IAG reshuffles executive team

Insurance Australia Group (IAG) is set to reshuffle its executive team to reflect its long term business strategy.

IAG’s chief executive of commercial insurance, Peter Harmer, will lead the Group’s digital strategy over 2015. He will be succeeded by Ben Bessell, the current chief commercial officer who will step into Harmer’s role as acting chief executive commercial insurance.

Leona Murphy will assume the role of chief strategy officer while retaining her current responsibility for managing the programme to move to the new operating model and integrating the former Wesfarmers insurance business.

IAG’s chief risk officer, Justin Breheny, will retire in April with acting chief strategy officer, Clayton Whipp, appointed to the role.

“Over the past year we have taken the important steps of introducing a new Australian operating model as well as integrating the former Wesfarmers insurance business,” said managing director and CEO, Mike Wilkins.

“The appointments today build on the work we have done to ensure we stay relevant and customer-centric in a fast-changing and increasingly competitive environment.”

Wilkins also acknowledged the retirement of Breheny who headed up IAG’s Asian operations before his current role.

“Justin’s contribution to IAG, with his passion for growing the Asian business and depth of financial services experience, has been significant.  We wish him the best for his retirement,” he added.

The changes will be effective from March 31, 2015.