September 20, 2016 / 4:11 PM / 2 years ago

Zurich merges corporate and commercial units, hires AIG's Shea

ZURICH, Sept 20 (Reuters) - Zurich Insurance is combining its corporate and commercial businesses into a single unit under new leadership, part of its streamlining process under new Chief Executive Mario Greco.

James Shea, previously AIG’s president of global financial lines, will head up the newly combined commercial insurance unit, Zurich said.

The group’s board appointed Shea, as well as heads of Latin America and Asia Pacific businesses Claudia Dill and Jack Howell, to the executive committee, effective Oct. 1.

Current global corporate head Thomas Huerlimann will step down from his role, the insurer said, but would continue working on special projects under Greco.

Greco, who joined the group in March, announced the integration of Zurich’s life and general businesses and a new regional structure in June as part of an overhaul to the insurer’s famously complicated structure. His full strategy is set to be unveiled in November. (Reporting by Brenna Hughes Neghaiwi)

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