Chubb has restructured its North America middle market organization, merging its lower middle market and digital small business divisions into a new unit: the North America small and lower midmarket division. This strategic move integrates the underwriting expertise of the lower middle market with the digital capabilities of the small business division.
This new division will offer a comprehensive suite of products and services, including property and casualty, financial lines, cyber, and multinational coverage. Juan Luis Ortega, Executive Vice President of Chubb Group and President of Chubb North America, highlighted the growth potential in these market segments.
Leadership Appointments
As part of this reorganization, Chubb has appointed Rob Poliseno as division president, reporting to Ben Rockwell, division president of Chubb North America middle market. Jason Ranucci has been named chief operating officer and will report to Poliseno. Both appointments are effective immediately.
Poliseno brings 28 years of experience in the insurance sector to his new role, including nearly 17 years at Chubb. Previously, he served as division president of small business and North America digital, and his background in underwriting and distribution will be crucial in his leadership role. Ranucci, who has 17 years of experience in the insurance industry, previously held positions as head of North America lower middle market and global chief underwriting officer for small business. He will oversee operations, including profit and loss management, field and home office underwriting, product development, pricing, portfolio management, and analytics.
“Launching this division represents an important milestone in how we serve the small and lower middle market business segment,” Rockwell said, further stating, “Rob and Jason will build on their successes in this space, leveraging our investments in a modern, automated and data-centric digital operating model that differentiates our approach.”
Expansion Initiatives
The formation of the new division is part of Chubb’s broader expansion plans. In February, the company awarded a $94 million contract to Turner Construction Company for the interior fit-out of its new Philadelphia headquarters. This expansion in Pennsylvania is expected to create at least 1,250 new jobs and preserve 3,200 existing jobs within the state over the next five years.
