Group captive insurance consultant Captive Resources has appointed Mike Foley to its board of directors.
Foley, who stepped down as Zurich North America CEO in December 2017 after nine years in the role, brings more than 20 years of insurance industry experience.
The move is effective 1 April 2018, with Foley retiring from the Zurich North America executive committee on 28 February 2018.
On 1 January 2019, Foley will join Captive Resources as president, succeeding current president Nicholas Hentges, who has held the role since 2014.
Hentges will take up the role of co-CEO, which he will serve alongside current chairman and CEO, George Rusu.
According to Rusu, Foley’s wealth of insurance knowledge will make him a tremendous asset to the company.
Rusu said: “We believe Mike Foley will play a key role in shaping the future of Captive Resources, as we continue to pursue and execute our vision to provide an unparalleled customer experience, and continually expand our capabilities in the captive arena.”
Foley commented: “I’m excited to join such a well-positioned company, with a strong track record of growth through customer focus.”
He added: “Together we can build on the company’s exceptional foundation to drive profitable growth and continue to enhance an already industry-leading value proposition.”
