BREAKING NEWS: Major player poaches key division CEO

BREAKING NEWS: Major player poaches key division CEO | Insurance Business

BREAKING NEWS: Major player poaches key division CEO
Executive changes at IAG continue as the company has announced that Mark Milliner, former CEO of Suncorp’s Personal Insurance business, will join the company as chief operating officer.

Milliner, who had worked for Suncorp for 21 years, will join IAG in mid-2016 and will report to new IAG CEO and managing director, Peter Harmer.

Milliner has been replaced at Suncorp by Gary Dransfield, currently the interim CEO of Suncorp Life as Jeremy Robson, CFO of Suncorp Life, will act as CEO of the Life business in a care-taker capacity until a permanent candidate is appointed, the insurer said in a statement to the ASX.

Full details of Milliner’s portfolio in his new position will be revealed later this year as Harmer stressed the opportunity to appoint such a senior executive was too good to miss.

“Mark is one of our sector’s leading executives and we are delighted he has chosen to join IAG,” Harmer said.

“His experience in leading and growing insurance businesses and his passion for customer service will be a tremendous asset as we continue to build up our business for future success.”

The move marks the first major move of the tenure of new CEO and managing director of the Suncorp Group, Michael Cameron, who stressed that Dransfield’s experience, will see him well placed to build on an already successful business.

“Gary is an outstanding and experienced executive and I am confident his leadership and track record will build on the momentum we already have in the business,” Cameron said.

Cameron thanked Milliner for his 21 year career at Suncorp and his six years as CEO of the personal insurance business.

“Mark leaves behind a strong team and a business in robust condition,” Cameron continued.

Dransfield, who has held senior positions at IAG, AMP and St. George Bank and will take charge of the business effective today, said that he is excited by the opportunity to lead the personal insurance business.

“I’m excited by the future of Suncorp’s Personal Insurance business and a delighted to lead a passionate team, fiercely committed to innovation, driving change and delivering greater value for our customers.”

The move continues a trend at IAG of a changing management team as Harmer will be joined by a new chairman following the announcement last week that Brian Schwartz will stand down.

Yesterday, it was announced that chief strategy officer, Leona Murphy, will also leave the business to pursue other career options.

Milliner was not available for comment when contacted by Insurance Business.