Zurich Insurance Group announced that the Board of Directors will propose the election of a new Chairman at the Annual General Meeting to be held in April next year.
Upon his election, Michel Liès would succeed Tom de Swaan who has been a member of Zurich’s board since 2006 and Chairman since 2013, the insurance giant said in a press release.
Liès has been active in global insurance and reinsurance for almost 40 years culminating in four years as Group CEO of Swiss Re, a position he held until June 2016.
Rigorous Selection Process
His career has spanned both the life and non-life segments and has included significant periods with responsibility for growing businesses across Europe and in South America.
«On behalf of the Board, I look forward to welcoming Michel to Zurich. 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.
Growth by Acquisition
Zurich remains in serious contention to pick up ANZ's life insurance operations and funds management arm along with AIA and Metlife. The price tag for the deal is expected to be in the region of $3 billion.
In May this year Zurich and Standard Chartered Bank signed an exclusive decade long strategic partnership to offer life insurance.
As part of the agreement, Standard Chartered (SCB) will offer Zurich’s comprehensive life insurance policies to its customers in the United Arab Emirates (UAE) for the next 10 years.
