Former QBE Insurance chief executive officer Pat Regan, who left the company following a complaint by a female employee, has put his luxury apartment in Sydney’s Point Piper up for sale.
Regan’s harbourside apartment has three bedrooms, three bathrooms, and a two-car garage. It is in the exclusive Kilmory Estate at 3/6 Wentworth Street and has a $6.5 million to $7 million price guide, according to Sotheby’s International managing director Michael Pallier, as reported by realestate.com.au.
Regan joined QBE in 2014 and took up the CEO role in 2018. With his departure, he received a payment of $310,000, in place of a reduced notice period, and his statutory leave entitlements.
Regan’s departure from QBE Insurance has been a hot topic recently as he left the insurer following a complaint by a female employee and the outcome of an external investigation into workplace communications.
QBE confirmed that its board had taken “decisive action” following an external investigation, pointing out that Regan’s communications “did not meet the standard set out in the group code of ethics and conduct.”
“We are committed to having a respectful and inclusive environment for everyone at QBE. The board concluded that he had exercised poor judgement in this regard,” said QBE chairman Mike Wilkins, as reported by The Guardian.
“While these are challenging circumstances, the board recognises and thanks Mr Regan for his hard work and contribution to strengthening QBE. However, all employees must be held to the same standards.”