John Sims has resigned as European personal lines manager of Chubb Insurance, after 10 years at the insurer.
The news follows speculation that the insurer is to overhaul its personal lines division in the face of a soft market.
Speaking to Insurance Times, Sims played down the restructure: "We only had a minor restructuring – splitting one of our departments into three."
Sims is the latest in a string of high profile departures from Chubb.
He follows John Taylor, UK and Ireland manager, and Maureen Higdon, London branch manager.
Mark Appleton, manager of UK and Ireland casualty department and risk management operations has also recently left.
However, Sims maintained that the Chubb business remained undiminished: "The business is strong," he said.
"We have helped change the face of the market. The team I leave behind is an immensely strong and talented group, ready and able to take the business to the next level."
Nonetheless, he added: "It is the softest market I have ever known. Competitors are putting out prices that are unsustainable.
"And it will get worse before it gets better."
Moses Ojeisekhoba, international personal lines manager, will assume Sims' responsibilities while a successor is found.