27 North American Insurance Chief Risk Officers Form Council
Chief risk officers from some of the largest life and P&C insurers, including AIG, Allstate, Chubb and MassMutual, lay the foundation for the newly formed North American CRO Council. Chief risk officers (CROs) from some of the largest life and P&C insurers in North America are the first to join a new association formed to develop and promote leading practices in risk management throughout the insurance industry. Like what you see? Click here to sign up for Insurance Networking News weekly newsletter to get the latest on breaking industry news, carrier technology implementations and developing business and technology trends.
The North American CRO Council, comprised of CROs from leading insurers headquartered in the United States, Bermuda and Canada, has established an agenda that includes participating in global developments associated with the harmonization of regulatory capital requirements across jurisdictions, providing guidance to North American regulatory bodies on effective methods for evaluating risk management and solvency monitoring standards, promoting the development and assessment of capital requirements leveraging company-developed risk models, and producing industry-leading research on emerging risks.
Founding members include CROs from the following companies: ACE Group, American International Group, Chubb Group of Insurance Companies, CNA Financial Corporation, Genworth Financial, Great-West Lifeco Inc., Lincoln Financial Group, Manulife Financial Corporation, MassMutual Financial Group, Nationwide Mutual Insurance Company, New York Life Insurance Company, Northwestern Mutual Life Insurance Company, Pacific Life Insurance Company, Principal Financial Group, Prudential Financial Inc., Reinsurance Group of America Incorporated, State Farm Mutual Automobile Insurance Company, The Allstate Corporation, The Guardian Life Insurance Company of America, The Hartford Financial Services Group Inc., The Progressive Corporation, TIAA-CREF, United Services Automobile Association, Unum Group and XL Group plc. Two insurers requested to remain anonymous.