Chubb has appointed Paul Johnstone – current chief operating officer in Canada – as the new country president of its Canadian operations.
Effective July 01, Johnstone’s appointment will see him take executive operating responsibility for Chubb’s retail property and casualty insurance business in Canada, which includes high-net-worth personal lines as well as accident and health offerings for clients in Canada. He will report to Chubb Group senior vice president and North America filed operations division president Chris Maleno.
Johnstone has experience in both the reinsurance and P&C sectors. Prior to the acquisition of ACE by Chubb in 2016, he served as SVP of Chubb’s personal risk services business in Canada. He joined Chubb in 1994 as an associate in commercial insurance. Johnstone has a bachelor of arts degree from the University of Windsor and holds a CRM and a Certificate in Public Administration.
"With nearly 30 years in the Canadian insurance market, Paul is poised to take on his new leadership role," said Maleno. "His background is broad and deep, with experience in underwriting, marketing and distribution across key client segments and product groups. Chubb has a reputation for its deep management bench, and Paul's promotion demonstrates the strength of our leadership team in our diverse and thriving businesses in Canada."
Johnstone succeeds John Alfieri, who retires in July after serving Chubb for close to two decades.
"John has been a tremendous colleague and influential leader throughout his career at Chubb. He joined the company in 2004 and played many pivotal roles, including developing the New York Region into what it is today and shaping our Client Executive team and overall field structure for our division that serve large national and multinational commercial clients,” commented Maleno on Alfieri’s upcoming retirement.
Maleno also noted that it was under Alfieri’s leadership that Chubb’s Canadian commercial and personal lines of business saw “significant” growth – something which should prepare his successor Johnstone to continue that upward trajectory.
Read more: Chubb delivers Q1 results
For the first quarter of 2022, Chubb was “off to a great start” according to chair and CEO Evan Greenberg despite a drop in net income. The company’s net income in Q1 2022 was US$1.97 billion, down from US$2.3 billion in Q1 2021. However, Chubb’s core operating income jumped 43.6% to US$1.64 billion during the period.
