Zurich North America Commercial Names Daniel Riordan President of Its Surety, Credit and Political Risk Group
SCHAUMBURG, Ill.--(Business Wire)--
Zurich North America Commercial today named Daniel W. Riordan
president of its Surety, Credit and Political Risk group. This newly
created group combines Zurich's Surety group, a leading provider of
contract and commercial Surety products in North America, and its
Emerging Markets operation, which is the leading provider of Political
Risk and medium-term Trade Credit insurance in the global marketplace.
In this role, Riordan will lead an international team that develops
and markets Zurich's portfolio of surety, credit insurance and
political risk insurance products to contractors, investors,
international banks, multinational companies and infrastructure
developers across North America and in emerging markets globally.
Zurich today also announced the upcoming retirement of William E.
Cheatham, president of Surety, effective September 30, 2008. Cheatham
has been instrumental in leading Zurich's Surety group to achieve
strong growth and profitability, so that today Zurich is one of the
key players in this market.
"By integrating these lines into a single unit under Dan's
leadership, we are offering our customers and distributors easier
access to multiple, related lines of protection," said Seraina Maag,
president of Zurich's Specialties business unit. "Dan has led the
development of our political risk and credit lines that his team has
built into a world-class business. We are confident he will bring the
same vision and customer orientation to the newly aligned Surety,
Credit and Political Risk group."
"By bringing together our surety, credit and political risk
expertise, Zurich will provide customers with a more powerful service
offering," Riordan said. "We have established strong distribution
networks in the U.S. and emerging markets for these products. By
leveraging our knowledge and our networks, we can bring our customers
more immediate access to the broader array of complementary products
they need."
Riordan joined Zurich in 1997 to establish and manage its
political risk and trade credit business, which is based in
Washington, D.C. Prior to that, he was a senior executive and vice
president for insurance with the Overseas Private Investment
Corporation. Riordan currently serves as chairman of the Investment
Insurance Committee and a member of the Management Committee of the
Berne Union. He is also a member of the board of directors of the
U.S.-Russia Business Council and a member of the Institute of
International Finance and the Institute for International Economics.
Riordan is a graduate of the State University of New York at
Oswego, and earned a masters' degree in international development from
the School of International Service at American University,
Washington, D.C.
About Zurich Financial Services
Zurich Financial Services Group (Zurich) is an insurance-based
financial services provider with a global network of subsidiaries and
offices in North America and Europe as well as in Asia Pacific, Latin
America and other markets. Founded in 1872, the Group is headquartered
in Zurich, Switzerland. It employs approximately 60,000 people serving
customers in more than 170 countries. In North America, Zurich
(www.zurichna.com) is a leading commercial property-casualty insurance
provider serving the global corporate, large corporate, middle market,
small business, specialties and programs sectors.
Zurich
Media contact:
Steve McKay, (847) 706-2265
steven.mckay@zurichna.com
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