Chubb’s leadership reshuffle follows the departure of former Latin America regional president Federico Spagnoli. Credit: Casimiro PT/Shutterstock.

Insurance company Chubb has expanded its leadership team in Latin America with the appointment of two regional presidents.

Mario Romanelli takes the role of regional president for South America, while Diego Sosa has been named regional president for Northern Latin America.

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They will both report to Paul McNamee, Chubb Group executive vice-president and president of Chubb overseas general.

Romanelli will oversee Chubb’s operations in key South American markets including Argentina, Brazil, Chile, Colombia, Ecuador and Peru, in addition to spearheading the regional office in Miami.

Sosa will continue to head Chubb’s presence in Mexico, the Caribbean, Central America, and the company’s business in Panama and Puerto Rico. These appointments are effective immediately.

The leadership reshuffle follows the departure of Federico Spagnoli, who earlier held the position of regional president for Latin America and is departing Chubb in pursuit of other prospects.

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McNamee said: “I am excited to announce the promotion of two of our most experienced, proven and accomplished leaders to accelerate the success we are experiencing across the region.

“Mario and Diego will empower us to continue advancing the full capabilities of Chubb, providing even greater focus and service quality for our commercial and consumer clients and partners.”

Chubb, which operates in 54 countries and territories worldwide, offers a broad range of services including property and casualty, personal accident and supplemental health insurance, reinsurance and life insurance services.

The company has a workforce of around 40,000 globally.

Recently, Chubb launched a new construction practice for contractors in the UK and Ireland.