Former Zurich exec Shea to succeed Charman at Sompo
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Sompo International Holdings Ltd. late Monday said James Shea, former commercial CEO of Zurich Insurance Group Ltd., will take over as executive chairman of the insurer and reinsurer from John Charman, who is retiring.
Mr. Shea, who left Zurich in March, will also succeed Mr. Charman as CEO of Sompo’s overseas insurance and reinsurance business, the Bermuda-based company said in a statement. In addition, he will be CEO of Sompo International, a role that was previously held by Mikio Okumura. Mr. Okumura will retain other senior executive roles he holds at Sompo.
Mr. Shea’s appointments are effective Sept. 1, and Mr. Charman will retire at the end of his current contract in April 2022.
Mr. Charman, a long-time insurance and reinsurance executive in London and Bermuda, joined Sompo International’s predecessor company, Endurance Specialty Holdings Ltd., in 2013.
“Having accomplished what we set out to do following the acquisition of Endurance by Sompo in 2017, I believe that the time is now appropriate for me to hand over the reins to Jim and to retire when my current contract expires,” Mr. Charman said in the statement.
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