Chubb

The executive will relocate from London to New York and report to Chubb NA field operations COO Rob Poliseno.

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Steven Hill will report to Michael Mollica, division president of North America financial lines.

The payment followed a $200mn disbursement that Chubb made in Q3. The insurer expects to cover the remaining $500mn of the liability in 2023.

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The move fits the broader strategy around dampening volatility, but sourcing capacity in the US domestic market will be tough.