Papua New Guinea’s Alpha Insurance Group has appointed Mike Sherwood as CEO, as it prepares to launch in Australia.

Mr Sherwood has more than 30 years’ industry experience including time at QBE as president-director of Indonesia and GM of underwriting for the Asia and Pacific division.

“Alpha already has firm plans to move into the Australian market,” Alpha executive chair and owner Bruce Avenell said.

“Mike’s appointment positions us well for the future and begins a new era for the [business] under his leadership. I welcome Mike and look forward to working with him as we navigate strategic growth considerations in the ever-challenging world of changing and emerging risks.”

Mr Avenell acquired the insurer in a management buyout from AIG Singapore in August 2016, according to his LinkedIn. He changed the name from AIG PNG and has expanded it through acquisitions.

In 2022 Alpha bought Tower’s PNG subsidiary and the following year it purchased QBE’s businesses in PNG, the Solomon Islands and Vanuatu.