QBE is searching for a new Australia Pacific CEO after Sue Houghton last week announced plans to retire.

The insurer says Ms Houghton will remain in the role while it finds her successor, to ensure an orderly transition and continuity of leadership.

Ms Houghton – who plans to step down at the end of the year – has spent more than five years with QBE, which she joined after heading Westpac’s insurance operation. She was previously chief financial and operating officer for Arthur J Gallagher in Australia and New Zealand, and has held senior positions at Wesfarmers Insurance and IAG.

QBE 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.”