Zurich Australia & New Zealand (Zurich) has strengthened its suite of boards by bringing in industry leader Geoff Summerhayes, commencing immediately.
Summerhayes is a former financial services CEO, director, and Australian Prudential Regulation Authority (APRA) executive board member, where he championed significant organisational transformation across the regulator’s strategy, leadership capability, diversity, and culture during his five-year tenure.
Over the years, he has led significant regulatory change in Australia and globally, raising awareness of climate change financial risk. His chairperson and leadership roles include the Council of Financial Regulators Working Group on Climate Change, a global body of insurance regulators collaborating on sustainability and climate change.
Before joining APRA’s board, Summerhayes was the CEO of Suncorp Life, CEO superannuation and investment at MLC, and held several senior executive roles at National Australia Bank (NAB).
Now, Summerhayes has joined five of Zurich’s main APRA-regulated boards as an independent non-executive director and member of Risk, Compliance, and Audit Committee, including:
- Zurich Financial Services Australia Limited (ZFSA), where he also serves as a member of its People and Remuneration Committee;
- Zurich Australia Limited (ZAL);
- Zurich Australian Insurance Limited (ZAIL);
- OnePath Life Limited (OPL); and
- OnePath General Insurance Pty Limited (OPGI).
Summerhayes has also joined Zurich Investment Management Limited’s (ZIM) board as an independent non-executive director.
Paul Bedbrook, chair of Zurich’s boards, highlighted Summerhayes’ extensive experience and expertise in commercial and regulatory matters, making him a valuable appointment to the company’s boards.
“Along with his deep knowledge of the industry, Geoff’s experience also complements the diverse capabilities of our board members, and we welcome and look forward to his contribution,” Bedbrook continued.
Justin Delaney, CEO of Zurich Australia and New Zealand, added: “We are very fortunate to have such a high calibre addition to our boards. Geoff’s appointment reflects the commitment we have at Zurich to strengthen our position in the market by bringing unique leadership to our strategy, governance, and culture.”