Andersen succeeds Peter Zaffino, who has moved into the role of executive chair.
The primary driver behind the deficit was a $727.6m net investment loss, triggered by a 5.2% drop in equity securities.
The company has named Amit Kalra as the head of Zurich Capability Centres, effective from 1 July 2026.
The deal is part of Newport's broader strategy to build a diversified MGA and specialty insurance distribution network.
