Three firms in the insurance and financial services sectors have announced leadership changes as they continue to respond to changing market conditions and business priorities.
Chubb has appointed Mark Shaw (pictured above, left) as division president of Chubb Workplace Benefits (CWB), effective immediately. He will oversee business operations and report to Rich Williams, president of Combined Insurance, a Chubb company.
Shaw joined Combined in 2022 as regional vice president for the Northeast region and later served as head of sales for CWB. Prior to that, he spent nearly 30 years at Unum in senior roles across sales and management.
“Mark’s strategic insights as head of sales for Chubb Workplace Benefits were instrumental in achieving both record sales and recognition as the nation's fastest-growing large voluntary benefits worksite carrier,” Williams said.
Chubb Workplace Benefits provides voluntary benefits solutions for mid-to-large-sized businesses. Products are underwritten and administered by Combined Insurance.
Lockton has promoted Sarah Downey (pictured above, right) to lead its US Professional and Executive Risk practice. She succeeds Devin Beresheim, who was named US Risk Solutions Leader earlier this year. In her new position, Downey will oversee broking, advisory, and claims services across professional and financial insurance lines, as well as guide growth initiatives within the practice.
“Since joining Lockton, she has consistently advanced our practices and led initiatives that are shaping the future of insurance,” said Beresheim.
Downey brings over 20 years of experience as a broker and attorney, with a focus on financial lines. She previously led operations for Lockton’s professional and executive risk group and served as blockchain advisory leader, where she launched the firm’s digital asset insurance initiative. She also served as US Claims leader and helped develop Lockton’s strategy for complex financial lines claims.
Tim Ryan, Lockton’s US president, said Downey has a strong understanding of client needs and industry developments. “Her leadership will bring value to Lockton and the organizations we serve,” he said.
Lockton’s professional and executive risk group supports clients across industries, offering services related to directors and officers liability, errors and omissions, employment practices liability, and coverage for digital assets.
Prudential Financial has appointed Tom Stoddard as an independent director on its board, effective June 30, 2025. He will serve on the board’s audit and investment committees.
Stoddard has more than three decades of experience in financial services, including roles in insurance, asset management and investment banking. He most recently served as vice chairman of Global Investment Banking at Bank of America, where he focused on expanding the firm’s insurance advisory capabilities. His previous roles including group chief financial officer at Athorda Ltd. and at Aviva plc, where he served on the board from 2014 to 2019.
“Tom brings a valuable perspective to Prudential’s Board through his broad and diverse leadership experience across financial services,” said Sandra Pianalto, chair of the board’s corporate governance and business ethics committee.
