The appointment is subject to regulatory approval.

Zurich Insurance Group (Zurich) has appointed Alison Martin as group chief risk officer. She will join the group's executive committee on 1 October 2017 and will assume the role of CRO in January 2018.

She will succeed Cecilia Reyes, Zurich’s current group chief risk officer, who will retire from Zurich in the first quarter of 2018, the firm said in a statement.

Martin joins Zurich from Swiss Re, where she was head of life & health business management, a role she held for four years. In her 14 years at Swiss Re, Martin has held a series of senior management positions focused on transformation, commercial business and value creation.

“Alison represents an impressive blend of business results orientation, financial expertise and people skills," said Mario Greco, group chief executive. "She’s demonstrated that she can grow businesses based on a deep understanding of market dynamics, risk balancing and capital management, and is precisely the type of high-energy executive we were seeking to build on Cecilia’s accomplishments. I look forward to welcoming her to our executive committee."

Greco added: “In her over 16 years with Zurich, Cecilia has made a significant contribution in senior risk, finance and investment roles. In her current position, she has successfully managed risks across the group and, by doing so, has created real opportunities for Zurich to flourish. On behalf of the board, the executive committee and all Zurich employees, I applaud Cecilia for the positive impact she has made on Zurich, and thank her for her commitment to ensuring a smooth transition."

The appointment is subject to regulatory approval.