Zurich North America CEO steps down, successor named

Zurich North America CEO Mike Foley will retire from Zurich in 2018, after a decade in this role.

He will be succeeded by Kathleen Savio, the current president of Zurich North America's alternative markets unit, who will serve as CEO-designate as of Oct. 1, 2017, before she transitions into her role as CEO on Jan. 1, 2018.

Savio assumed her current position in 2012, and has overseen the integration of Rural Community Insurance Services, a crop insurance provider in the US.

Prior to leading alternative markets, Savio served as chief administrator officer for Zurich North America.

“Mike transformed our US businesses through a series of underwriting, operational and technology initiatives, and leaves behind a proud legacy of accomplishment,” said group CEO Mario Greco. “We are grateful for the tremendous impact he has had on Zurich’s success, and are excited for him as he embarks on his next chapter.”

Greco added: “Kathleen is precisely the type of new-thinking people-focused business leader we need to lead our North American operations in this next phase. She understands what it takes to grow a successful insurance business, has direct experience with various business models, and drives an unrelenting performance culture among her teams. She’ll be a welcome addition to our global executive management team.”

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