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Zurich reassures brokers as Doyle moves to Dual

Zurich’s leaders have moved quickly to assure brokers and customers that the group’s Australian general insurance business “won’t miss a beat” following the surprise resignation of CEO Shane Doyle on April 20.

Australia Chairman Terry Paradine and Asia-Pacific General Insurance CEO Johnny Chen issued a statement today saying the search for a replacement CEO is already well under way.

 “Zurich remains committed to its strategy of delivering compelling propositions to customers through brokers and we want to make it very clear that we won’t miss a beat during this transition period,” Mr Paradine said.

Mr Chen says the executive team under Mr Doyle “has done a remarkable job of implementing Zurich’s global general insurance strategy in Australia and New Zealand, despite a backdrop of numerous major claims events”.

He says the March commercial insurance results from Sunrise Exchange have revealed Zurich is now number one for new business in Australia.

“Brokers are telling us that Zurich’s investment in technology and a structure responsive to their needs is important to them and we have every intention of keeping our brokers top of mind,” Mr Chen said.

The statement follows confirmation from London-based insurer Dual International that Mr Doyle is to become its Deputy CEO.

Mr Doyle will report to Damien Coates in his new role.

Mr Coates, who established Dual’s Australia, New Zealand and Asia-Pacific operations, was appointed CEO of Dual International in December. He told insuranceNEWS.com.au at the time that his appointment was “a once in a lifetime chance to be the CEO of a company that is planning to list on the London Stock Exchange”.

It’s understood Mr Doyle’s new role will see him operating across Dual’s growing global operations in Europe, the Asia-Pacific and the Americas.

Dual is owned by the Hyperion Insurance Group, which also owns global broker Howden.

Hyperion CEO David Howden said in a statement that he has known Mr Doyle for many years, adding: “His significant underwriting and management experience… will bring additional energy to our growth plans.”