Chubb has appointed Jeremiah Konz as chief reinsurance officer with immediate effect. He succeeds Michael Kessler, who has been appointed division president of the company’s global cyber-risk insurance business.

Mr Konz was executive vice-president, reinsurance officer for Chubb Overseas General, the company's international general insurance business. In his new role, he will have management responsibility for the design and purchase of reinsurance programs for Chubb and its business units globally, managing the company's reinsurance recoverable asset and overseeing relationships with its reinsurers and reinsurance brokers. He will also serve as chairman of Chubb's Reinsurance Security Committee and as a member of its Global Credit Committee.

Mr Konz will report to John Keogh, president and chief operating officer of Chubb.

Mr Keogh said: "Reinsurance plays a critical role in how we manage risk, and we are pleased to welcome Jeremiah to this important leadership role for our company. Jeremiah brings strong analytical and technical skills, and a deep understanding of insurance and reinsurance markets globally.

“Over nearly a decade at Chubb, he has held important reinsurance roles in both our US and international businesses. I am confident that Jeremiah will be a strong partner to our company's insurance businesses while helping us to further develop, implement and manage our reinsurance strategy."