Insurer CEO becomes first major casualty of acquisition

Insurer CEO becomes first major casualty of acquisition | Insurance Business

Insurer CEO becomes first major casualty of acquisition

Lumley General Insurance NZ CEO John Lyon has today handed in his resignation after more than six years in the role, Insurance Business New Zealand can reveal.

Separate sources say that Brett Cowley, Lumley Manager - Broker Small Business Team, is also leaving to join Crombie Lockwood.

The news comes just over two weeks after the merger deal with IAG was completed.

IAG spokeswoman Denise Bailey confirmed Lyon’s departure.

She said: "We have a great deal of respect for John and support the personal decision he’s made to embrace opportunities that lie outside of IAG.

"We also acknowledge and thank him for the support and professionalism he provided to IAG during the acquisition of Lumley."

Lyon previously worked for Vero for 17 years, most recently as EGM, Insurance Services.

His official leaving date is 1st August 2014.

See Monday's newsletter to read about the effects of the deal on Australia.