Financial Lines Strategy to Shift in CEMENA Under New Head
Clients and brokers should expect updated underwriting strategies as Chubb moves to centralize regional oversight in Madrid.
Updated on Oct. 29, 2026 in People
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Chubb has appointed industry veteran Lucas Scortecci as the new Head of Financial Lines for the CEMENA region, effective December 10, 2026. This leadership change marks a strategic move to focus on underwriting and profitable growth across Continental Europe, the Middle East, and North Africa.
Why it matters
For operators across the region, this appointment signals a potential shift in underwriting strategy for financial lines products as the firm aims to expand its capabilities. Understanding how new leadership reconfigures risk appetite and service delivery is essential for businesses currently managing or negotiating these coverage portfolios.
Lucas Scortecci brings two decades of total industry experience to the role, following a nearly 20-year tenure at AIG. The appointment covers the broad CEMENA region, where Scortecci will steer the financial lines underwriting strategy from his base in Madrid.
The players
Chubb
A global property and casualty insurance company providing commercial and personal lines coverage.
Lucas Scortecci
The incoming Head of Financial Lines for CEMENA with two decades of industry experience and a long-term background at AIG.
The details
As Head of Financial Lines for CEMENA, Scortecci is charged with executing underwriting strategies aimed at driving profitable growth across the firm's financial products portfolio. His role involves overseeing the regional product line, a move that typically dictates how insurers assess risk for corporate clients and how brokers interact with underwriting teams during contract negotiations.
Timeline
The appointment becomes effective on 10 December 2026.
Market Landscape
This appointment follows the established industry trend of prioritizing regional autonomy to improve underwriting precision in diverse markets. It reflects a broader institutional push to align management with specific regional risk profiles rather than relying on centralized global oversight.
Operators currently holding or seeking financial lines coverage in the CEMENA region should prepare for potential adjustments in underwriting criteria. Review existing policy renewals and broker relationships before the December 10, 2026, transition to understand how this leadership shift may impact future premiums.
The takeaway
Leadership changes at major carriers like Chubb often precede shifts in risk assessment and capacity allocation. Operators should monitor the market for new product guidelines or changes in underwriting standards that may follow Scortecci's integration into the regional role.
Further reading
For broader trends in industry leadership and structural shifts, see the People section.
Source note: This article includes information reported by ReinsuranceNe.
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