Insurer announces that group chief officer for EMEA will take on role of UK CEO early next year
Current UK CEO Tulsi Naidu, who will join the Zurich Group Executive Committee as CEO for the Asia Pacific region, is to be replaced by Tim Bailey (subject to regulatory approvals) from 1 January 2021.
Bailey is currently group chief operating officer for EMEA and has more than 20 years of experience in the insurance sector. Previously he has held roles at Zurich such as CEO of life and investments (Australia), chief risk officer and head of strategy for the global life business.
According to the insurer, he has played a key role in Zurich's response to Brexit as well as Covid-19 in the EMEA region.
Tim Bailey said: "I'm delighted to be taking on the role of UK CEO from 1 January and to be re-joining the UK business, where I started my career in insurance over 20 years ago. I've had the pleasure of working closely with the UK team for the last year as EMEA COO and seen the tremendous progress that has been made under Tulsi's leadership. I'm looking forward to joining such a talented leadership team, responding to the rapidly-changing environment and continuing to deliver great service to our UK customers and distribution partners."
Tusli Naidu has led the UK business since 2016 and, according to the firm, has simplified the business, developed its digital capabilities and strengthened the team during her four-year tenure.
She said: "I am honoured to be asked to take on the role of CEO of APAC and I'm really looking forward to this next challenge which represents a significant growth opportunity for the Group. I have loved my time working with the UK team and the progress we have made in this key market for the Group. I have every confidence the business will maintain its strong momentum moving forwards and I see a very bright future ahead. The business is in great shape and well poised for the next chapter."
On Bailey's appointment, she said: "I couldn't leave the UK business in safer hands. Tim has two decades of extensive global experience across the Zurich Group and I am really confident he will provide the leadership to take the business forward on the next stage of its journey."
Alongside personal lines
Approved by regulator
Reaction from personal finance sector
Sky News reports