insuranceNEWS.com.au is a free daily online news service for the general insurance industry. The website has more than 28,000 subscribers. In 2019 we published 2631 articles online. These were made up as follows:
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MOVING ON: WHELAN TO LEAVE ICA It’s been 10 years since Rob Whelan became Chief Executive of the Insurance Council of Australia (ICA), so when insuranceNEWS.com.au reported in early February that he is leaving, the story created a stir. ICA later announced that Mr Whelan, pictured, is leaving to “pursue new roles and opportunities”, with ICA President Gary
“Against a scorecard of lives lost, properties destroyed and saved, and communities torn apart, it continues to be abundantly clear that more needs to be done.” Suncorp Chief Executive Steve Johnston lets loose over government inaction on disaster resilience, adding that Australia must “pull its weight” on carbon emissions.
‘MASSIVE TALENT GAP’ LOOMING Recruitment group Hays has warned the insurance industry it will struggle to find skilled staff to handle dispute resolution, property claims and other key roles because of a long-running talent shortage. Filling broking and underwriting positions will also be difficult as the competition for capable employees intensifies, it says in a new report. “The broker market has seen
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dramatic changes in the past 12 months, which has resulted in the need for higher calibre candidates who can provide sufficient advice to their clients,” the report says. “The talent pool for experienced account executives and account managers remains small due to clear career progression pathways, high retention rates and generous salary packages.
“Available candidates are therefore overwhelmed with job opportunities, and consequently those employers who offer niche areas of expertise are more likely to secure good talent.” On property claims consultants, Hays says insurers may have to reassess their salary packages if they hope to attract strong 0 candidates.
AIG’S EXECUTIVE EXODUS
Daily
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Dransfield noting Mr Whelan’s tenure included “some of the most challenging and industry-defining periods, such as several devastating natural disasters and the financial services royal commission”. Mr Whelan is continuing in his role while the ICA board searches for his replace0 ment.
AIG’s International General Insurance Chief Executive Chris Townsend and Asia Pacific Chief Executive Sachin Shah
have both left the insurer to “pursue other opportunities”. Their exits last month followed that of Chief Executive Australia Noel Condon, who departed in December and was replaced by Fairfax Financial executive Nigel Fitzgerald. Mr Townsend, pictured, rejoined AIG in 2017 following a stint as President and CEO Asia for MetLife. Prior to that he had spent two decades with AIG in a number of high-profile roles, including Australia CEO and Hong Kong CEO. He recruited Mr Shah, who
was then running MetLife Japan, to join AIG. Mr Shah started in January last year, reporting to Mr Townsend. CEO Middle East and Africa Steven Barnett has taken over Mr Shah’s role and will report to acting International General Insurance CEO Lex Baugh from Singapore. AIG also announced it won’t be renewing its global sponsorship of the New Zealand All Blacks rugby union team when the current contract expires at the end of next year. It has been the major sponsor of 0 the team since 2012.
