Zurich restructures APAC commercial insurance; names new heads

Zurich Insurance Group has integrated two of its commercial insurance units into a single division in the Asia Pacific (APAC) region and appointed division heads.

The company has combined its global corporate and commercial units to provide a single point of entry for commercial customers.

Zurich APAC CEO Jack Howell, said: "This simpler structure provides our customers with a streamlined, tailored offering and brings the clarity of focus needed to target Zurich's global resources at the most important opportunities in Asia Pacific. I am confident we have the best talent and the right strategy in place to strengthen our regional business and to capitalize on the growth potential in the region."

The new commercial insurance business in APAC will be headed by Chris Waterman, who joined Zurich as chief underwriting officer (CUO), commercial for the region in 2016. He will report to Howell, and to CEO of Zurich's global commercial insurance business Jim Shea.

Waterman said: "We are changing our go-to-market approach so we can provide customers and brokers with one single channel to access the tailored insurance and protection solutions they are looking for. With this new structure, we are also empowering each country with the authority and agility they need to make even faster decisions in response to their customer conversations."

Waterman joined Zurich from AIG in 2016, where he held various leadership roles since 2001, most recently as the senior vice president and head of property and energy, Japan.

The company has also appointed three defined leaders for casualty, specialty and property lines in the region who will be responsible for driving results in partnership with the country heads of commercial.

In addition to his role as head of commercial lines APAC, Waterman will also take on the position of head of property.

Penny Seach has been appointed as head of casualty APAC. She joins Zurich from AIG, where she most recently served as the regional head of casualty and crisis management.

Alex Morgan, currently the CUO commercial Japan, will take on the role of head of specialty APAC and will be based in Singapore.

The trio will be supported by Geoff Gillmore as the deputy head for property; Echo Chen as casualty deputy head in Singapore; and Tim Warren, currently the head of credit and political risk, as the deputy head of specialty.

In Singapore, Reg Peacock, currently the head of commercial Japan, will be appointed as the CEO of Zurich's business in Singapore. Peacock will continue to lead Japan commercial until his appointment as Singapore CEO receives regulatory approval, at which time Kazuhisa Otani, currently vice president distribution for Japan commercial, will assume leadership of the Japan commercial team.

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