LONDON, April 14, 2016 /PRNewswire/ -- Chubb today announced that Luc Reuter will serve as Senior Vice President and Head of Surety for Europe. His appointment is effective immediately.

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Luc, who served in the same position for legacy ACE, will be responsible for the performance and profitable development of Chubb's surety business. Supported by its global network, Chubb offers a range of surety products to its 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.

Under Luc's leadership, Chubb's surety business in Europe has expanded 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 extensive financial services experience, including 16 years of credit and surety underwriting. He is a former Chairman of the Surety Committee of the International Credit Insurance & Surety Association (ICISA). He will continue to be based in Frankfurt and report to Stephen Haney, Chief Underwriting Officer Global Surety for Chubb, with a matrix reporting line to Jeff Moghrabi, Regional President, Continental Europe for Chubb.

Stephen Haney, Chief Underwriting Officer Global Surety for Chubb, said:

"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. Chubb's global presence and great underwriting expertise give us a strong platform to further build our presence across Europe. I look forward to continue working with him."

Jeff Moghrabi, Regional President, Continental Europe for Chubb, said:

"Luc has led the successful expansion of our surety business across some of Europe's biggest markets. 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."

About Chubb

Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries, 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. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise 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 and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: new.chubb.com

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SOURCE Chubb