.jpg)
Insurance firm Tower has announced the appointment of Marcus Nagel as a non-executive director.
Nagel, currently external senior advisor at Bain Capital, brings significant insurance-industry experience to the Tower board. He served in various leadership positions for Zurich in Europe, including his most recent role as chief executive officer of Zurich Germany, managing both life insurance and general insurance.
Nagel was nominated by Bain Capital to represent its stake in Tower.
“Mr Nagel will not be considered an independent director, and Tower’s board and Bain Capital have agreed and implemented necessary governance and confidentiality protocols to protect the interests of all shareholders,” Tower said.
Tower said its board believes Nagel’s depth of knowledge and experience will contribute to the insurer’s success as a digital challenger brand. Appointed to the Tower board to fill a casual vacancy, Nagel will retire and be available for re-election at the upcoming annual shareholder meeting scheduled for Feb. 19.
