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Zurich CEO announces sudden exit

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Zurich Australia’s General Insurance CEO Raj Nanra will leave the business later this month.

The company said this afternoon that Mr Nanra “decided to resign” and will depart on April 20.

Chris Waterman, the Singapore-based Head of Commercial Insurance Asia Pacific, will oversee the business in addition to his current responsibilities.

“Chris will spend a significant amount of time in Australia and work closely with the local leadership team to manage the business, support Zurich's partners and ensure that customers’ needs are fully met,” Zurich said.

Mr Nanra joined Zurich in June 2014, first as regional audit director Hong Kong. He then moved to the Australian team holding several roles including CFO, before being promoted to CEO General Insurance.

Asia Pacific CEO Jack Howell says Zurich has the team in place to build on Mr Nanra’s achievements.

“Our goal is to build on and accelerate the positive changes we’ve seen in our Australian general insurance business in recent years,” he said.

More details in our regular bulletin on Monday.