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Zurich Insurance Group Ltd.’s CEO of commercial insurance James Shea has left the company and will be replaced by group chief underwriting officer Sierra Signorelli.
Mr. Shea has chosen to leave Zurich to “pursue opportunities outside the company,” a Zurich statement said.
Ms. Signorelli becomes CEO of commercial and a member of Zurich’s executive committee with immediate effect, the statement said. Her successor as chief underwriting officer has not yet been announced.
Mr. Shea joined Zurich from American International Group Inc. in 2016 when the group combined its corporate and commercial operations into a single business.
Mr. Shea “has repositioned commercial insurance to achieve sustained profitability and to meet our large corporate customers’ evolving and complex needs. I wish Jim all the success in his future endeavors,” Mario Greco, CEO of Zurich said in the statement.
Ms. Signorelli joined Zurich from AIG in 2017, where she held senior positions in the United States, Asia and Switzerland. She was named group chief underwriting officer last year.
Ms. Signorelli was named one of the Business Insurance Women to Watch in 2019.
Commercial Risk Europe is a sister publication of Business Insurance. More stories from CRE here.