Chubb Australia has no plans to quit any segment of professional liability, MD Mark Lingafelter has told insuranceNEWS.com.au.

He was responding after comments from Chubb Corp CEO John Finnegan at the insurer’s results announcement that it is culling some professional liability business.

Mr Lingafelter says decisions have been based on individual merit, “although we have exited a few small industry sub-segments in the US and Europe due to our inability to earn an adequate return now or in the near term”.

He says Chubb continues to add new products and services in the segment.

“We like the professional liability business and we are committed to remaining a major player in these lines,” he said. “I can confirm that we have no plans to exit any segment of the professional liability lines market in Australia.”