CEO Life & Investments to depart Zurich

Zurich Financial Services Australia (Zurich) has announced the departure of chief executive officer, Life and Investments, Tim Bailey, effective December 2019.

Since joining the Australian business from Zurich's group head office in early 2015, Bailey "has overseen the successful acquisition and integration of the Macquarie Life business, and most recently the successful completion of Zurich's acquisition of OnePath Life," the firm said.

In thanking him for his service, Jack Howell, Zurich's APAC regional CEO, said: "Tim has successfully grown Zurich from a mid-tier player to a true market leader in Australia. One of the many drivers of this success has been Tim's focus on organisational culture, and we are proud of the excellent employee engagement seen across the Australian Life and Investments business, which is amongst the highest in Zurich Group."

He added: "Tim was able to articulate a clear strategic vision, and motivated and empowered his people to deliver it. The excellent results that the business continues to achieve are a real testament to this."

Bailey is returning to Europe to take up another role within the Zurich Group, the firm said. His successor will be Justin Delaney, who most recently served as chief operating officer for TAL's life insurance business.