Zurich North America Tuesday named former Fortitude Re executive James Bracken chief financial officer, succeeding Peter Hirs, who is returning to Switzerland to be the insurer’s head of mergers and acquisitions.
Mr. Bracken most recently served as Fortitude Re’s CEO, building a Bermuda-based runoff insurance company with $75 million in assets. Prior to that, Mr. Bracken was CFO at AIG General Insurance. He will report to Zurich North America CEO Kristof Terryn and based at its Schaumburg, Illinois, headquarters, the company said.
Mr. Hirs will replace Dalynn Hoch, who joined Zurich North America in January to lead its rural community insurance services department. Mr. Hirs will report to Zurich Insurance Group CFO Claudia Cordioli.
Mr. Bracken and Mr. Hirs will assume their new roles July 1, Zurich North America said.
