In connection with its announced realignment plan (see previous article) Zurich Financial Services Group has announced the appointment of Geoff Riddell (48) as CEO of the Global Corporate Customer Business market segment and of Martin South (39) as CEO of the International Businesses market segment with immediate effect.
Riddell became CEO of Zurich’s UK, Irish and Southern African General Insurance businesses in December 2002. He first joined Zurich in May 2000 after an 18-year career with AIG, initially as Managing Director of Zurich Commercial, and then as Managing Director of UK Corporate and Government businesses.
The Global Corporate Customer Business offers coverage for both international and large domestic risks. “This market segment integrates the previous Corporate Customer businesses of Zurich North America, Zurich London, and Continental Europe, which have operated separately in the United States, the United Kingdom, and Continental Europe,” said the bulletin. Zurich plans to “capitalize on the Group’s unique presence on both sides of the Atlantic and on its extensive global network with a service capacity in 128 countries. In 2003, the segment achieved a premium volume of USD 7.0 billion.”
South is the Managing Director of Zurich London. He joined the Zurich Group in 1997 and became CEO of Zurich Specialties in 1999. Prior to joining Zurich, he spent 14 years in the insurance brokerage world, including 12 years with Marsh, part of the Marsh & McLennan Companies.
Zurich’s International Businesses comprise the portfolios in Latin America, Asia Pacific, China, Southern Africa, and other emerging markets. “These well-performing businesses enhance the Group’s global value proposition and provide a key presence in potentially high-growth markets. In 2003, the International Businesses achieved gross written premiums of USD 3.0 billion,” the bulletin concluded.
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