Cover-More names new CEO

The new appointment is effective immediately, with Fike reporting to Cara Morton, CEO of Zurich Global Ventures.

He succeeds interim Cover-More Group CEO Justin Sebire, who has been leading the company since February.

Fike is also Zurich Insurance Group’s Head of Life, Accident and Health for its North American business, and will continue to serve in that role in tandem with his new responsibilities.

Since joining Zurich in 2014, Fike has also served as CEO of General Insurance in Malaysia, and later President Director of Adira-Indonesia following Zurich’s acquisition of that company.

Fike’s appointment comes just over a week after Zurich announced its intention to purchase AIG’s global personal travel insurance and assistance business for US$600 million. That business will be merged with Cover-More, with the resulting business expected to be worth US$2 billion in annual gross written premiums.

“This appointment comes at a pivotal time as we immediately move into the integration phase following our recent agreement to acquire AIG’s travel business,” said Morton. “With this strategic combination of the travel businesses, North America will become Cover-More Group’s largest region.

“David’s extensive experience in the Life, Accident and Health market makes him the ideal leader to guide our team through this transition, drive our travel business forward, and further strengthen our market position,” she added.