NIBA welcomes new ICA President

NIBA welcomes the appointment of Mr Colin Fagen as President of Insurance Council of Australia (ICA).

Mr Fagen, who is QBE’s Group Chief Operations Officer, has served as Deputy President since 2015 and will assume the role of Council President and Chairman of the Board from January 1, 2017. He has been appointed President for a two-year term.

NIBA CEO Dallas Booth, said of the appointment “Colin is highly regarded and respected in the industry, and I look forward to working with him in the future”.

Mr Fagen replaces IAG’s Chief Operating Officer, Mr Mark Milliner, who will complete his term as interim President on December 31, 2016. Mr Milliner will remain a Board Director.

Mr Niran Peiris, Managing Director of Allianz Australia, has been appointed Deputy President. The appointments were confirmed during a Board meeting in Sydney this week.

ICA CEO and Board Executive Director Rob Whelan said Mr Milliner had provided inspiring leadership during an exciting and testing time for the industry.

“The ICA is indebted to Mark for his guidance and leadership during his term as interim Board president since July 1. The industry is fortunate it will continue to benefit from his insights and expertise on the Board,” Mr Whelan said.

Mr Fagen said: “I’m pleased to accept the role of ICA President, and look forward to working with the Board and the ICA’s executive team to ensure the insurance sector is recognised for its significant contribution to our society. On behalf of the Board I would like to thank Mark for his service, and hope to continue his fine work.

“General insurers will face many challenges over the next two years. The expectations from various stakeholders including government, regulators and consumer representative groups of the financial services sector has rarely been higher. Issues including climate change, affordability, disclosure and mental health remain high on the public agenda.

“The ICA Board has a special responsibility to guide the industry so it can remain sustainable, while engaging with governments and stakeholders to help create stronger and more resilient communities.”