Chubb Life Announces Gail Costa Will Lead Newly Acquired Life Insurance Operations of Cigna in New Zealand
HONG KONG, July 3, 2022 /PRNewswire/ — Chubb Life today announced that Gail Costa will lead the company’s life insurance operations in New Zealand that were recently acquired from Cigna. Ms. Costa, who is currently Chief Executive Officer of Cigna Life New Zealand, will continue to have executive operating responsibility for the business, which will operate under the Chubb Life brand in New Zealand.
On July 1Chubb, the world’s largest publicly traded property and casualty insurer, completed its acquisition of the life and non-life insurance companies that house the personal accident, supplemental health and life insurance business of Cigna in six Asia-Pacific markets, 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 already sizable accident and health (A&H) business while expanding the company’s Asia -based life insurance presence.
Ms. Costa will, in addition to the local Board, report to Brad BennettSenior Vice President, Chubb Group and Chief Operating Officer, Chubb Life.
“Gail is an experienced insurance executive who has led businesses for Cigna in multiple countries, including New Zealandwhere she’s been managing the operation through a period of growth and change since 2018,” said Mr. Bennett. “She’s a strong leader with deep expertise across finance, operations and marketing. New Zealand is a new market for Chubb Life, and we’re fortunate to have Gail in this position. I look forward to working with her and welcome all of our new colleagues from Cigna at this exciting moment for our business in New Zealand and across Asia-Pacific.”
Ms. Costa has more than 40 years of