January 17, 2008
New Zurich Chinese Scholars Fund
Established for St. John’s University Students
St. John’s University’s School of Risk Management,
Insurance and Actuarial Sciences (SRM) honored James J. Schiro,
CEO of Zurich Financial Services, as the 2007 Insurance Leader of
the Year tonight at the Marriott Marquis Hotel in Manhattan. The
13th Annual Insurance Leader of the Year Award Dinner, sponsored by
the School of Risk Management raised a record $2.4 million for
student scholarships and program initiatives. More than 1,400
industry leaders attended the event.
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“The Insurance Leader of the Year Award was established in 1995
to recognize outstanding individuals whose leadership in insurance
sets them apart from their peers,” said Ellen Thrower, Executive
Director of the School of Risk Management. “This year’s
distinguished honoree, Jim Schiro, truly exemplifies the kind of
leadership this award was created to recognize and we are
especially proud that Jim is a devoted alumnus of St. John’s
University.”
In accepting the award, Schiro challenged the insurance industry
to transform its processes and procedures to become more
customer-centric. "The insurance industry's business model has
remained stagnant for more than 100 years, while the world around
us was changing immensely," said Schiro. "It is vitally important
to the future of our industry that we re-examine our customers,
products and distribution models to ensure we remain relevant to
the communities we serve."
Tying together themes from his speech regarding enhanced
customer service, emerging market leadership and talent management,
Schiro announced at the ceremony that Zurich has established the
Zurich Chinese Scholars Fund at the School of Risk Management, a
scholarship program that will fund the enrollment of Chinese
students in St. John's School of Risk Management, Insurance and
Actuarial Science's Master of Science (M.S.) degree program in
Management of Risk. The $300,000 scholarship program will cover all
costs associated with three Chinese students attending the one-year
program for each of the next three years, helping to contribute to
the overall development of the Chinese insurance market. "This
scholarship program is intended to prepare high-potential Chinese
students and professionals for future leadership in the insurance
and risk management industry," said Schiro. 'It epitomizes
Zurich's commitment to training talented insurance individuals to
compete in the changing global economy."
The Insurance Leader of the Year Award Selection Committee is
chaired by Joseph Mauriello, Retired Deputy Chairman of KPMG, and
includes George Bernstein, Esq. of The Law Offices of George
Bernstein (Washington, D.C.); Jack Nelson, Ph.D., Insurance-Client
Relationship Manager of Wellington Management Company; Richard E.
Stewart of Stewart Economics (Chapel Hill, NC); and Peter Walker,
Director of McKinsey & Company.
Past recipients of the award are Peter
B. Lewis, Chairman of The Progressive Corporation; Brian
Duperreault, Chairman of ACE Limited; John T. (Jack) Sinnott,
Senior Advisor, Stone Point Capital; Paul B. Ingrey, Retired
Chairman & CEO of Arch Worldwide Insurance and Reinsurance
Group; John J. (Jack) Byrne, Retired Chairman & CEO of White
Mountains Insurance Group Ltd.; Ronald E. Ferguson, Retired
Chairman and CEO of General Re Corporation; Robert Clements,
Chairman of Integro Ltd.; Maurice R. (Hank) Greenberg, Chairman and
CEO of C.V. Starr & Company; Patrick G. Ryan, Executive
Chairman of Aon Group; Sir David Rowland, former Chairman of
Lloyd’s of London; and Edward J. Muhl, former Superintendent of
Insurance of the State of New York.
The School of Risk Management, Insurance and Actuarial Science
was founded in 1901 as The Insurance Society of New York and over
the years, evolved into a fully accredited College, The College of
Insurance. In June 2001, the College merged with St. John’s
University and became a school of the Peter J. Tobin College of
Business. The SRM continues its 100-year tradition of
preparing students for successful careers and active leadership in
the diverse world of insurance, risk management and financial
services. Located in New York City’s downtown financial district,
the SRM awards undergraduate, MBA, and MS degrees in the insurance,
risk management, and actuarial science disciplines. Through
its Center for Professional Education the SRM also provides
education, training and consulting services to industry,
governments and regulators worldwide.
Zurich Financial Services
Group (Zurich) is an insurance-based financial services
provider with a global network of subsidiaries and offices in North
America and Europe as well as in Asia Pacific, Latin America and
other markets. Founded in 1872, the Group is headquartered in
Zurich, Switzerland. It employs approximately 58,000 people serving
customers in more than 170 countries.
Media Contacts
Dominic Scianna, St. John’s
University
Assistant V.P. for Media Relations
(718) 990-6185
sciannad@stjohns.edu
Steve McKay, Zurich
PR Manager
(847) 706-2265
steven.mckay@zurichna.com
For further information regarding the School of Risk Management
at St. John’s University call Maureen Furlong-Weber at (212)
277-5111.