BERMUDA, March 10, 2016 – Chubb announced today that Rees Fletcher, Chairman of its Bermuda-based insurance operations, will retire on 31 March 2016, bringing to a close a distinguished 27-year career with the company.
On 14 January 2016, ACE completed its acquisition of Chubb. ACE Bermuda is expected to become Chubb Bermuda in the second quarter of 2016. As previously announced, Joseph S. Clabby will continue to serve as Division President, Bermuda and Global Accounts.
Mr. Fletcher joined ACE as an underwriter in 1989. He was employee number 21, having joined just four years after the formation of the company, and is one of the longest-serving employees in the Bermuda operations. Prior to ACE, he spent six years at Bermuda Fire & Marine as Controller, Commercial Lines with underwriting responsibilities for commercial property and casualty accounts before taking the leap from insuring the local Bermuda market to insuring corporate America.
Having started out as an underwriter in the Excess Liability department, Mr. Fletcher rose to the position of Senior Vice President in January 2000. He became the first Bermudian to be appointed President of ACE Bermuda in 2004 with responsibility for the Bermuda-based commercial P&C insurance business that writes high-limit Excess Liability, Property, Political Risk and Directors and Officers coverages worldwide. Mr. Fletcher was appointed Chairman of ACE Bermuda in April 2015.
Throughout his career, he has taken an active interest in the professional development of Bermudians and created a nurturing learning environment within the company. Mr. Fletcher has coached and mentored numerous underwriters and advanced the careers of many Bermudians through the development of the company’s graduate trainee and summer internship programmes.
Aside from his impact in the insurance industry, Mr. Fletcher has played a significant role in Bermuda’s charitable sector, as director of Pathways (formerly Caron Bermuda) and as an active board member of numerous non-profit organisations, including the Bermuda Sloop Foundation, Bermuda Hospitals Charitable Trust, National Museum of Bermuda, Outward Bound, the Duperreault Fellowship Committee, Bermuda First and Bermuda Business Development Agency and as a member of the Board of Trustees of the ACE Foundation - Bermuda.
He is a past president of the Bermuda Insurance Institute (BII), and has served on the boards of the Bermuda Foundation for Insurance Studies (BFIS) and Association of Bermuda Insurers and Reinsurers (ABIR) and as a member of the Government’s Statutory Insurance Advisory Committee (IAC).
John Lupica, Vice Chairman of Chubb and President, North America Major Accounts and Specialty Insurance, said, “Rees has, in effect, matured and grown along with the Bermuda insurance market that he knows so well and has worked tirelessly to help build over the past 30 years. We thank him for the tremendous contributions he has made to Chubb and the Bermuda community.”
Mr. Clabby added, “We are extremely proud of Rees’ contributions not only to the growth of our business, but also to the development of the Bermuda community. He leaves behind a dedicated and skillful team of underwriters and other professionals at Chubb and in Bermuda, many of whose careers he helped to propel through his commitment to expanding educational and professional development opportunities.”
Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 30,000 people worldwide. Additional information can be found at: new.chubb.com.