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Mike Kerner leaving Zurich for personal reasons

Mike Kerner leaving Zurich for personal reasons

Mike Kerner is stepping down as CEO of general insurance at Zurich Insurance Group Ltd. for personal reasons effective in October and will be succeeded by Kristof Terryn, Zurich said Friday.

Mr. Kerner, who joined Zurich in 1992, will leave the insurer at the end of the year, Zurich said in a statement.

Mr. Terryn, currently CEO of global life, takes over as CEO of general insurance effective Oct. 1 and will continue to run the global life business until a replacement is announced, the company said.

Zurich did not detail the personal reasons causing Mr. Kerner to leave.

Mr. Kerner joined Zurich in 1992 from Continental Insurance Co. and became a member of the group executive committee and CEO of general insurance in September 2012. Prior to his current role, he was CEO for Zurich global corporate in North America.

From 2007 to 2009, Mr. Kerner was global chief underwriting officer for general insurance and head of group strategy in Zurich. From January 2006 to June 2007, he served as the global head of group reinsurance.

“I would like to thank Mike Kerner for his dedication and service to Zurich over the past 23 years,” Zurich CEO Martin Senn said in the statement. “He has served this company well in a number of important senior roles and will be widely missed. I respect his decision to spend more time with his family and wish him all the best for the future.”

Mr. Terryn, who joined Zurich in 2004, has been CEO of global life since August 2013 and a member of Zurich's group executive committee since 2010.

“Kristof Terryn has an impressive track record as a leader. We are very fortunate to have somebody with his expertise, deep industry knowledge and senior leadership experience to take over general insurance,” Mr. Senn said in the statement.