Zurich Insurance Group Ltd. on Monday said it has appointed Gary Shaughnessy CEO of its global life business and a member of its group executive committee, effective Jan. 1.
Mr. Shaughnessy — currently CEO of Zurich U.K. Life, country head for Zurich in the United Kingdom and interim CEO for Zurich's global life business in the Europe, Middle East and Africa region — will succeed Kristof Terryn, who was appointed CEO of Zurich Insurance's general insurance operations in October.
“Gary steps up to his new role having made a significant contribution across our U.K. business,” said Tom de Swaan, Zurich Insurance's interim CEO.
“He is a great leader with a wealth of industry experience, which makes him perfectly suited for the role,” he added.
Zurich Insurance Group Ltd. is looking outside the company for someone with extensive industry knowledge to succeed CEO Martin Senn, who resigned last week amid intensifying financial pressures at the insurer.