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Cover-More eyes global growth with CEO switch

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Zurich is targeting a new era of worldwide growth for its Australian travel insurer Cover-More, and has installed one of its own global executives as CEO.

As reported in a Breaking News bulletin last week, Australian Mike Emmett will step down as Cover-More CEO and be succeeded by Hanno Mijer, Zurich’s Global CEO Corporate Life and Pensions.

A note to staff says Mr Emmett will remain with the business until the end of the year to support the transition. The note is signed by Zurich CEO Asia-Pacific Jack Howell and Group Chief Strategy, Innovation and Business Development Officer Giovanni Giuliani.

“As the business moves into its next phase of growth, Cover-More will leverage its position to develop a truly global platform, expand offerings in health and wellness, and leverage opportunities that exist as part of a global insurance company,” the statement says.

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

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

The note says under his leadership Cover-More has seen significant growth.

“Mike has worked closely with Zurich teams to identify areas of mutual benefit and collaboration and secured a string of strategic acquisitions in Latin America and Europe. In addition, the business has signed on a number of distributors and increased its visibility through new marketing partnerships.”

Mr Mijer joined Zurich in 2007 and has worked in Europe, the US, Latin America and Asia.

The note says he has transformed corporate life and pensions into “a fast-growing and profitable business”.

“Hanno is uniquely qualified to execute on our vision and position us as the preferred choice for travel and insurance solutions with customers and distributors,” Zurich says.

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