| Zurich Surety, Credit & Political Risk announces new leadership |
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16/03/2010 12:40 (698 Day 02:36 minutes ago) | |||||
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The FINANCIAL -- Zurich North America Commercial’s Specialties business unit on March 15 named David Hewett and Michael Bond to lead its Surety, Credit & Political Risk group.
Hewett and Bond will lead the integrated unit that develops and markets Zurich’s portfolio of surety, credit insurance and political risk insurance products to contractors, Fortune 2,000 businesses, investors, international banks, multinational companies and infrastructure developers across North America and in emerging markets worldwide.
Hewett has been named executive vice president of Domestic Surety, and Bond has been named executive vice president of International Surety, Credit & Political Risk.
Hewett will be responsible for Zurich’s Contract and Commercial Surety business in North America. He joined Zurich in 2003 and was promoted to vice president for the Surety Core Contract group in 2006. Hewett was named senior vice president for Contract Surety in 2008, with responsibility for all contract surety accounts in the U.S. and Canada. Prior to joining Zurich, Hewett was vice president with a major surety brokerage operation and has held underwriting positions with a leading surety company.
Hewett is a graduate of Indiana University with a B.S. degree in Business and earned a Master’s degree in Business with an emphasis in Finance from Johns Hopkins University in Baltimore, Md.
Bond will be responsible for management of Zurich’s Trade Credit insurance, Political Risk insurance and International Surety business.
Bond was formerly senior vice president, International Surety, focusing on the expansion of Zurich North America Commercial's International Surety initiative. Bond joined Zurich in 1998 as a senior underwriter for Trade Credit and Political Risk business in emerging markets. He has held positions of increasing responsibility including vice president for the group in Continental Europe. In 2005 he was named senior vice president and chief operating officer of the group.
Prior to joining Zurich, Bond was a senior insurance officer at Overseas Private Investment Corporation (OPIC), underwriting political risk insurance coverage for projects in a variety of industrial sectors. Previously, he worked as a municipal development advisor with the U.S. Peace Corps in Honduras and as a project manager with Law Environmental in Atlanta, Ga.
Bond holds a B.S. from Rutgers University, an M.S. from the Georgia Institute of Technology and an M.B.A. from Loyola College.
Hewett and Bond replace Daniel Riordan, who served as head of Zurich’s Surety, Credit & Political Risk group until earlier this year, when he was named president of Zurich North America Commercial’s Specialties business unit.
Riordan said, “David and Mike bring unsurpassed experience and knowledge to the business. Over the past years they have expanded Zurich’s footprint in Surety, Credit & Political Risk in North America and worldwide, developing strong relationships focused on our customers’ needs.”
Zurich Surety, Credit & Political Risk is a leading provider of contract and commercial surety, trade credit and political risk insurance products worldwide. Surety, Credit & Political Risk serves customers through underwriting offices located in 35 cities throughout North America, as well as Barcelona, Beijing, Frankfurt, Hong Kong, London, Paris, Sao Paulo, Singapore, Sydney, Tokyo and Zurich.
Zurich provides surety bonds, political risk and trade credit insurance for financial institutions, multinational corporations, investors, exporters, contractors and infrastructure developers in North America and emerging markets.
Zurich is a member of the Berne Union, an international union of credit and investment insurers, as well as ICISA, an international association of trade credit insurers and surety bond providers.
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