Major insurer announces chairman change

Major insurer announces chairman change | Insurance Business

Major insurer announces chairman change
Zurich has announced that chairman Terry Paradine is to retire from his position.

Paradine will be replaced by non-executive board director of Zurich Paul Bedbrook who has been with the company since 2012.

Bedbrook has more than 30 years experience in the financial services sector; including senior leadership positions with ING and also holds board positions with Elanor Investors Group and Credit Union Australia.

Zurich Country Head and CEO of the General Insurance business, Daniel Fogarty, thanked Paradine for his seven years of services as chairman and four previous years as a board member for the company.
 
“I’d like to thank Terry Paradine for the significant contribution he has made to the insurance industry over the last 50 years as well as the wealth of broking and underwriting experience he brought to Zurich over the past eleven years.”
 
Paradine held numerous positions at Marsh throughout his career rising to become chairman of Marsh’s Asia Pacific operations before he joined Zurich.
 
“The insurance sector has certainly experienced some challenges and changes during Terry’s Board tenure and he has played a key role in helping steer Zurich through these times. He leaves Zurich in a very good position with a strong balance sheet and robust governance culture.”
 
Fogarty also added his welcome to Bedbrook who will take the position officially on 31 March.
 
“It is an exciting time for Paul to be taking over the role of Chairman and I am looking forward to working with him in this position.”