Former Sompo Exec Chang Moves to WTW

Michael Chang, former CEO of Sompo International’s Global Risk Solutions business, has been hired by WTW as head of Corporate Risk and Broking (CRB) North America.

Chang was at Sompo for six years, where he was also co-leader of Global Insurance. Prior to Sompo, he spent nearly 20 years at Chubb in various senior roles, primarily in the large account space, including the leadership of Chubb’s Commercial Insurance Global Risk Management Group and Global Real Estate Unit.

“He has a formidable reputation and a global perspective across the spectrum of both underwriting and distribution that will be of immense value to us” said Adam Garrard, head of CRB, in a statement on Chang’s hiring. “In particular, his experience of developing both industry and product specialization will help accelerate our strategy across North America, driving better outcomes for our clients. Michael’s background in technology, specialization, and data and analytics, combined with strong client connections, aligns perfectly with WTW’s client advisory proposition. Michael’s arrival is just another example of WTW being a magnet for talent, especially those who embrace innovation and forward-thinking.”

WTW said Chang, who will also become a member of the company’s Global Leadership Team, has been a “pioneer of industry specialization” in many lines of business, and an early adopter of the data and analytics-based approach that WTW uses. Chang began his career as a financial analyst and holds a degree in Multinational Business Management from Wharton. He is also a long-time advocate of developing meaningful and impactful Inclusion and Diversity programs and his work in this area is recognized throughout the insurance sector.

Current head of CRB North America, Mike Liss, announced his intention to retire in mid-2023 after 16 years with WTW as part of a four-decade-old career, the company said. He led and developed WTW’s Midwest region from Chicago before taking on the head of CRB North America role in 2016. CRB North America today is comprised of more than 3,000 people in 63 offices across the U.S., Canada, and Bermuda.

“Mike’s leadership during the last few years – particularly during the tremendous challenges that COVID-19 posed across North America – has been nothing short of outstanding. He will be handing over leadership of a strong performing business which Michael can now lead on the next stage of our journey,” Garrard said. Liss will stay with WTW until his retirement is official.

Chang said it is an exciting time to join WTW as “the risk landscape continues to evolve at a seemingly ever faster pace and one in which traditional insurance solutions are no longer the only answer.”

“WTW is a unique player in the industry. It’s focused first and foremost on people, technology, data and analytics, and client advisory, then solutions, and all underpinned by deep industry specialization and technical knowledge,” he said. “This is the future of broking and what clients are looking for. I’m looking forward to joining WTW as it looks to redefine our industry.”