Eric Kirsch was named chief investment officer at Aflac, overseeing its $93 billion portfolio after it posted losses tied to investments in banks from Greece, Ireland and Portugal.
Mr. Kirsch was global head of insurance asset management at Goldman Sachs Group, where he oversaw about $75 billion for clients. At Aflac, he will replace Jeremy Jeffery, who will be senior vice president of fixed income, according to a statement from Aflac.
Mr. Kirsch will review hiring outside firms to help manage as much as 10% of the company’s portfolio. The insurer, which gets most of its revenue in Japan, was burned by investments in European banks that issue debt in yen.