Zurich Financial Services Ltd. is replacing its four general insurance divisions with six “market-facing businesses” and has named the executives who will lead those operations, the Zurich-based insurer said last Thursday.
Global Corporate, one of the original divisions, will carry on as one of the new operations, and Mario Vitale will continue in his role as CEO of that unit.
Mike Foley will continue to lead the North America Commercial operation, which also existed as a general insurance division.
Zurich’s new Europe operation within the general insurance segment will be headed by CEO Patrick Manley, who is CEO of Zurich’s Ireland operations. Mr. Manley’s new role is effective Jan. 1, 2011. The Europe business previously was known as Europe General Insurance.
Peter Rebrin is CEO of Latin America, a unit that previously was part of Zurich’s International Markets operations. He has served as CEO of the insurer’s Latin American operations since October 2009.
Asia-Pacific, also a former unit of the International Markets operation, will be headed by CEO Johnny Chen, who has been CEO of Greater China for Zurich since 2005.
Middle East and Africa will be led by CEO Saad Mered, who has served as CEO of the insurer’s Middle East unit within the International Markets operations since January 2009.