Chubb buys Executive Risk (1999)
Chubb acquired Executive Risk, the directors-and-officers insurer Sills founded in 1987. Sills then spent two years as a Chubb executive vice president.
Executive Risk's specialty book folded into a much larger carrier, and Sills stayed on briefly.
It set the pattern of a big diversified insurer absorbing a nimble specialist to buy expertise it lacked.
American Family is doing the same thing: a large personal-lines insurer buying niche liability know-how rather than building it slowly from scratch.
