The Board of Directors of the International Insurance Society (IIS), at their annual meeting in Madrid, announced the election of Norman R. Sorensen, President – International Asset Management and Accumulation, Principal Financial Group, as the new Chairman.
He succeeds Marsh & McLennan’s President and CEO Brian Duperreault, who served as IIS Chairman for three years.
Principal Financial Group appointed Sorensen as President – International Asset Management and Accumulation – in February 2010. He continues as President and CEO of Principal International, Inc. He is responsible for managing businesses of The Principal(R) outside the United States in the company’s international asset management and accumulation segment.”
Sorensen joined The Principal in 1998. Previously he was a senior executive at American International Group (AIG). Prior to joining AIG, he held a number of senior international marketing and general management positions at American Express Company and Citigroup. Sorensen is a member of the Boards of Directors of Principal Asset Management Company and Principal Insurance Company (Hong Kong), BrasilPrev Seguros & Previdência (Brazil), Principal Vida (Chile), Principal-PNB Asset Management Company (India), Principal International, Inc., (U.S.), and Principal AFORE and Principal Life (Mexico) In addition to serving as IIS Chairman, Mr. Sorensen is also Chairman of the Global & Trade Committee of the Financial Services Roundtable (FSR), Washington, D.C., and a member of the Board of Directors of Sara Lee Corporation (NYSE:SLE), Downers Grove, Illinois.
He is a graduate of the United States Air Force Academy (USAFA) and Columbia University’s Executive Program for International Managers. He is based at the Principal Financial Group home office in Des Moines, Iowa, U.S.A. Principal International, the global arm of the Principal Financial Group, has operations in nine countries and serves over eight million international customers.
IIS President and CEO Michael J. Morrissey welcomed Sorenson’s election, indicating that he “will provide stellar leadership for the IIS,” and would “carry on the tradition of excellence which we enjoyed under the leadership of Brian Duperreault.”
Duperreault commented: “Norman has been intimately engaged with the IIS for many years and his devoted efforts to furthering the mission and cause of the IIS have been instrumental to our development. We are fortunate to have him at the helm of the organization and I am confident in his ability to navigate the IIS towards a new and exciting future.”
Source: International Insurance Society
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