The FINANCIAL — Zurich Insurance Group (Zurich) on December 14 announced the appointment of Gary Shaughnessy (49, British citizen) to the position of CEO Global Life and a member of the Group Executive Committee, effective January 1, 2016.
He succeeds Kristof Terryn who was appointed CEO General Insurance, effective October 1, 2015, according to Zurich.
Mr. Shaughnessy has been CEO of Zurich UK Life since June 2012. In 2014 he assumed the additional role of Country Head for Zurich in the UK, and he is currently CEO Global Life EMEA ad interim.
“I am delighted to welcome Gary in our Group Executive Committee,” said Zurich’s CEO ad interim Tom de Swaan. “Gary steps up to his new role having made a significant contribution across our UK business. He is a great leader with a wealth of industry experience which makes him perfectly suited for the role. The appointment demonstrates the strength of our internal talent pipeline.”
Mr. de Swaan added: “I would also like to pay tribute to Kristof Terryn, who has overseen both the Global Life and General Insurance businesses over the last few months. He will now concentrate solely on the important task of managing the ongoing recovery in General Insurance.”
Prior to joining Zurich, Mr. Shaughnessy was at Fidelity Worldwide Investment where he was managing director, UK defined contribution and retail business. His previous experience includes nearly a decade in senior roles within the Prudential Group, including the role of UK managing director, retail life & pensions and CEO UK retail at M&G investments. Mr. Shaughnessy’s background is in marketing and distribution with previous roles spanning the broad financial services market at AXA, the Automobile Association and the Bank of Scotland.
Mr. Shaughnessy is a member of the board of the Association of British Insurers (ABI) and is the chairperson of the ABI Protection Committee.