Chubb creates new private equity practice

Underwriting team will cover broad range of areas

Chubb is creating a new private equity practice to offer specialized insurance solutions to Canadian and American private equity firms and their portfolio companies.

It says Executive Vice President Seth Gillston will manage a team of underwriters to cover a broad range of areas, including foreign casualty, environmental, surety, transactional risk, loss portfolio transfers and political risk.  The company says its practice will also coordinate distribution of M&A-specific insurance solutions such as transactional risk products.     

With private equity firms involved in deals that span multiple industries and geographical regions, says Gillston, “these deals present new challenges and require companies to rebalance their priorities, which often add layers of risk.”

Ace recently bought Chubb for about $28.3 billion in cash and stock in a deal that created one of the world’s largest insurers.

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