Michel M. Lies to succeed Tom de Swaan as Zurich Insurance Group's Chairman in 2018

Zurich Insurance Group announced the Board of Directors will propose the election of Michel M. Lies as Chairman at the Annual General Meeting (AGM) to be held April 4, 2018.

Upon his election, he would succeed Tom de Swaan who has been a member of Zurich's board since 2006 and Chairman since 2013.

Mr. Lies has been active in global insurance and reinsurance for almost 40 years culminating in four years as Group CEO of Swiss Re, a position he held until June 2016. His career has spanned both the life and non-life segments and has included significant periods with responsibility for growing businesses across Europe and in South America. In addition to his extensive network within the insurance sector, Mr. Lies was Chairman of Global Partnerships at Swiss Re which works with governments, international development bodies and NGOs to identify ways to jointly mitigate and address global risks and increase resilience.

Tom de Swaan, Chairman of the Board and of the Governance, Nominations & Corporate Responsibility Committee, said: "On behalf of the Board, I look forward to welcoming Michel to Zurich. This was a rigorous selection process, with high-quality candidates from across the business spectrum, which is evident in the fact that we are able to attract someone of Michel's talents and experience."

"He brings a wealth of skill and insight gained from a very successful career in our sector, which, combined with his experience at the helm of an important Swiss company, make him the ideal next Chairman. In the fast-changing environment in which we operate, his intellect, deep grounding in insurance and ability to deliver results will reinforce both the Board and the business. I look forward to a smooth transition as we prepare for his election at the 2018 AGM."

Michel M. Lies said: "I am delighted to be joining Zurich, a business I have held in high regard for many years. I have worked extensively with insurance companies and understand the challenging and exciting landscape we are now in. I am also equally aware of Zurich's strengths and the opportunities that lie ahead for it and look forward to contributing to it achieving its goals and realizing its full potential as a leader in the sector."

Biography - Michel M. Lies (1954, Luxembourg) has worked in both the life and non-life sectors of the insurance industry over the past four decades. He joined Swiss Re in 1978, initially working in the life market in Latin America before moving to Europe in 1983, and went on to hold a number of senior positions. In 1994, he moved into the non-life sector, with responsibility for southern Europe and Latin America. He was appointed Head of the Europe Division of the Property & Casualty Business Group in 2000. In 2005, he assumed the position of Head Client Markets and was appointed member of the Group Executive Committee. From October 2010 until his appointment as Group Chief Executive Officer in February 2012, Mr. Lies served as the reinsurer's Chairman of Global Partnerships. He served as the Group Chief Executive Officer of Swiss Re until his retirement in 2016.

Mr. Lies has held a number of external board appointments, including serving as the Chairman of the Global Reinsurance Forum, a board member of the Geneva Association, a member of Insurance Europe's Reinsurance Advisory Board, a member of the Board of Directors of the Swiss American Chamber of Commerce, a voting member of the Conference Board and a board member of the Society for the Promotion of the Institute of Insurance Economics at St. Gallen University.

Mr. Lies holds a Master's degree in Mathematics from the Federal Institute of Technology in Zurich and has completed the Stanford Executive Program and the Senior Executive Program at Harvard.

Related articles

Reputation of travel insurers affected by flight operators

The travel insurance industry has perennially suffered from a lack of customer awareness around policy terms, and is currently facing issues surrounding customer satisfaction, according to the research and consulting firm GlobalData.

2017-11-15
photodune-3834701-laughing-girl-xs

"IIF2017 - Insurance in the DIGITAL World" Conference took place in Vienna

"IIF2017 - Insurance in the DIGITAL World" conference brought together in Vienna well-known insurance professionals from all over the world who analyzed the latest digital trends in the industry, taking into account the fast digitalization of the financial services providers' world, in particular in the insurance field, which is creating both huge opportunities and strong challenges for the players.

2017-11-14

PartnerRe appoints Turab HUSSAIN as Chief Risk Executive

Turab HUSSAIN has been appointed to the position of Chief Risk and Actuarial Officer at PartnerRe, starting from December 4, 2017. He succeeds Marvin PESTCOE, who will retire in 2018 after working to ensure a smooth transition.

2017-11-13

ON THE MOVE

TOP EVENT

photodune-3834701-laughing-girl-xs

"IIF2017 - Insurance in the DIGITAL World" Conference took place in Vienna

"IIF2017 - Insurance in the DIGITAL World" conference brought together in Vienna well-known insurance professionals from all over the world who analyzed the latest digital trends in the industry, taking into account the fast digitalization of the financial services providers' world, in particular in the insurance field, which is creating both huge opportunities and strong challenges for the players.

14.11.2017

photodune-3834701-laughing-girl-xs

Croatian Insurance Days Live

On 9 November has started in Opatija, Croatia, the 2017 edition of the Croatian Insurance Days Conference, the traditional meeting of the Croatian insurance top professionals with their European peers. XPRIMM Publications are supporting the event as Media Partners.

09.11.2017

photodune-3834701-laughing-girl-xs

The 2017 Baden Baden Meeting: Short recap

The Baden-Baden meeting, one of the key events in the reinsurance calendar, has just set the final point of this year's edition. XPRIMM Publications have reported from the meeting's premises. Let's recap!

26.10.2017

Baden Baden Headlines 3: CEE insurance markets are attractive for reinsurers

Central and Eastern Europe insurance markets are an important source of business for Lloyds, total premium income from this region increasing by EUR 64 million since 2010, pointed out the Lloyd's representative in a seminar dedicated to CEE insurance markets: "We are seeing strong growth from Czech Rep, Poland, Slovakia and Ukraine. At the same time are some contractions from Russia, Bulgaria, Romania and Hungary due to challenging trading conditions as political implications and other sanctions".

25.10.2017

Baden Baden Headlines 2: cyber insurance market set to grow under regulatory presure; nat cat events more frequent, but losses per event are decreasing

Asian insurance market, especially the Indian market - are considered to be "the new El-Dorado" of the global re/insurance market, with rapidly expanding markets and an dynamic environment: "Indian P&C re/insurance markets are expected to grow at a pace of 15% per annum", according  to Victor PEIGNET, CEO, Global P&C, SCOR SE. The French -based reinsurer setted-up its Indian branch in 2016, after the authorisation from the local market authority - IRDAI. India's re/insurance market has become more attractive for global companies following the relaxation of regulatory requirements, and lately, "big names" in the industry entered the market by opening branches: GEN Re, SCOR, Lloyd's of London, MUNICH Re, SWISS Re, Reinsurance Group of America (RGA), HANNOVER Re, XL Catlin and others.

24.10.2017

BB Headlines: Rates are settled to increase following Q3 events

The main effect after the Q3 nat cat bill of over USD 100 billion: Global reinsures said - the "discounts and reductions in tariffs era" especially in European reinsurance market for the January 2018 renewals, will come to end. At the same time, some reinsurers might disappear and there are likely to be more mergers, acquisitions and run-offs processes.

23.10.2017

photodune-3834701-laughing-girl-xs

Baden-Baden Reinsurance Symposium: the industry-wide impact of disruption

"In our business we are more than used to disruptions [...] But the pace of disruption has been amplified by new sources of data and by the increase in the power to collate this data", James NASH, the President, International of GUY Carpenter stated during his opening address at the Reinsurance Symposium in Baden-Baden on 22 October.

23.10.2017

See all