HONG KONG, July 4, 2022 /PRNewswire/ — Chubb Life today announced that Gail Costa will lead the company’s life insurance business in New Zealand which were recently acquired from Cigna. Ms Costa, who is currently Managing Director of Cigna Life New Zealand, will continue to have executive operational responsibility for the business, which will operate under the Chubb Life brand in New Zealand.
Gail Costa will lead the New Zealand life operations that Chubb Life recently acquired from Cigna.
On July, 1stChubb, the world’s largest publicly traded property and casualty insurer, has completed the acquisition of the life and non-life insurance companies that house Cigna’s personal accident, supplemental health and life business in six Asian markets -Pacific, including New Zealand. The addition of this consumer-focused business advances Chubb’s strategy to expand its presence in the Asia-Pacific region, a long-term growth area for the company, and adds to an accident and health business (A&H) already large while expanding the company’s Asia. -presence of life based insurance.
Ms. Costa, in addition to the local council, will report to Brad Bennettfirst vice-president, Chubb Group and Chief Operating Officer, Chubb Life.
“Gail is an experienced insurance executive who has led business for Cigna in several countries, including New Zealandwhere she has led the operation through a period of growth and change since 2018,” Mr. Bennett said. “She is a strong leader with deep expertise in finance, operations and marketing. New Zealand is a new market for Chubb Life, and we are fortunate to have Gail in this position. I look forward to working with her and welcome all of our new Cigna colleagues at this exciting time for our company at New Zealand and through Asia Pacific.”
Ms. Costa has over 40 years of experience in the insurance industry, including 18 years as an executive at Cigna. She has been CEO of Cigna Life New Zealand since 2018 and also led the business from 2003 to 2013. Ms Costa has also held CEO roles for Cigna in Turkey, hong kong and Europe. Prior to joining Cigna, Ms. Costa was Chief Operating Officer at Asteron.
Ms. Costa is a qualified accountant and holds a Bachelor of Commerce and Administration from Victoria University and a Diploma in Direct Marketing from the Institut du Marketing Direct, London, UK
About Chubb Life
Chubb Life is an international life insurer, primarily focused on Asia, which offers protection and savings-oriented life insurance products to individuals and groups. Chubb Life serves consumer needs through a variety of distribution channels, primarily including captive agents, but also through banks, retailers, brokers, independent agents and direct marketing. Chubb Life is present in eight Asian markets — hong kong, IndonesiaKorea, Burma, New Zealand, Taiwan, Thailand and Vietnam – as good as Latin America.
Chubb is the largest publicly traded property and casualty insurance company in the world. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, supplementary accident and health insurance, reinsurance and life insurance to a diverse group of customers. As an underwriting firm, we assess, assume and manage risk with insight and discipline. We process and pay our claims fairly and promptly. The company is also defined by its broad product and service offerings, extensive distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a constituent of the S&P 500 Index. Chubb has executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 34,000 people worldwide. Additional information can be found at: www.chubb.com