Zurich has appointed Daniel Riordan, current head the company’s surety, credit and political risk group, as president of its North America commercial specialties business unit. He will be in charge of both units until a replacement is named.

Prior to joining Zurich, Mr Riordan served as senior executive and vice president for insurance with the Overseas Private Investment Corporation, managing its $13bn portfolio of long-term investment risks in 75 developing countries.

Mike Foley, CEO of Zurich North America Commercial, said: Our specialties business is an important component of Zurich in North America’s overall portfolio of customer-focused products and services.

“We are confident Dan will be a strong leader of the Specialties business unit team, as well as a key addition to the Zurich North America Commercial senior staff and global specialties leadership team. He has a proven track record of successfully growing each business he has led at Zurich, and I look to him to continue this success with specialties.

Riordan, said: It is a great honor being named to this position. I look forward to building on the robust success of the Specialties business unit.