Legal chief leaves financial giant
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.