Endurance Specialty Holdings Ltd has hired a former Chubb executive to head its new Global Risk Solutions business.

Michael Chang is set to join the Bermudian insurer and reinsurer on February 22 as chief executive officer of the new business. He will be based in New York.

As CEO of Global Risk Solutions, Mr Chang will be responsible for “building a platform targeting global industry vertical solutions for large account risk-management clients”, Endurance said in a statement. He will report to Jack Kuhn, chief executive officer, Global Insurance.

Mr Chang was most recently executive vice-president of Chubb’s Real Estate and Hospitality Practice. He began his career at Chubb as a surety trainee in 1997 and, since 2000, he has served in various management capacities in Chubb’s New York Brokerage Zone, Department of Financial Institutions operation.

In 2005, he was promoted to build and lead the then newly formed Global Real Estate Practice of Chubb Specialty Insurance.

Before joining Chubb, Mr Chang was a financial analyst for the Melville Corporation in Mahwah, New Jersey, after his graduation from the University of Pennsylvania (Wharton Undergraduate Division) with a Bachelor of Science degree in Economics.

Mr. Kuhn said: “I am delighted to announce the formation of this new business and that Michael has decided to join our team to lead this strategic business initiative.

Michael is a talented and innovative leader with a reputation for driving profitable growth and is known for his ability to build and motivate high-performing teams.”