Le­gal chief leaves fi­nan­cial gi­ant

Herald Sun - - COMICS & STARS -

IN­SUR­ANCE Aus­tralia Group’s le­gal chief is leav­ing the fi­nan­cial ser­vices heavy­weight.

IAG yes­ter­day told share­hold­ers group gen­eral coun­sel and com­pany sec­re­tary Chris Ber­tuch, who has been on leave, will now exit the com­pany on Septem­ber 30.

In a state­ment to the Aus­tralian Se­cu­ri­ties Ex­change, the in­surer said Mr Ber­tuch made the de­ci­sion while on ex­tended leave.

His de­par­ture leaves a va­cancy at the group just as the fi­nan­cial ser­vices royal com­mis­sion turns its fo­cus to Aus­tralia’s $5-bil­liona-year in­sur­ance in­dus­try.

IAG chief Peter Harmer Mr Ber­tuch had been a key mem­ber of his lead­er­ship team and “led a num­ber of land­mark trans­ac­tions which have trans­formed IAG, ce­ment­ing our po­si­tion as Aus­tralia and New Zealand’s lead­ing gen­eral in­surer”.

Among them were IAG’s 2014 ac­qui­si­tion of Wes­farm­ers’ in­sur­ance un­der­writ­ing busi­ness, the Berk­shire Hath­away re­la­tion­ship in 2015 and, last month, the buy­out of IAG’s op­er­a­tions in Thai­land, Viet­nam and In­done­sia, last month, Mr Harmer said.

Mr Ber­tuch also founded IAG’s Ethics Com­mit­tee in 2016, set up its first Rec­on­cil­i­a­tion Ac­tion Plan in 2013 and has over­seen the com­pany’s prepa­ra­tion for the royal com­mis­sion.

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