Zurich Financial Services Australia has announced the appointment of Geoff Summerhayes as chair, in addition to Noel Condon and Mary Waldron as independent non-executive directors.
Mr Summerhayes comes into the role with extensive experience in insurance, financial services and regulation, most notably as a former executive board member of the Australian Prudential Regulation Authority (APRA).
He has previously served as chief executive officer of Suncorp Life, regional general manager at National Australia Bank (NAB) and chief executive officer of MLC Superannuation and Investments.
Moreover, Mr Summerhayes will also chair Zurich’s other related corporate entities. He has served as an independent non-executive director on each of these boards since January 2022.
Commenting on his appointment Mr Summerhayes said, “I am delighted and honoured to take on this new role. Zurich occupies a unique position as a composite — life and general — insurer and my focus as chair will be to continue to work with our executive team, led by chief executive Justin Delaney, as we evolve Zurich’s proposition and operations for the benefit of our customers and employees.”
“I am particularly proud of Zurich’s commitment, both globally and locally, to achieving critical sustainability outcomes and I look forward to supporting the delivery of this agenda,” Mr Summerhayes continued.
Mr Condon brings 40 years of experience into the role of independent non-executive director, having previously held senior management roles with American International Group (AIG), including as Australia chief executive for nine years and served as a board member of AIG Australia, AIG New Zealand and the Insurance Council of Australia (ICA).
Ms Waldron has more than three decades of experience in audit, risk and consulting, most recently serving as a partner at Arthur Andersen and Ernst & Young. She spent 14 years at PricewaterhouseCoopers where she was a member of their global leadership team and the global chief risk officer from 2016 to 2021.
Moreover, Nicolette Rubinsztein has also been appointed as an independent non-executive director of Zurich Australian Insurance Limited, in addition to her existing directorships of other Zurich corporate entities.
The announcement follows the resignations of former Chair, Paul Bedbrook, and non-executive director, Elaine Collins, from 31 December 2022.