CNA Financial appoints Dino Robusto as chairman and CEO; Thomas Motamed to retire at end of 2016

CNA Financial Corporation announced on Monday the appointment of Dino E. Robusto as its chairman and chief executive officer effective “on or about Dec. 1, 2016.”

Robusto will succeed Thomas F. Motamed, who has decided to retire at the end of 2016, and who has served in that role since 2009. Motamed will continue as chairman and chief executive officer until Robusto joins CNA.

Robusto comes to CNA after almost 30 years at The Chubb Corporation, where he is currently executive vice president and president of commercial and specialty lines, Chubb said in a release. He will retire from Chubb on Nov. 30, 2015.

Robusto’s duties at Chubb will be assumed by Paul J. Krump, currently executive vice president of Chubb and president of personal lines and claims, until completion of the proposed merger with ACE Limited, which is expected to take place in the first quarter of 2016.

Chubb said that Robusto has been with Chubb for 29 years, beginning in 1986 as a commercial lines underwriter, and has held increasingly responsible positions in the field and the home office. He was elected to his current position in January 2014 after serving as president of personal lines and claims from 2011 through 2013.

“Dino is an outstanding insurance professional with a strong track record of success and leadership experience across virtually every industry discipline,” said James S. Tisch, a member of the CNA Board of Directors and the chief executive officer of Loews Corporation, CNA’s largest shareholder. “After an exhaustive search process, CNA’s board is confident that we have selected the ideal individual for the job. We feel that Dino has the qualities necessary to lead CNA into its next phase of growth, building on the phenomenal work that Tom has done over the past seven years.”

Tisch added in a statement from CNA that Motamed “set the company on a path of disciplined underwriting, consistent earnings growth and financial strength. We expect CNA’s success to continue in 2016 with Tom at the helm.”

CNA’s insurance products include standard commercial lines, specialty lines, surety, marine and other property and casualty coverages. CNA’s services include risk management, information services, underwriting, risk control and claims administration.

Chubb provides p&c insurance products to customers around the globe, offered through a worldwide network of independent agents and brokers. Chubb also tailors products for the needs of high-net-worth individuals and commercial customers in niche markets and select industry segments.