Chubb, the world’s largest publicly traded property and casualty insurance company, launched a new Global Climate Business Unit to serve businesses focused on new technologies and processes that help reduce the dependence on carbon.
In a Jan. 4 announcement, the Whitehouse Station-headquartered company said the new unit will also provide risk management and resiliency services to help companies managing the impact of climate change.
Chubb estimated these businesses generated more than $675 million in premium revenue for the company in 2022.
“After many months of thoughtful deliberation, today we are announcing an expanded commitment to support the transition toward net zero in response to rising climate challenges,” Chubb Chairman and CEO Evan Greenberg said in a statement.
Greenberg added that the company will soon add more services to support customers that are looking “to become more carbon neutral and resilient from the threat of a changing climate.”

McMullin

Hardy
Matthew McMullin, based in Whitehouse Station, has been named North America leader of the Chubb Global Climate Practice. Matthew Hardy, based in London, will serve as Chubb Overseas General leader, representing all markets outside the U.S., Canada and Bermuda.
“In addition to already underwriting one-third of the Global CleanTech 100 companies, we’ve been writing renewable and alternative energy businesses for more than 20 years, keeping pace with rapidly evolving technologies over that time,” McMullin said in a statement.
McMullin, who joined Chubb in 2008, will take on the new role in addition to his position as energy industry practice leader for North America. He previously worked in the Global Casualty division before joining the Commercial Insurance Energy Industry Practice in June 2021.
Hardy joined Chubb in 1996 and has held several leadership positions with Chubb Overseas General, including executive vice president, Energy.
The two leaders will work with Chubb’s new Global Climate officer, Margaret Peloso, who will join the company from Vinson & Elkins, where she served as the law firm’s lead sustainability partner.
More Chubb executive moves
- Chubb promotes Black to EVP, COO of North America Surety
- Chubb appoints Krishnan COO for subsidiary ESIS
- Chubb’s COO of Canadian operations to ascend to presidential post