February insurance transitions

Check out the latest movements and transitions within the industry so far this month.

IAG appoints Chief Risk Officer

IAG Managing Director and CEO Peter Harmer has announced the appointment of David Watts as IAG’s Chief Risk Officer, effective 11 September 2018.

Watts will join IAG from Westpac, where he was General Manager, Portfolio Integrity, reporting to the Chief Executive Officer of the Consumer Bank.

In his new role, he will be a member of IAG’s Group Leadership Team, reporting to Harmer.

Welcoming Watts to IAG, Harmer said: “David has a strong understanding of, and passion for, governance and risk. We look forward to him joining our team, and benefiting from his expertise.”

Watts has held a number of senior roles in risk and governance areas at Westpac, including Group General Manager – Regulatory & Governance, and Group General Manager, Enterprise Risk. He joined the bank in 2009 as Chief Risk Officer for Westpac Banking Group in New Zealand.

IAG appoints Group Executive Technology

IAG Managing Director and CEO Peter Harmer has appointed Mr Neil Morgan as Group Executive Technology effective immediately.  In this newly created role, Morgan will report directly to Mr Harmer and join IAG’s Group Leadership Team.

As Group Executive Technology, Morgan will be responsible for implementing IAG’s technology strategy across the company. He was previously Chief Technology Officer in IAG’s Australia Division on a 12-month secondment from PwC.

At PwC Morgan led the firm’s Technology Strategy business in Australia. Prior to that, he spent over 10 years at Accenture, leading an industry team across the Asia-Pacific region to deliver technology and business-led transformations.

Harmer said Morgan’s appointment underscores the importance of technology to the future success of the business.

“Neil’s appointment to this new company-wide position recognises the critical role technology plays in driving our efforts to be a more agile organisation, and achieving our corporate strategy as we move from being a product-focused to a customer-centric business.

“With extensive experience in technology and business-led transformation, Neil will be a valuable addition to our leadership team,” Harmer said.

New CEO for Aon in Australia

Aon has announced  a new CEO for their Australian business with current CEO Lambros Lambrou leaving the post to transition into “a broader role with the global business”, the firm said in a statement.

Lambrou will be replaced by James Baum, who currently holds the roles of managing director, commercial, as well as chairman of Aon Broking, Pacific.

Bill Hooper, currently chief financial officer and chief operating officer at Aon Pacific, will add new responsibilities to his current role in the wake of Lambrou’s departure, the firm also announced.

Hooper will represent the Pacific region on the global Aon Risk Solutions operating committee and will work closely with Baum as he transitions to his new role, the firm said.

QBE announces people moves  

QBE has appointed two new General Managers to its Intermediary Distribution leadership team, as well as created two new portfolios in its Australian and New Zealand Operations.

Rebecca Engel has been appointed to the role of General Manager Underwriting Agencies, reporting in to Executive General Manager Intermediary Distribution Jason Clarke. She will be responsible for working closely with key partners in the Underwriting Agency space to enhance relationships, drive customer focus and identify growth opportunities.

Further, Dean Cullen will take on the role of General Manager Specialty, including aviation, marine, construction, warranty and professional lines and will also report to Jason Clarke.

Given their specialised nature, these teams will be incorporated into the Specialty team in an expanded portfolio.

In addition to the GM appointments, QBE announced the creation of two new portfolios, as the business looks to arrange itself to deliver the best possible outcomes in line with its strategic priorities.

A new team called People Risk has been created, headed up by General Manager, Adam Farr. This combines the Workers Compensation and Accident and Health teams given the alignment between the two areas.

Financial Institutions and Direct Consumer business units will combine as Consumer, Affinity and Banking Partnerships, in an expanded portfolio for General Manager Eleanor Debelle.

Debelle and Farr will continue to report to Executive General Manager Consumer and Retail Partners, Andrew Broughton. ANZO CEO Vivek Bhatia said the changes would better align teams to take a more customer-centric approach. “Our strategy is about putting the customer at the heart of what we do and these changes mean we will be organised in a better way to deliver on that.”

The changes will take effect from Monday, 19 February.