Mario Greco has pledged to make Zurich Insurance leaner and faster when he took over at the Swiss company earlier this year. After a first changeover at life and general insurance, he now followed 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.
