New Group CFO for Zurich in 2024

Zurich Insurance's long-standing Chief Financial Officer to leave after 10 years in early 2024 with replacement announced.

Swiss Re's Cordioli moves to rival Zurich.

Claudia Cordioli has been appointed by Zurich Insurance Group as Group Chief Financial Officer (CFO).

She will join the Group on March 1, 2024, and also become a member of the Executive Committee, subject to regulatory approval.

She will take over from George Quinn who has been Group CFO since 2014 and is now stepping down. Quinn will oversee the completion of Zurich’s 2023 Annual Results.

Cordioli joins Zurich from Swiss Re, where she held multiple roles across finance and the business over the past 20 years. Most recently she was Group Finance Director since 2022 overseeing finance functions as well as the Group's transition to IFRS 17.

Between 2020 and 2022 she acted as CFO of the Reinsurance business unit. Prior to that, she was Head of Western & Southern Europe, leading Swiss Re’s reinsurance business in 15 countries. Before joining Swiss Re, she worked in several consulting firms, including KPMG.

"Under his leadership, Zurich has delivered strong growth
and superior shareholder returns."

Quinn joined Zurich in 2014 as Group CFO and member of the Executive Committee. "Over the last 10 years he was instrumental in transforming the financial standing of Zurich and supporting Mario Greco over the last eight years in strengthening Zurich’s position as a leading insurer and one of the best capitalized companies in the sector," said Zurich's statement on his departure. "Under his leadership, Zurich has delivered strong growth and superior shareholder returns."

Just like Cordioli, prior to this role, he was also CFO at Swiss Re - from 1999 to 2014.

Earlier this year, Zurich saw P&C insurance revenue of $31.4 billion for the nine months to 30 September, which was a 9% increase in the same period in 2022.

“The Group has seen further growth in both commercial and retail business, with particular strength in Life,” it said in its statement.

“[Claudia] brings extensive experience across both finance and business functions, coupled with a proven record of delivering impactful results, building effective teams, and driving change,” said Mario Greco, Group CEO. “I would like to thank George for his contribution to Zurich over the last 10 years, reflected in Zurich’s strong financial position, notably our robust [Swiss Solvency Test (SST)], balance sheet and ratings.”