Zurich chief to depart, successor named

Zurich announced a new chief executive for its life and investments business as Tim Bailey exits for a new role.

TAL Life chief operating officer Justin Delaney will join Zurich from December this year.

Prior to that, Delaney held a series of senior roles over a 12-year tenure at Macquarie Group.

During his time at Macquarie, Delaney oversaw the creation and growth of Macquarie Life and led Macquarie's platforms, superannuation and online broking businesses.

He departed Macquarie as executive director, head of wealth product and platforms.

Delaney will fill the shoes of Tim Bailey - who is returning to Europe to take up another role with Zurich Group.

Bailey oversaw the acquisition and integration of the Macquarie Life business at Zurich and, more recently, the successful completion of Zurich's acquisition of OnePath Life.

Zurich regional chief executive for Asia Pacific Jack Howell said: "Our Australian life insurance operations are now our largest regional revenue contributor and underpin our growth aspirations throughout Asia Pacific."

He said Delaney joins a business that is true leader in the Australian life insurance sector.

"Justin brings excellent experience across all channels in the life sector, and joins a business with a clearly defined strategy, built on a commitment to a dual brand, multi-proposition approach in retail, and strong growth aspirations across group life, bancassurance and investments," Howell said.

"This strategy has been developed and executed by a stable and highly experience senior leadership team, and I know Justin is looking forward to working with them immensely."

He also thanked Bailey, crediting him with growing Zurich from a mid-tier player to a market leader in Australia.

"One of the many drivers of this success has been Tim's focus on organisational culture, and we are proud of the excellent employee engagement seen across the Australian Life and Investments business, which is amongst the highest in Zurich Group," Howell said.

"Tim was able to articulate a clear strategic vision, and motivated and empowered his people to deliver it. The excellent results that the business continues to achieve are a real testament to this."

Read more: Tim BaileyZurich GroupMacquarie LifeJustin DelaneyJack HowellMacquarie GroupOnePath LifeTAL Life
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