CNA chose a former Accenture executive as its latest chief operations officer. Arch Insurance is bringing an ex-AIG executive to run its U.S. property arm. An executive at Willis Re is switching to Guy Carpenter & Co. to head a key division at the company.
CNA named former Accenture executive Michael Costonis as its chief operations officer.
Costonis will report to CNA Chairman and CEO Dino Robusto and lead all information technology, analytics and operations functions across the organization.
Costonis joins CNA after a 26-year career at Accenture, where he was the Global Insurance Industry practice leader. Costonis has worked with more than 50 carriers in 21 countries, across all major segments of property/casualty and life insurance. Among his accomplishments: pioneering a patented analytical method for optimizing claim outcomes, which became the basis for several large claims transformations.
Costonis officially becomes chief operating officer at CNA on Sept. 5, 2018, succeeding Joseph “J.” Merten, who will retire at year-end after 30 years in the insurance and consulting industries.
Arch Insurance hired ex-AIG executive Valerie Turpin as executive vice president and head of U.S. Property.
She succeeds Michael Kmetz, who the company said has taken on a new operational role.
In this position, Turpin will oversee the Excess and Surplus Property and U.S. Retail Property divisions. She reports to Michael Price, EVP and chief underwriting officer of Arch Insurance Group Inc.
Previously, Turpin was at American International Group, where she most recently served as senior vice president, Midwest Property and Special Risks, and managed a substantial book of retail and wholesale business. Before joining AIG, she held a number of senior roles as a risk engineer and underwriter in both the U.S. and European markets.
Guy Carpenter & Company appointed Shaun Sinniah as head of Strategy and Client Engagement for the firm’s International and Global Specialties divisions.
Sinniah, scheduled to start in October and be based in London, will work with heads of business across these divisions to help deliver on strategic priorities and to ensure full delivery of Guy Carpenter products and services to clients. He will report to James Nash, president, International and Kevin Fisher, president, Global Specialties.
Sinniah joins Guy Carpenter from Willis Re, where he was managing director, Sales & Client Management, initially joining the firm in 2012. Before that, he was a consultant at Willis. Prior to this, Sinniah was an associate at Goldman Sachs in Hong Kong, having started at the company in 2005.
Sources: CNA, Arch Insurance, Guy Carpenter & Co.