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IAG recruits Tim Plant for new strategic role

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IAG says it has recruited Tim Plant as Chief Insurance and Strategy Officer, and he is expected to start in the newly created role before the end of the year.

As reported in a Breaking News bulletin last week, IAG announced the appointment of Mr Plant, who will be leaving his role as Zurich Australia General Insurance CEO after three years with the Swiss insurer.

Before Zurich, Mr Plant was Group Executive Insurance for icare with responsibility for the largest public sector self-insurer in Australia. And prior to icare, he held senior roles at QBE between 2009 and 2016.

When he starts at IAG, he will be part of the executive team led by MD and CEO Nick Hawkins.

Mr Plant will be accountable for group governance across underwriting, claims and customer experience, together with developing and driving the implementation of IAG’s strategy. He will also be responsible for IAG’s innovation and ventures activities.

“[He] brings a considerable depth of underwriting and insurance experience, as well as a deep understanding of customer needs through his leadership roles in the Australian and New Zealand general insurance markets,” Mr Hawkins said.

“[His] experience will further bolster IAG’s leadership and I look forward to welcoming [him] to the team.”

One insurance analyst, who asked not to be named, says the appointment of Mr Plant shows Mr Hawkins is still strengthening his senior management team since taking on the CEO role last November.

The analyst told he sees the appointment also as possibly a long-term strategic move by IAG.

“Clearly IAG is in the process of strengthening its senior management bench, creating a broad range of highly respectable internal candidates to eventually succeed its recently appointed CEO years down the track when the board again needs to consider management succession,” the analyst said.