Sompo International Holdings has announced the retirement of John Charman as executive chairman and CEO – with the group also naming James Shea as his successor.
Charman, who served the role for eight years, is set to step down at the end of his current contract in April 2022.
New appointee, Shea has over 25 years of global insurance experience, most recently serving as the CEO of commercial insurance for Zurich and as a member of its executive committee based in Zurich, Switzerland.
Prior to his role with Zurich Insurance, he spent nearly 20 years at AIG in a variety of underwriting and leadership roles in New York, London, Paris, Tokyo and Singapore.
All of Shea’s appointments will be effective September 1, 2021, subject to regulatory approvals.
Shea said: I am delighted and honored to be joining Sompo at this historic point in time for the organisation.
“Building on the extremely strong franchise, significant balance sheet and the ability to transact complex business of scale on a global basis is energizing and I am looking forward to working with the talented and highly regarded executives and colleagues at both Sompo Group and Sompo International.”