative and treaty reinsurance into one product.
Apgar will continue in her dual role as chief underwriting and chief operating officer for Arch Re Fac with increased responsibilities for building out Arch Re Fac’s infrastructure and resources as the company expands its platform and capabilities. Apgar has been the company’s CUO since 2007 and added COO responsibilities in 2014.
“I want to thank Ken for his help positioning Arch Re Fac as a best-in-class facultative operation,” said Maamoun Rajeh, Chairman and CEO of the Arch Worldwide Reinsurance Group. “We have worked diligently to develop a deep and talented management team at Arch Re Fac and Santi is perfectly suited to continue our focus on smart decision-making, collaborating closely with our valued clients, and, most important, maintaining our unique and differentiating culture. Congratulations to Santi, Scott, Jen, Lisa and Mike on their promotions.”
Hernandez added, “I’m excited for the opportunity to lead our team here at Arch Re Fac. I’m fortunate to work alongside an incredible team and I look forward to collectively achieving Arch Re Fac’s fullest potential. Over the years we’ve endeavored to earn the loyalty and trust of our clients and we will continue to focus on developing long-term relationships with our partners.”
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