Zurich Australia & New Zealand has announced the appointment of Geoff Summerhayes to Zurich’s suite of Boards, commencing immediately.
A statement from the insurer says Summerhayes is a former financial services CEO, director and APRA Executive Board Member.
Prior to his Board role at APRA, he was CEO of Suncorp Life, CEO Superannuation and Investment at MLC, and held a number of senior executive roles at National Australia Bank.
The insurer says Summerhayes joins five of Zurich’s main APRA-regulated Boards as an Independent Non-Executive Director and Member of Risk, Compliance and Audit Committee. These include:
- Zurich Financial Services Australia Limited
- Zurich Australia Limited
- Zurich Australian Insurance Limited
- OnePath Life Limited
- OnePath General Insurance Pty Limited
The statement says that Summerhayes’ role on ZFSA’s Board also includes Member of People and Remuneration Committee. He also joins Zurich Investment Management Limited’s Board as an Independent Non-Executive Director.
It adds that as an APRA Executive Board Member, Summerhayes most recently championed significant organisational transformation across APRA’s strategy, leadership capability, diversity and culture during a five-year tenure.
“In recent years, Geoff has led significant regulatory change in Australia and globally as a forthright leader, raising awareness of climate change financial risk,” it says.
His chairperson and leadership roles include:
- The Council of Financial Regulators Working Group on Climate Change with members including APRA, ASIC, RBA and Treasury
- The International Association of Insurance Supervisors Audit and Risk Committee
- The UN Environment Program’s Sustainable Insurance Forum, a global body of insurance regulators collaborating on sustainability and climate change
Chair of Zurich’s Boards, Paul Bedbrook says Summerhayes’ extensive experience and expertise in commercial and regulatory matters represents a valuable appointment to Zurich’s Boards.
Bedbrook says that along with Summerhayes’ deep knowledge of the industry, his “…experience also complements the diverse capabilities of our Board Members and we welcome and look forward to his contribution.”
Justin Delaney, CEO Zurich Australia and New Zealand, added the company is fortunate to have such a high calibre addition to its Boards and that his appointment “…reflects the commitment we have at Zurich to strengthen our position in the market by bringing unique leadership to our strategy, governance and culture.”
The statement notes that Summerhayes has recently been appointed Chairperson of Beyond Zero Emissions, an independent, solutions-focused think tank centred on a prosperous zero-emission economy for Australia.
He is also a Non-Executive Director at Heartland Group Holdings Ltd NZ. He started his career in commercial property development at Lend Lease.
