This week has already been an eventful one for senior leadership moves and today Zurich Insurance Group (Zurich) has revealed that Sierra Signorelli has been appointed both CEO for commercial insurance and as a member of the executive committee with immediate effect. The new appointment to the executive committee is subject to regulatory approval and her successor to her current role as group chief underwriting officer (CUO) will be announced in due course.
Signorelli succeeds James Shea, who has decided to leave Zurich to pursue opportunities outside the company. She first joined Zurich in July 2017 and has held several senior leadership positions in the insurance industry in the United States, Asia and Switzerland. In her role as group CUO, Zurich highlighted that she transformed its underwriting function, strengthened its resilience, and enabled the delivery of differentiated services and solutions to customers.
Commenting on Signorelli’s appointment, Mario Greco, group CEO, noted Signorelli’s experience and knowledge of the insurance industry and that she is a “proven and passionate” people leader. He said her skillset, understanding of Zurich’s business and culture, and strong customer focus made her the perfect fit for the role and that he is confident she will continue to advance the insurer’s commercial insurance capabilities.
“I want to thank Jim for his dedication to Zurich and excellent contributions to our business,” Greco continued. “He has repositioned commercial insurance to achieve sustained profitability and to meet our large corporate customers’ evolving and complex needs. I wish Jim all the success for his future endeavours.”
Shea joined Zurich in September 2016 when the group combined its corporate and commercial businesses into a single global business unit. In a Press release, Zurich emphasized how his leadership allowed the business to regain its position as an industry-leading commercial insurer through a focus on underwriting discipline, and investment in skills, tools and capabilities.