New year brings new CEO at Zurich North America
NewsroomArticleJanuary 8, 2021
The new year brings a CEO change at Zurich North America: Kristof Terryn (in photo), previously Chief Operating Officer at Zurich Insurance Group in Switzerland, takes the helm at the Illinois-based company as Kathleen Savio, CEO for the past three years, moves into a newly created role as Group Chief Transformation Officer for Zurich Insurance Group as of January 2021.
These and other leadership role changes were announced in fall 2020 as part of the Swiss insurance group’s acceleration of its digital strategy. Zurich Insurance Group announced the formation of a Global Business Platforms unit, headed by former Zurich Asia Pacific CEO Jack Howell, to expand digital services worldwide.
“We are taking meaningful steps to accelerate the digitalization of our company, products and services,” said Zurich Insurance Group CEO Mario Greco. “Lifestyles are changing globally, and beyond the younger generations who have long valued the convenience of online services, demand has also broadened among other customers who are all seeking better digital options.”
Terryn moves into the North American CEO role after serving as Zurich Insurance Group Chief Operating Officer since 2016, during which time he successfully reduced complexity in Group operations, enhanced network stability and quality, and facilitated the integration of new technologies. He joined Zurich Insurance Group in 2004 and has served in diverse roles, including as Head of Global Life and General Insurance. Prior to joining Zurich in Switzerland, Terryn was based in the U.S. for eight years.
“It’s a great time to be part of Zurich North America,” Terryn said. “We’re in a strong position financially; we have a great balance sheet and have gained a strong reputation in the market. I feel tremendous optimism about the work that lies ahead.”
He takes on the North American CEO role from Savio, who successfully repositioned the North American business and increased its strength and resilience after ascending into the role in January 2018. She previously was Head of Alternative Markets for Zurich North America. In her new Group role, Savio will be responsible for enhancing business organization and governance, further developing cultural transformation across Zurich and ensuring the Group effectively delivers on its commitments. This includes the evolution of Zurich Insurance Group as a sustainable, purpose-driven company.
In other previously announced leadership changes at Zurich Insurance Group:
- Ericson Chan, former CEO of Ping An Technology, a unit of Ping An Insurance Company of China Ltd., joined Zurich Insurance Group in October as Group Chief Information and Digital Officer. He is leading the planning, development and operation of technology functions and other online ecosystems.
- Tulsi Naidu, who had headed Zurich’s operations in the United Kingdom since 2016, succeeds Howell as Zurich Asia Pacific CEO. She previously was an executive director at Prudential.
- Laurence Maurice was named CEO of Zurich Latin America. She joined Zurich from Allianz Partners, where she was CEO for Spain and Southern Europe for the Allianz SE unit. Maurice succeeds Claudia Dill, who stepped down for personal reasons.
- Katja Roth Pellanda became Group General Counsel in October. She succeeded Yannick Hausmann, who became a senior adviser to Group CEO Mario Greco.
Terryn, a native of Belgium, began his career in the banking industry then moved to McKinsey & Company, where he held various positions within the financial services practice in Brussels and Chicago. He joined Zurich in 2004 in the Finance department and ascended into roles as Chief Operating Officer (COO) for the Global Corporate business division, COO for General Insurance, Group Head of Operations, CEO for Global Life and CEO of General Insurance before being appointed as Group Chief Operating Officer and now CEO of Zurich North America.
He holds a law degree and a degree in economics from the University of Leuven, Belgium, as well as a Master’s in Business Administration (MBA) from the University of Michigan.
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