QBE Australia Pacific CEO Sue Houghton plans to retire at the end of the year after more than five years with the insurer and a financial services career spanning more than three decades.

The company says Ms Houghton has led a modernisation agenda and helped position the business for long-term success in a rapidly evolving market.

“She has built a simpler, stronger business and delivered meaningful progress across a range of strategic priorities,” group CEO Andrew Horton said.

“Her leadership, judgment and commitment to customers, our people and our business have left a lasting impact on QBE.”

Ms Houghton joined QBE after heading Westpac’s insurance operation and was previously chief financial and operating officer for Arthur J Gallagher in Australia and New Zealand. She has also held senior positions at Wesfarmers Insurance and IAG.

QBE says to ensure an orderly transition and continuity of leadership, Ms Houghton will remain in the role while it searches for her successor.