Zurich North America appoints chief risk officer

Zurich North America has announced the appointment of Ann Chai (pictured above) as chief risk officer.

Chai, formerly head of finance for US middle market at Zurich, succeeds Colleen Zitt, who has been named vice president of end-to-end process controls for Zurich North America’s finance team.

Chaiu will be based in Zurich North America’s headquarters in Schaumburg, Ill. She will report to Peter Giger, Zurich group head of risk.

In her new role, Chai will be responsible for leading the company’s risk function, including:

• Ensuring group-wide governance and risk management responsibilities are met
• Developing and implementing risk policies and monitoring adherence
• Sponsoring projects and programs that aid the delivery of global initiatives
• Accountability for meeting North American regulatory requirements

As chief risk officer, Chai will be a member of Zurich’s global leadership team, the Risk Management Executive Committee and Zurich North America’s Executive Committee.

“With more than 20 years of financial and actuarial experience, and her proven leadership in US middle market, Ann is the ideal person to lead the North America risk function as we work to achieve our mission to embed a disciplined risk culture across the Zurich organization,” Giger said.

Prior to her previous role with US middle market, Chai served as vice president and actuary for Zurich North America’s finance and actuarial team. She joined the company in 2010.

Chai is a fellow of the Casualty Actuarial Society and a board member for Abacus Actuaries.

Last month, Zurich Insurance Group announced the appointment of Claudia Cordioli as chief financial officer, effective in March. In November, the company announced the appointment of Cara Morton as CEO of Zurich Global Ventures, effective in February.

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