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Posted By Admin on January 27, 2012

NEW YORK, Jan 17, 2012 (BUSINESS WIRE) –
Chartis today announced that it has aligned its geographic structure to
enhance execution of the company’s commercial and consumer strategies
and to add greater focus on its growth economies initiatives. Under this
framework, Chartis will be organized under three major geographic areas:
the Americas, Asia and EMEA (Europe, Middle East and Africa).

Peter Hancock, Chief Executive Officer of Chartis, said, “As Chartis
continues to evolve as a company, we are deploying our global resources
in a manner that will create a more efficient regional framework to
improve delivery of our insurance solutions and add value for our
customers.”

Peter Eastwood, President and Chief Executive Officer of the U.S. and
Canada, will assume responsibility for the Americas, which includes the
U.S., Canada, Latin America and Bermuda. Jose Hernandez, President and
Chief Executive Officer of the Far East Region, will now have
responsibility for Japan and Chartis’ Asia Pacific region.

Robert Schimek has been named President and Chief Executive Officer of
EMEA, with responsibility for Europe, the Middle East and Africa. Mr.
Schimek had been Chartis’ Chief Financial Officer for the past six
years. James Bracken, who has served as a Deputy Chief Financial Officer
for Chartis, has been appointed Chief Financial Officer for the company
and will report to David Herzog, Chief Financial Officer for AIG.

In addition, Alexander Baugh will become Chartis’ Chief Risk Officer and
Head of Strategic Planning, reporting to Sid Sankaran, AIG’s Chief Risk
Officer. In this capacity, Mr. Baugh will lead Chartis’ efforts to ever
improve its risk profile, and to drive its strategic plans in concert
with AIG. Mr. Baugh had been President and Chief Executive Officer of
Europe since Chartis’ restructuring last year.

Mr. Hancock said, “This simplified structure will permit closer
coordination of the regions with the Commercial and Consumer teams, and
it will allow us to put greater emphasis on growth economy nations by
aligning them under our top regional executives. Profitable growth in
developing countries is an essential component of our strategic plans to
create greater value for all of Chartis’ stakeholders.”

About Chartis

Chartis is a world leading property-casualty and general insurance
organization serving more than 70 million clients around the world. With
one of the industry’s most extensive ranges of products and services,
deep claims expertise and excellent financial strength, Chartis enables
its commercial and personal insurance clients alike to manage virtually
any risk with confidence.

Chartis is the marketing name for the worldwide property-casualty and
general insurance operations of Chartis Inc. For additional information,
please visit our website at
http://www.chartisinsurance.com .
All products are written by insurance company subsidiaries or affiliates
of Chartis Inc. Coverage may not be available in all jurisdictions and
is subject to actual policy language. Non-insurance products and
services may be provided by independent third parties. Certain coverage
may be provided by a surplus lines insurer. Surplus lines insurers do
not generally participate in state guaranty funds and insureds are
therefore not protected by such funds.

About AIG

American International Group, Inc. (AIG) is a leading international
insurance organization serving customers in more than 130 countries. AIG
companies serve commercial, institutional, and individual customers
through one of the most extensive worldwide property-casualty networks
of any insurer. In addition, AIG companies are leading providers of life
insurance and retirement services in the United States. AIG common stock
is listed on the New York Stock Exchange and the Tokyo Stock Exchange.

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SOURCE: Chartis

Chartis
Marie Ali, 212-458-2536

Copyright Business Wire 2012

Categories: Commercial
Tags: Commercial