Zurich Insurance Combines Corporate and Commercial Units

Mario Greco, CEO Zurich

Mario Greco, CEO Zurich

After a first changeover at life and general insurance, Zurich Insurance CEO Mario Greco now follows up with a new structure for the corporate and commercial insurance businesses.

Closer to the customer, faster, leaner: the vision of Mario Greco for Zurich Insurance is taking shape and has already influenced the set-up of the company. Switzerland's biggest insurer is combining the corporate and commercial insurance business and has hired James Shea from AIG to head the new commercial insurance unit, the company said in a statement today.

«Combining our corporate and commercial businesses will allow us to better utilize our skills, systems and capabilities in the individual countries and across the world, and to unite our customer interaction and go-to-market approach worldwide,» Greco was cited as saying in the press release.

Huerlimann to Resign, but Remain at Zurich

Shea, a 50-year-old citizen of Canada, was president of global financial lines at the U.S.-based insurer. He has two decades of experience in the industry.

Thomas Huerlimann meanwhile, who was CEO of global corporate at Zurich for the past five years, has decided to step down from the position. He will however stay on at Zurich Insurance, working on special projects reporting to Greco.

Executive Committee Nominations

Apart from Shea, Zurich Insurance also appointed Claudia Dill, CEO Latin America, and Jack Howell, CEO Asia Pacific, as members of the executive committee. The new appointments are taking effect on October 1. The new executive management team is now complete, Greco said.

 

Compare my salary

Compare my salary

Feeling Underpaid? Benchmark your salary by job title, company and location. Find out where you stand in minutes.

compare my salary

Newsletter

Newsletter-SymbolFree Subscription

Subscribe to our free newsletter and receive daily email alerts from the finews editorial team with a list of the top featured articles.

Share with us

Do you have any market intelligence to share with finews.asia – email us on info@finews.asia – All communication is completely confidential and strictly anonymous.