Switzerland’s biggest insurer, Zurich Insurance, has unveiled a shareholder-friendly shift to a simpler management structure under new chief Mario Greco. That’s a positive step. Too bad it’s into a brewing storm.
There’s certainly a lot to like about Zurich’s decision to retreat from the tangled matrix of dual geography and business reporting lines.
The focus is now on a country-by-country, region-by-region approach with a streamlined reporting structure that should ideally make it easier to cross-sell life and non-life insurance in one market — especially in retail. The creation of a chief operating officer role will also, the company says, help “manage costs.”…Read more at Bloomberg