The FINANCIAL — Zurich Insurance Group (Zurich) announced on December 18 that the Board of Directors will propose to shareholders to elect Jeffrey L. Hayman and David Nish to the Board for a term of office of one year each. The election will take place at the Annual General Meeting on March 30, 2016.
Tom de Swaan, Chairman of the Board of Directors and Chief Executive Officer a.i. of Zurich, said: “We are delighted that Jeffrey L. Hayman and David Nish have accepted our nomination to join the Zurich Board. Thanks to their profound knowledge of the insurance industry and their experience in two of the most important markets globally, they would ideally complement our Board.”
As already announced last year, after 10 years on the Zurich board Don Nicolaisen will not stand for re-election at the Annual General Meeting 2016. The same applies to Thomas K. Escher, who will have served the maximum tenure of office of 12 years, according to Zurich.
Tom de Swaan, said: “On behalf of the board and all shareholders, I would like to thank Don and Thomas for their many years of outstanding service and commitment to Zurich, in particular as chairs of the Audit Committee and the Remuneration Committee.”
Biographical information Jeffrey L. Hayman
Jeffrey L. Hayman (55, U.S. citizen) is an independent consultant and advisor.
Mr. Hayman began his career as a claims representative in the property and casualty department of Travelers Companies in the U.S. in 1983. In the following years he held various roles among others as Regional Financial Officer, Personal Lines Field Operations, Vice President, Product and Marketing, Vice President, Product Management and CFO at the non-standard auto division. In 1998 he joined AIG as Regional Vice President, Personal Lines at AIU Far East in Japan. Beginning in 2003 he held various leadership positions in Japan and Korea among others as Chairman of AIU Insurance Company in Japan and President and CEO of AIU Far East Holdings, Japan and Korea. In 2009 he returned to the U.S. and became President, International Consumer Lines at AIG’s property and casualty division. From 2009 to 2011, Mr. Hayman was Senior Vice President and Chief Administrative Officer, and from 2011 to 2013 Executive Vice President and CEO, Global Consumer Insurance at AIG. Then he was President International Insurance at Starr Companies. Since 2013 he has been an independent consultant and advisor.
Mr. Hayman holds an MBA in Finance from the University of Hartford, Barney School of Business and Public Administration, West Hartford, USA, and a Bachelor of Arts, Economics and Political Science of the Saint Olaf College, Northfield, U.S. He is a Chartered Life Underwriter and a Chartered Financial Consultant.
Biographical information about David Nish
David Nish (55, British citizen) is a non-executive director of London Stock Exchange Group plc, Vodafone Group plc (from January 2016) and the UK Green Investment Bank plc, a company wholly owned by the UK Government, where he chairs the audit committee. He is also a member of the Council of the Institute of Chartered Accountants of Scotland.
Mr. Nish started his professional career in 1981 as a trainee at Price Waterhouse in the UK, and from 1993 to 1997 was an audit and transaction partner with Price Waterhouse. In 1997, he joined the energy generation, supply and distribution group Scottish Power plc as Deputy Finance Director. Two years later, in 1999, he was promoted to Group Finance Director, a role he held until 2005 when he was appointed Executive Director responsible for the Infrastructure Division operating its regulated transmission and distribution business. In 2006, Mr. Nish became Group Finance Director at global investment management and life insurance group Standard Life plc. In 2010, he was promoted to Group Chief Executive Officer of Standard Life plc, a role he held until 2015.
Mr. Nish has previously been a non-executive director of HDFC Life (India), a leading savings and life insurance business in India, Northern Foods plc, Thus plc, and Royal Scottish National Orchestra. He was also Deputy Chairman of the Association of British Insurers, a member of the City UK Board Advisory Committee and a member of the Financial Services Advisory Board of the Scottish Government.
Mr. Nish holds a BA in accountancy from the University of Glasgow and is a Chartered Accountant with the Scottish Institute.
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