Zurich Australia’s diverging general insurance and life operations will remain connected at the top through the creation of an executive committee.

The insurer unveiled a new structure last Tuesday under a program instituted by its Swiss-based parent to split general and life insurance operations worldwide.

This involves the promotion of Shane Doyle to CEO of Zurich General Insurance and Country Manager, and Colin Morgan to CEO of Zurich Life and Investments.

Group CEO David Smith, who has overseen the transition to this point, will leave the company on March 31. The changes take effect on April 1.

While Mr Doyle and Mr Morgan will report directly to their Hong Kong-based superiors in Zurich Asia Pacific, an executive committee will be created in Australia to ensure the two businesses “remain aligned”, a spokesman said.

insuranceNEWS.com.au understands the committee won’t make high-level decisions, but will ensure the two entities communicate on key strategic directions and logistical crossovers. Members of the committee have yet to be determined.

Other centralised functions of Zurich Australia are human resources, legal and compliance, information services and parts of the finance team.

Marketing operations will be split, and Head of Marketing Caroline Tait will leave the company at the end of the month.

Direct reports to Mr Doyle and Mr Morgan will remain in their present roles under the restructure, with one exception in the general insurance operation – the promotion of Melbourne-based Head of Mid-Market Lou Borrelli to GM Customer, Distribution and Marketing.

The only major change in the life company’s management is the appointment of GM Investments Matt Drennan to EGM Investment Management, bringing that business under Mr Morgan’s reporting line.

Group CFO Iain Howie will move to a new role as COO for Zurich’s Middle East-Africa region.

To support the move to two separate operating businesses, Manager Investments and Capital Management William Milner will become CFO for Zurich General Insurance. Head of Planning and Performance Management and Strategy Raf Uy will become the CFO for Zurich Life and Investments.