HONG
KONG, July 3, 2022 /PRNewswire/
-- Chubb Life today announced that Gail Costa will
lead the company's life insurance operations in New Zealand that were recently acquired from
Cigna. Ms. Costa, who is currently Chief Executive Officer of Cigna
Life New Zealand, will continue to have executive operating
responsibility for the business, which will operate under the Chubb
Life brand in New Zealand.
On July 1, Chubb, the world's
largest publicly traded property and casualty insurer, completed
its acquisition of the life and non-life insurance companies that
house the personal accident, supplemental health and life insurance
business of Cigna in six Asia-Pacific markets, including
New Zealand. The addition of this
consumer-focused business advances Chubb's strategy to expand its
presence in the Asia-Pacific region, a long-term growth
area for the company, and adds to an already sizable accident and
health (A&H) business while expanding the
company's Asia-based life insurance presence.
Ms. Costa will, in addition to the local Board, report to
Brad Bennett, Senior Vice President,
Chubb Group and Chief Operating
Officer, Chubb Life.
"Gail is an experienced insurance executive who has led
businesses for Cigna in multiple countries, including New Zealand, where she's been managing the
operation through a period of growth and change since 2018," said
Mr. Bennett. "She's a strong leader with deep expertise across
finance, operations and marketing. New Zealand is a new market for Chubb Life,
and we're fortunate to have Gail in this position. I look forward
to working with her and welcome all of our new colleagues from
Cigna at this exciting moment for our business in New Zealand and across Asia-Pacific."
Ms. Costa has more than 40 years of insurance industry
experience, including 18 years as an executive with Cigna. She has
served as CEO of Cigna Life New Zealand since 2018, and also led
the business from 2003 to 2013. Ms. Costa also held CEO
positions for Cigna in Turkey,
Hong Kong and Europe. Prior to joining Cigna, Ms.
Costa was the General Manager Operations for Asteron.
Ms. Costa is a qualified accountant and holds a bachelor's
degree in Commerce and Administration from Victoria University and a Diploma in Direct
Marketing from the Institute of Direct Marketing, London, U.K.
About Chubb Life
Chubb Life is an international life insurer, primarily focused
on Asia, that provides protection
and savings-oriented life insurance products to individuals and
groups. Chubb Life serves the needs of consumers through a variety
of distribution channels, including primarily captive agents, but
also through banks, retailers, brokers, independent agents and
direct marketing. Chubb Life has operations in eight Asian markets
— Hong Kong, Indonesia, Korea, Myanmar, New
Zealand, Taiwan,
Thailand and Vietnam — as well as Latin America.
About Chubb
Chubb is the world's largest publicly traded property and
casualty insurance company. With operations in 54 countries and
territories, 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. As an underwriting company, we assess, assume and manage
risk with insight and discipline. We service and pay our claims
fairly and promptly. The company is also defined by its extensive
product and service offerings, broad distribution capabilities,
exceptional financial strength 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, Paris and other locations, and employs
approximately 34,000 people worldwide. Additional information can
be found at: www.chubb.com
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SOURCE Chubb Life