Zurich Insurance Group has found a successor for Chairman Tom de Swaan, who will leave the company next year. The company's choice makes a lot of sense.
The annual general meeting of Zurich Insurance Group on April 4, 2018 will elect the successor of Tom de Swaan, the company’s chairman. De Swaan will leave the insurer after five years as chairman and with 12 years of services as a member of the group board.
Zurich Insurance has already found a successor: the board will present Michel Liès, the former head of Swiss Re, for election to shareholders, it said in a statement today.
Vastly Experienced Insurance Professional
The choice seems natural enough, given Liès’ career which spans four decades in the global insurance and reinsurance business. He spent most of his time at Swiss Re and reached the position of chief executive officer at the world’s second-largest reinsurer. Liès handed over responsibility to Christian Mumenthaler a year ago and he bid farewell to his staff with the following heart-felt and humorous video clip:
The career includes positions held in the life and non-life insurance segments. He also has major experience in developing a business in Europe and South America, Zurich Insurance said in its statement.
Chairman of Global Partnerships
Liès was chairman of Global Partnerships at Swiss Re, which works to identify ways to jointly mitigate and address global risks and increase resilience in cooperation with governments, development agencies and non-governmental organizations.
«This was a rigorous selection process, with high-quality candidates from across the business spectrum, which is evident in the fact that we are able to attract someone of Michel’s talents and experience,» said de Swaan in the statement. «In the fast-changing environment in which we operate, his intellect, deep grounding in insurance and ability to deliver results will reinforce both the board and the business.»
A Business Leader
Liès, 63, is a citizen of Luxembourg. He holds a master’s degree in mathematics from the Federal Institute of Technology in Zurich and has completed the Stanford executive program and the senior executive program at Harvard.
«I have worked extensively with insurance companies and understand the challenging and exciting landscape we are now in,» Liès said. «I am also equally aware of Zurich’s strengths and the opportunities that lie ahead for it and look forward to contributing to it achieving its goals and realizing its full potential as a leader in the sector.»
