Mike Emmett is stepping down from his position as CEO of Zurich-owned travel insurer Cover-More and will leave the company by the end of the year.

Mr Emmett joined the insurer from QBE in 2016, shortly before the Zurich takeover and after the departure of Peter Edwards.

He will be succeeded by Hanno Mijer, who is currently Zurich Group’s Global CEO Corporate Life and Pensions.

A note sent to staff overnight acknowledges significant growth under Mr Emmett’s leadership.

The note, signed by Zurich CEO Asia-Pacific Jack Howell and Group Chief Strategy, Innovation and Business Development Officer Giovanni Giuliani, says Cover-More intends to build on its current position “to develop a truly global platform”.

“It is only appropriate that as we enter into this new phase we transition into new leadership,” the statement says.

Mr Mijer will relocate from Switzerland to Sydney, and will report to Mr Howell and Mr Giuliani.

More details in our regular bulletin on Monday.