Chubb has appointed industry veteran Luc Reuter as senior vice president and head of surety for Europe, the same position he held at Ace before the insurers’ merger early this year.
Reuter will be responsible for the performance and profitable development of Chubb’s various surety products offered to European clients, including contract bid, performance and advance payment bonds, bonds to secure payment and legal/regulatory obligations and bonds to appeal adverse tax-related and civil judgements.
He will remain based in Frankfurt and report to Stephen Haney, chief underwriting officer global surety for Chubb.
Reuter worked in the same role at Ace, where he headed the expansion of the surety business in Europe over the last three years to include local presence and underwriting resource in six markets, namely Germany, France, Benelux, Iberia, Italy and the UK and Ireland.
"Luc has led the successful expansion of our surety business across some of Europe's biggest markets,” said Haney.
“His continued leadership will be instrumental in making sure that our clients, especially Europe's many successful exporting companies, realise and fully benefit from the benefits of our suite of surety products.”
Reuter has nearly two decades of experience in financial services, including 16 years of credit and surety underwriting.
Prior to joining Ace, Reuter served at Swiss-based global insurer
Zurich as head of credit & surety for Europe and head of continental Europe surety for 11 years.
He is also a former chairman of the Surety Committee of the International Credit Insurance and Surety Association.
Jeff Moghrabi, Chubb continental Europe regional president, said the company will be able to build further its business in Europe with the company’s global presence and Reuter’s expertise.
"I am delighted that Luc will continue to head our surety business in Europe. As a recognised global surety expert, his considerable knowledge and extensive market experience are a real asset to our offering for our clients in the region,” Moghrabi said.
