Zurich reveals new appointments to board of directors

Former APRA executive board member tapped as chair

Zurich reveals new appointments to board of directors

Insurance News

By Mika Pangilinan

Zurich Financial Services Australia has made changes to its board of directors, appointing Geoff Summerhayes as chair.

Summerhayes, whose appointment was effective January 1, is an established name in the insurance, financial services and regulatory landscape, having served as executive board member of the Australian Prudential Regulation Authority (APRA). He was also CEO of Suncorp Life, regional general manager at National Australia Bank (NAB) and CEO of MLC Superannuation and Investments.

 “Zurich occupies a unique position as a composite – life and general – insurer and my focus as chair will be to continue to work with our executive team, led by chief executive Justin Delaney, as we evolve Zurich's proposition and operations for the benefit of our customers and employees,” said Summerhayes.

Summerhayes is also set to chair Zurich’s other related corporate entities and has previously served as an independent non-executive director on each of these boards since January of the past year.

“I am particularly proud of Zurich's commitment, both globally and locally, to achieving critical sustainability outcomes and I look forward to supporting the delivery of this agenda,” he added.

In addition to Summerhayes’ appointment, former IAG Australia chief executive Noel Condon and audit, risk and consulting expert Mary Waldron were also appointed as independent non-executive directors of Zurich and its other related corporate entities.

The announcement from Zurich further revealed Nicolette Rubinsztein’s appointment as an independent non-executive director of Zurich Australian Insurance Limited (ZAIL) on top of her existing directorships of other Zurich corporate entities.

News of Zurich’s latest appointments follows the resignations of former chair Paul Bedbrook and non-executive director Elaine Collins, effective December 31.

The appointees are all set to join existing independent non-executive director John Mulcahy as they assume their new positions on the Zurich board.

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