Gary Shaughnessy is
Zurich’s new CEO of Global Life
Global composite insurer Zurich in December 2015 announced the appointment of Gary Shaughnessy as CEO Global Life as well as to the Group Executive Committee. He succeeds Kristof Terryn who was appointed CEO of Zurich General Insurance in October 2015 and still acted as interim CEO for the Global Life unit (see here).
Mr. Shaughnessy has been CEO of Zurich U.K. Life since June 2012; in 2014 he assumed the additional role of U.K. Country Head. Prior to Zurich, Mr. Shaughnessy was a managing director of the U.K. defined contribution and retail business at Fidelity Worldwide Investment ; before, he has held senior roles within the Prudential Group, including the role of U.K. managing director, retail life & pensions and CEO U.K. retail at M&G Investments. Earlier, he held positions in marketing and distribution at AXA, the Automobile Association and the Bank of Scotland. Gary Shaughnessy, who is 49 years old, read Sports Science at John Moores University in Liverpool and is a member of the board of the Association of British Insurers (ABI) and the chairperson of the ABI Protection Committee.
Mr. Shaughnessy’s appointment is a significant milestone in the transition period experienced by Zurich. After the completion of the search for a new CEO following Martin Senn’s resignation – chairman of the board Tom de Swann is the interim CEO -, Zurich’s top management will have been rather thoroughly overhauled. On Zurich’s restructuring, see here.