Zurich Insurance Company Ltd’s Canadian branch has announced a significant reorganization of its business structure.
The company’s latest changes are intended to align its teams more closely with distinct customer segments, including national, middle market, SME, and retail, the company claims, as Zurich Canada enters a new phase of growth.
Zurich Canada’s new structure introduces several business units, each with dedicated leadership.
The national accounts division, now led by Dane Hambrook, will oversee areas such as national general property, national liability (including environmental and auto), and a consolidated national energy/construction/marine unit, along with Surety and Financial Lines.
Marco Royer has been appointed to lead the alternative risk solutions unit, which will manage programs, MGAs, and alternative risk transfer/captives.
The middle market segment, under the continued leadership of Donna Mulligan, will focus on specific industries, including manufacturing, retail, professional services, real estate, wholesale, technology, and construction.
The retail segment, which covers accident & health, travel, and retail partnerships (auto & home), will report to Paul Jackson, who heads customer & market management and retail.
Zurich Canada CEO Saad Mered said the new structure is intended to strengthen relationships with customers and brokers.
“We are committed to putting our customers and broker partners at the centre of everything we do. These changes are a reflection of our ambition to deliver simpler, more effective solutions and to build even stronger relationships with those we serve,” he said. “By aligning our organisation more closely with our customers’ unique needs, we are positioning Zurich Canada for sustainable growth and continued leadership in the market.”
The announcement of the new structure comes on the back of Zurich Insurance Group reporting its financial results for the first quarter of 2025.
The property and casualty (P&C) insurance division posted a 5% increase in gross written premiums, supported by a 4% rise in rates and better margins in both commercial and retail lines.
Commercial insurance premiums grew by 2% in US dollars, with a 3% rate increase compared to the same period in 2024.
The company highlighted growth in specialty and middle market segments, which have been strategic priorities.
Zurich North America contributed to improved underwriting results through portfolio management.
The retail segment saw an 11% increase in gross written premiums, attributed to rate changes, pricing adjustments in motor and property lines, and the integration of AIG’s global personal travel insurance and assistance business. Underwriting margins in this segment also improved.
The life insurance business reported an 18% rise in gross premiums, driven by demand for unit-linked products and strong sales of a capital-efficient savings product in Spain.
The protection business continued to grow, with expectations for this trend to persist through 2027.
