Insurance Transitions for September

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

ASIC Deputy Chair resigns

Peter Kell has announced his resignation as Deputy Chair of the Australian Securities and Investments Commission (ASIC), following seven years of service.
Since beginning his tenure in 2011, Kell has been part of ASIC’s leadership team, first as a member and then from 2013 as Deputy Chair.

Kell’s experience and understanding of corporate regulation has been appreciated by successive governments as well as members of ASIC and his resignation will be effective from 6 December.

Treasurer Josh Frydenberg said, “The coalition government thanks Mr Kell for his contribution to ASIC and wishes him well in his future endeavours.”

New CEO at Lloyd’s

Lloyd’s of London has named John Neal as its new chief executive officer, succeeding Inga Beale at the helm of the world’s oldest and biggest insurance market.

Neal was the CEO of QBE for five years before stepping down in December 2017 following a profit warning. “John will continue Lloyd’s focus on delivering sustainable profitability,” Chairman Bruce Carnegie-Brown said in a statement. “An immediate priority will be the successful launch of Lloyd’s Brussels subsidiary, which will enable Lloyd’s to continue serving its customers in the European Economic Area after Brexit.”