As global life insurers restructure operations and consolidate financial hubs, they’re facing a growing challenge: finding CFOs who can operate seamlessly across regulatory, cultural, and commercial boundaries.

This is where the bi-cultural CFO is stepping into the spotlight. Leaders who combine deep technical expertise in both U.S. GAAP and Solvency II, while understanding the cultural nuances of managing multinational teams, are no longer a “nice to have.” They are becoming essential for life insurance boards planning for the future.

So why is demand for this rare profile surging? And how can firms secure these leaders before succession gaps threaten stability?

A Changing Global Landscape for Life Insurance Finance

Over the past decade, many global life insurers have shifted to regional or centralised finance hubs. Cost efficiency, improved governance, and standardised reporting have driven this change.

But with that efficiency comes complexity. Finance leaders now need to manage teams spread across the US, Europe, and Asia-Pacific. They are expected to harmonise reporting under U.S. GAAP for North America, Solvency II for Europe, and emerging standards across APAC. The introduction of IFRS 17 has only added another layer to the mix.

Premium growth spotlight: According to Swiss Re, life insurance premiums are projected to grow at approximately 3 % per year in 2025–26, more than doubling the industry’s prior decade average.

Global revenue scale: Industry analysts at IBISWorld report global life & health insurance revenue reached around US $5.5 trillion in 2024, with modest annual growth.

These structural changes are also creating new leadership demands. Boards want CFOs who can balance local regulatory compliance with global commercial priorities and who can build cohesive cultures in teams that may never meet in person.

Why Bi-Cultural CFOs Are in High Demand

The rise of the bi-cultural CFO reflects the evolving nature of finance leadership in life insurance. These are leaders with rare capabilities:

1. Technical fluency across regulatory frameworks

A modern CFO must move confidently between U.S. GAAP reporting, Solvency II capital requirements, and CRO-driven risk frameworks. Many also need to oversee IFRS 17 implementation in APAC markets. It’s not just about understanding numbers; it’s about managing regulatory expectations and aligning them with shareholder interests across continents.

2. Cultural agility in global teams

Finance teams are increasingly diverse, both geographically and culturally. CFOs are expected to lead across time zones, languages, and working styles. Those with international career paths and proven cross-border leadership are better equipped to create alignment and cohesion.

3. Adaptability to digital and ESG shifts

Boards are asking CFOs to integrate AI-driven reporting tools, sustainability-linked metrics, and ESG reporting into their strategies. Leaders who understand these trends and can embed them into finance operations are standing out.

The Talent Challenge: Why This Profile Is So Rare

Finding CFOs who tick all these boxes is no easy task. The global talent pool is limited, and many senior finance leaders have developed careers focused on a single region.

Generational turnover is also contributing to the challenge. As seasoned CFOs retire, there aren’t enough successors with the breadth of experience to step in. Internal pipelines often lack candidates with the necessary cross-market exposure, leaving boards reliant on external searches for these critical roles.

How Eliot Partnership Helps Clients Find Bi-Cultural CFOs

At Eliot Partnership, securing a bi-cultural CFO isn’t left to chance. We apply our full global resources and specialist know-how to discover and assess the rare leaders who can navigate dual regulatory environments and lead diverse teams.

A truly global platform

We operate through six connected offices – New York, London, Bermuda, Singapore, Zurich, and Sydney – but globally we work as one single team with shared goals. This structure means each consultant, whether in North America, EMEA, or APAC, is focused on the same outcome: finding finance leaders with a blended understanding of U.S. GAAP, Solvency II, and international risk frameworks. Sharing market insight across geographies is built into our way of working.

Industry insight with deep life insurance expertise

Our teams are embedded in life insurance, covering finance, actuarial, risk, and board-level searches. With directors and consultants specialising in life insurance across regions, we have both the technical fluency and relationships to approach candidates others can’t. This insider knowledge helps us identify leaders with embedded experience in multi-regulatory and cross-regional roles.

A six-stage executive search designed for complexity

Our executive search process goes deep:

• Briefing: We work closely with boards to align on technical requirements, regional expertise, and cultural fit.
• Research: Within weeks, we deliver a comprehensive long-list, combining global market mapping with local insight.
• Shortlisting: We identify candidates who not only meet technical needs but also demonstrate a proven ability to operate across markets.
• Assessment and interviews: We evaluate how candidates approach multi-regional regulatory challenges and lead in complex, dispersed environments.
• Offer management and onboarding: We support clients through every step, ensuring a smooth transition for the successful hire.

Rigorous technical and cultural assessment

We go beyond technical capabilities. Our evaluations consider a CFO’s ability to reconcile U.S. GAAP financials with Solvency II models, lead hybrid teams across borders, and integrate ESG and digital finance initiatives into strategy. Reference checks and in-depth interviews are designed to uncover both technical depth and cultural agility.

Creative, lateral search thinking

Identifying hybrid CFOs means exploring beyond the obvious talent pools. We track leaders who have transitioned between regions, held international secondments, or led global centres. This lateral approach helps us uncover candidates with the right mix of cross-border experience and leadership capabilities.

Follow-through beyond placement

Our commitment doesn’t end with a signed contract. We remain engaged during onboarding and the first months in role to support integration and success. This follow-through is particularly valuable when a CFO is tasked with building or restructuring a finance hub across continents.

Executive talent advisory for long-term succession

Where internal pipelines need strengthening, our Talent Advisory team supports boards with succession planning, talent mapping, and benchmarking. This ensures organisations are prepared to build or attract the next generation of global finance leaders. Learn more about our approach to talent advisory here.

Preparing for the Future: What Boards Should Do Now

The bi-cultural CFO is no longer a luxury in global life insurance. It’s a necessity for organisations seeking stability, compliance, and growth in an increasingly interconnected world.

For boards and senior executives, succession planning for these roles needs to start early. Building internal talent pipelines can help, but in many cases, external searches will be required to bridge immediate gaps.

Consider secondments and international assignments for rising finance leaders to give them exposure across regulatory and cultural landscapes. And where internal pipelines are not yet robust, partnering with an executive search firm experienced in navigating these complexities is key.