Leaders Elected in Associations
IBANY Awards Michael Chang 2021 Insurance Person of the Year
IBANY held a Virtual Fireside Chat midwinter.
Hosted by association president Renée McFadden and featured speaker Michael Price, CEO of AIG, North America General Insurance. Announced live during the event was the award of Michael Chang as IBANY’s 2021 Insurance Person of the Year.
Meet the IBANY 2021 Insurance Person of the Year:
Michael Chang serves as Chief Executive Officer (CEO) of Sompo Global Risk Solutions (Sompo GRS), a strategic business unit of Sompo International, as well as Co-Leader of Sompo International Global Insurance. As CEO of Sompo GRS, Mr. Chang is responsible for running all facets of the business, as well as charting the strategic direction of this fast-growing and profitable $1.5B global operation that offers comprehensive multi-line capabilities to accounts in select industry verticals including real estate, hospitality, financial institutions, life sciences, technology and professional services. In addition, Mr. Chang oversees the Sompo Asian Risk Solutions business for Asian-interest clients with exposures in the U.S. and Mexico.
In his role as Co-Leader of Sompo International Global Insurance, Mr. Chang is directly involved in all strategic decisions for Sompo International’s Commercial P&C Insurance business.
Prior to his current role, Mr. Chang was with Chubb & Son, where he last served as President of the Real Estate & Hospitality division, a unit he built from the ground up into a market leading operation with premiums over $1B.
With more than 20 years of experience in the property and casualty industry, Mr. Chang has a track record of building and leading strong client focused and profitable operations. He also has deep knowledge and experience dealing with M&A activity, having worked on various senior level projects during the integration of Endurance and Sompo International, as well as during the acquisition of Chubb & Son.
A recognized leader in the field of diversity and a passionate supporter of diverse talent in the insurance industry, Mr. Chang has led a number of minority development programs and has spoken at various diversity events across the industry. This includes serving as the Executive Sponsor of Sompo International’s Inclusive Diversity Council and driving the company’s efforts to create an inclusive workplace that promotes, values and embed diversity in all aspects of the operation. Most importantly, Mr. Chang makes himself available to all that seek his input on how to succeed in the business world.
Mr. Chang is a graduate of the University of Pennsylvania, Wharton Undergraduate Division, with a Bachelor of Science degree in Economics. He is an active member of The Penn Club and an active volunteer for the Groove Leadership Academy.
Michael A. Zarcone Elected Chair of LICONY
The Life Insurance Council of New York, Inc. (LICONY) has elected Michael A. Zarcone as Chair of its Board of Directors for a two-year term, beginning January 1, 2022. Mr. Zarcone is Executive Vice President and Head of Corporate Affairs at MetLife, where he oversees Global Communications, Global Government Relations and Public Policy, Corporate Contributions and Community Relations, and Corporate Real Estate. In this role, he manages MetLife’s engagement with internal and external audiences in the more than 40 global markets where the company does business.
“LICONY could not ask for a Chair who is more committed to the organization,” said Richard A. Loconte, President and CEO of LICONY. “Mike has been an integral part of LICONY for decades and is a recognized leader on the Board of Directors. Mike appreciates the mission and vision of LICONY and his experience and expertise will be key to helping us achieve our goals.”
Mr. Zarcone succeeds current Chair Frederick L. Wortman, Senior Executive Vice President, Chief Marketing Officer & Chief Administration Officer at Security Mutual Life Insurance Company of New York.
“The life insurance industry has always played a critical role as a private sector safety net and as a driver of long-term economic growth,” added Zarcone. “I look forward to working with the Board as we serve as the voice of the industry in New York, driving public policies that will help people build greater financial security.”
Mr. Zarcone also serves as Chair of MetLife Foundation, which works to expand opportunities for low- and moderate-income people around the world. The Foundation has also been a leader in the COVID-19 global response.
Mr. Zarcone holds a Juris Doctor degree from Catholic University of America School of Law, a bachelor’s degree in English from Siena College, and is a member of the New York State Bar Association, the Pennsylvania Bar, and the Bar of the District of Columbia.
