Insurance Firms Announce Leadership Changes
Three firms in the insurance and financial services sectors have announced leadership changes as they continue to respond to changing market conditions and business priorities.
Chubb Names President of Workplace Benefits Division
Chubb has appointed Mark Shaw as division president of Chubb Workplace Benefits (CWB), effective immediately. He will oversee business operations and report to Rich Williams, president of Combined Insurance, a Chubb company. Shaw joined Combined in 2022 as regional vice president for the Northeast region and later served as head of sales for CWB. Prior to that, he spent nearly 30 years at Unum in senior roles across sales and management.
“Mark’s strategic insights as head of sales for Chubb Workplace Benefits were instrumental in achieving both record sales and recognition as the nation’s fastest-growing large voluntary benefits worksite carrier,” Williams said. Chubb Workplace Benefits provides voluntary benefits solutions for mid-to-large-sized businesses. Products are underwritten and administered by Combined Insurance.
Lockton Appoints US Professional and Executive Risk Leader
Lockton has promoted Sarah Downey to lead its US Professional and Executive Risk practice. She succeeds Devin Beresheim, who was named US Risk Solutions Leader earlier this year. In her new position, Downey will oversee broking, advisory, and claims services across professional and financial insurance lines, as well as guide growth initiatives within the practice.
“Since joining Lockton, she has consistently advanced our practices and led initiatives that are shaping the future of insurance,” said Beresheim. Downey brings over 20 years of experience as a broker and attorney, with a focus on financial lines. She previously led operations for Lockton’s professional and executive risk group and served as blockchain advisory leader, where she launched the firm’s digital asset insurance initiative.
Prudential Financial Elects Tom Stoddard to Board
Prudential Financial has appointed Tom Stoddard as an independent director on its board, effective June 30, 2025. He will serve on the board’s audit and investment committees. Stoddard has more than three decades of experience in financial services, including roles in insurance, asset management, and investment banking.
“Tom brings a valuable perspective to Prudential’s Board through his broad and diverse leadership experience across financial services,” said Sandra Pianalto, chair of the board’s corporate governance and business ethics committee.
