The CEO of Zurich Insurance’s UK General Insurance business is departing, and the insurer has already named a replacement as it proceeds with a reorganization.
Vibhu Sharma, who spoke at a FT life meeting at the end of June, gave no indication of his impending departure. Zurich said that Sharma, who is the UK Country head, had “decided to leave Zurich to continue his career outside the group. Before his current UK role, Sharma held positions with Zurich as chief financial officer in North America, group financial controller, as well as interim group chief financial officer.
At the same time, Zurich announced that Conor Brennan has been appointed as Sharma’s replacement, and will take up this role from the end of July. Brennan and newly appointed head of Zurich’s UK Life business Anne Torry, will report to Gary Shaughnessy who takes on the role of interim CEO for the combined UK Life and General Insurance businesses in addition to being CEO EMEA.
An external recruitment search is now taking place to fill the UK role.
These changes follow an announcement last month that Zurich is bringing its Life and General Insurance businesses together under common leadership within all the countries or territories in which it operates. This new, more streamlined structure will reduce complexity within the global insurer and make sure that distributors and customers can work with the organization more easily now and in the future, the company said
Brennan has been with Zurich since 2008, and is currently CEO of the Group’s GI business in Ireland. The respective leaders of UKGI’s customer-facing divisions will report to Brennan. Zurich’s Global Corporate business in the UK will continue to be led by Vinicio Cellerini.
Shaughnessy noted in prepared remarks that “This new structure will make it easier for our partners and customers to do business with us.” He also thanked Sharma “for all he has achieved in his various roles at Zurich.”
Source: Zurich Insurance