Insurance Transitions for October 2019

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

APRA announces new executive roles

The Australian Prudential Regulation Authority (APRA) has announced a number of new executive appointments, reflecting a new organisational structure.

APRA Chair Wayne Byres said the changes will assist APRA to maintain its focus on protecting the financial well-being of the Australian community, while sharpening focus and lifting capabilities in supervising newer and emerging risks.

“These organisational changes are designed to help us to deliver on our strategy and in particular on the four key community outcomes we have identified as critical for APRA to deliver for the Australian community: financial system resilience, superannuation member outcomes, enhanced GCRA across the regulated sector, and cyber resilience,” Byres said.

Under the new structure, each of APRA’s six operating divisions will be led by an Executive Director, with the following appointments made:

  • Sean Carmody has been appointed as Executive Director, Cross-Industry Insights & Data;
  • Brandon Khoo has been appointed to the role of Executive Director, Insurance;
  • Therese McCarthy Hockey has been appointed as Executive Director, Banking;
  • Suzanne Smith has been appointed as Executive Director, Superannuation; and
  • Steve Matthews has been appointed Chief Operating Officer and Executive Director, Enterprise Services.

Heidi Richards will act in the role of Executive Director, Policy & Advice pending a permanent appointment to that role.

The new appointments and organisational changes will formally take effect from 1 December.

Willis Towers Watson announces several key executive appointments

Willis Towers Watson (WTW) has announced the appointment of Kosta Savidakis as Head of Workplace Risk, one of several key executives joining us in Australia.

Simon Weaver, Head of Australasia, says Kosta joins Matthew Frost, Paul Bradley and Adam Rhodes in taking up senior positions at WTW. “We are delighted to attract people of this calibre to Willis Towers Watson; their local and regional market knowledge and depth of industry relationships will add significant value to our clients and complement our existing teams.”

Kosta joins WTW from another international broker, where he is currently Principal, Workforce Strategies. He also spent time at CGU where his last role was National Client Services head of Workers’ Compensation. He will be based in Sydney and commence his role in late November, with a remit of further strengthening WTW’s people offerings.

WTW has also appointed Paul Bradley as Victoria and South Australia General Manager of our Corporate Risk and Broking offering. Paul has significant experience working for major international brokers. In recent times Paul has held senior leadership roles, of other major broking businesses in Australia. Paul commences with WTW on 21 October and will be based in Melbourne.

In Western Australia, Adam Rhodes will take up the role as State General Manager as of 7 October. Adam joins WTW from Origin Insurance Brokers, where he has held the position of Managing Director. Origin is Australia’s first Aboriginal owned corporate insurance broker, which operates on Porter’s principle of ‘shared value’ by developing opportunities for indigenous professionals and using insurance as a vehicle to increase cultural awareness, diversity and inclusion.

Prior to his role at Origin, Adam has held senior leadership roles with other international brokers. He commenced his working career with Minter Ellison as an insurance litigation solicitor, before moving into the broking industry.

Additionally, as part of WTW’s commitment to inclusion and diversity, we look forward to drawing on Adam’s knowledge, experience and passion around I&D.

Matthew Frost commenced his role as Head of Risk Advisory Australasia, on 1 October. Matthew will be based in Melbourne and further the development and deployment of WTW’s risk advisory services for clients across the region. Matthew joins uWTW from BHP where he spent 17 years, most recently as Vice President of Risk Finance.

Chubb appoints a new head of claims, Australia & New Zealand

Simon Priebbenow has been appointed as Head of Claims, Australia & New Zealand. In his new role, Priebbenow will report to Jarrod Hill, Chubb’s Country President for Australia & New Zealand, with a matrix report to the previous incumbent, James Flaskett, Chubb’s Regional Head of Claims for Asia Pacific.

Priebbenow has been with Chubb since 2004 and has extensive claims experience both in Australia and overseas. His career with the company has included working as Vice President Claims Service Development in Chubb’s international division; Head of Claims for Latin America; Asia Pacific Claims Operations Manager; and Australia’s Claims Operations Manager.

On this new appointment, Hill said, “Excellence in claims remains a strong differentiator for Chubb. Our claims team offers a service we are very proud of and the Head of Claims has a critical leadership role in this.”

“In welcoming someone of Simon’s calibre and depth of claims experience back into the Australian business, I have no doubt that our broker partners and customers will continue to experience great outcomes as we deliver on our promise to pay.”