Chubb’s chief financial officer, Philip Bancroft, will retire on July 1 after 19 years with the company.

He will be succeeded by Peter Enns, who is to join the company as an executive vice-president on or before April 1.

Mr Enns has more than 30 years of finance and investment banking experience. He spent more than 20 years with Goldman Sachs and most recently was with HSBC, including his last assignment as global co-head of Investment Banking Coverage based in Hong Kong.

Mr Bancroft is expected to remain with the company beyond July 1 in an advisory capacity for the remainder of the year, and to be available to support Mr Enns.

Evan Greenberg, chairman and chief executive officer of Chubb, said: “On behalf of all my colleagues and our board of directors, I want to extend our deepest gratitude to Phil Bancroft. Phil has contributed a great deal to our company's success over his nearly 20 years. He has been a key member of the executive team that helped transform the company to become what it is today, the world's largest publicly traded property and casualty insurer. Under his leadership, Phil has built and groomed an outstanding finance team. I wish Phil and his wife Denise much happiness in his retirement."

Regarding the appointment of Mr Enns, he said: “Peter and I have known each other for more than 15 years. He has the right background to lead our finance organisation, with proven experience in corporate finance, investment banking, accounting and public markets. Peter's broad experience across financial services includes property, casualty and life insurance as well as asset management. He is a seasoned international executive with deep knowledge and operating experience in the Asia region, including China. His character, integrity and style are an excellent fit for the Chubb culture."