Zurich has appointed a new Chief Life Actuary to its Isle of Man-based international business.

Neil Costa also assumes the role of Appointed Actuary at Zurich International Life and will lead a team of 15 Actuaries and Actuarial students. 

A Fellow of the Institute of Actuaries and with more than 25 years of industry experience, Neil is also a Fellow of the Singapore Actuarial Society and is on the Register of the UAE Insurance Authority’s Approved Actuaries, the only Actuary within Zurich Insurance Group to hold this position. He has held the role of Appointed Actuary for Zurich’s international branches in Singapore and the UAE for several years, and now takes over that responsibility for its branches in Hong Kong, Bahrain and Qatar.  

After graduating with a degree in Mathematics and Statistics from Bristol University, Neil began his actuarial training with a life company in the UK before joining Zurich in the Isle of Man 16 years ago.

Zurich’s Actuarial Study Programme is renowned, and is structured to provide support to students during the several years they sit their exams. As well as providing educational support, the company offers a rotation programme across its Finance department, and a wider International Rotation Programme offering students the chance to gain international experience through two-year secondments across Zurich globally. Currently, one of its Isle of Man-based employees is working in Malaysia, with one of the Barcelona-based team having moved to the Island to cover his role.   

Neil’s appointment means there are further promotions within Zurich International Life’s Isle of Man-based Actuarial function. Tom Morfett has been appointed to Neil’s former role as Valuation Actuary, and Jordan Guthrie to Tom’s former role leading the Actuarial Management Reporting Team. 

An Oxford University Mathematics graduate, Tom is both a qualified Actuary and a qualified Accountant. He has more than ten years of industry experience, all gained whilst working in the insurance and financial services sectors on the Isle of Man.

Educated in Scotland, Jordan has a Masters in Mathematics from the University of St Andrews and an MSc in Financial Risk Management from Glasgow University. After working in the life insurance industry in the UK, he moved to the Isle of Man in 2013 to join Zurich and qualified as an Actuary last year.  

Commenting on his appointment, Neil said: “I am very excited by the opportunities and challenges that lie ahead in what is a time of change and evolution in our industry. I feel lucky to be inheriting a strong team here at Zurich which balances both a wealth of experience and new talent, and I think these promotions demonstrate our commitment to growing and developing talent from within.”

Zurich International Life’s Chief Financial Officer, David Peach, commented: “The promotions of Neil, Tom and Jordan to such senior roles within Zurich International Life demonstrate the strength of our succession planning and, on a personal level, I am very proud to see them moving on to another stage of their careers with the company. Zurich is the biggest employer of Actuaries and Actuarial students on the Isle of Man, and their success is a something for their fellow colleagues to aspire to.”   

Photo - (L-R) Jordan Guthrie, Neil Costa and Tom Morfett – Zurich International Life, Isle of Man.