The Insurance Council of Australia (ICA) has appointed Nathaniel Simpson, CEO of Youi, as a non-executive director on its board.
Simpson (pictured) takes over the position vacated by Peter Kelaher, who recently stepped into a new role as division president for Continental Europe, the Middle East, and North Africa at Chubb.
Simpson, who assumed leadership at Youi in July 2023, brings extensive industry experience, including a career spanning roles in Australia and South Africa. Prior to his appointment as CEO, he held various executive positions at Youi.
Recently, he co-chaired the ICA’s US study tour, which focused on regulatory and market insights in Washington, DC, and California.
“Nat has a breadth of knowledge and experience of the insurance industry, and I am pleased to welcome him to the ICA board,” said ICA president Nick Hawkins.
He also expressed appreciation for Kelaher’s service, stating: “Peter’s 20 years of industry experience has been of great benefit to the board, and we wish him all the best in his new role.”
Simpson said his new role presents an opportunity to help address industry challenges and promote consumer-focused practices.
“Youi has always been a strong advocate for consumer-centric practice and fair competition. I look forward to working alongside the ICA board, driving positive change and better outcomes for consumers across Australia,” he said.
Simpson’s appointment follows the announcement that Steve Johnston, CEO and managing director of Suncorp Group, will assume the role of chair of the ICA board on Jan. 1.
He succeeds Hawkins, CEO and managing director of Insurance Australia Group (IAG), who has led the board for the past two years.
Johnston, a member of the ICA board since August 2021, steps into the position during a critical period for the industry.
The ICA is currently implementing reforms to the General Insurance Code of Practice, aimed at strengthening consumer protections. These changes focus on areas such as financial hardship, claims handling, and support for vulnerable customers.
It has also announced a change in leadership titles, moving from “president” to “chair,” aligning with contemporary governance practices.
