The Insurance Industry Charitable Foundation (IICF) has named John Vasturia, president of Specialty Markets for Munich Reinsurance America Inc., as chairman for IICF’s board of governors. Vasturia has been a member of the board for three years.
The IICF, which is funded by the insurance industry, has contributed $25.3 million in grants to charities and 218,722 volunteer hours to hundreds of community nonprofit organizations since its inception in 1994.
The board is comprised of 21 senior insurance industry executives from the United States and London. In his role as chairman, Vasturia will oversee the board’s work to establish a strategy throughout the IICF’s international operations, which include four regional divisions in the U.S. as well as the organization’s London division, which IICF launched in 2015.
“IICF’s Mission exemplifies the tremendous opportunity we have to help communities and enrich lives by combining the collective strengths of our industry,” Vasturia said. “Together, we can make a bigger and more positive impact by being strategic and collaborative in our efforts to help others.”
Currently serving as president of Munich Re’s Specialty Markets, Vasturia is also a member of the company’s U.S. P&C Executive Board. He has been with Munich Re since 1989 and has held several roles within the organization, including head of New Strategic Markets and president of Regional Clients Underwriting. He began his insurance career with Chubb Group in 1984.
Vasturia succeeds Gary Petrosino, executive vice president and Western U.S. Territory field officer, Chubb & Son, who has served as chairman since January 2014.