Zurich Insurance Group A.G. has named Saad Mered to be CEO and chief agent of Zurich Canada, effective Oct. 1, the insurer said in a statement Tuesday.
In his new role, Mr. Mered will report to Zurich North America CEO Kathleen Savio, the statement said. He will be based in Toronto, according to a spokeswoman for the company.
Mr. Mered is now chief claims officer for Zurich Insurance Group and will succeed David Levinson as chief agent, the statement said. Mr. Levinson, who also served as president of Zurich Canada, will be returning to the United States to explore other opportunities at Zurich.
Mr. Mered joined Zurich in 2008 as CEO for Zurich Middle East and became chief claims officer for the Zurich Group in 2014, the statement said.
“Saad’s knowledge of Zurich and our people, his proven ability to foster valuable relationships with customers and brokers, and his drive for innovation and execution will continue to position our important Canadian business to deliver top-tier performance,” Ms. Savio said in the statement.
Mario Greco, chief executive of Zurich Insurance Group A.G., said that the insurer wants to do only targeted mergers and acquisitions and sees no need for sweeping consolidation in Europe, Reuters reported citing Bloomberg. Mr. Greco's remarks come amid speculation that Zurich Insurance and Germany-based Allianz S.E. could be interested in a tie-up. Mr. Greco said that Zurich Insurance is interested in M&As to strengthen its operations within a country.