Duncan West will become chairman at Suncorp when Christine McLoughlin retires after a decade on the board.  

Mr West has been a Suncorp director since September 2021 and is chair of the risk committee and a member of the audit committee.  

He is a past president of the Australian and New Zealand Institute of Insurance and Finance and has more than 40 years’ experience in financial services across director and senior executive roles.

Mr West was Hollard chair from 2015 to 2021, CGU Insurance CEO from 2008 to 2011 and Vero Insurance CEO from 1998 to 2007.

He was also EGM of insurance at MLC Wealth from 2011 to 2013.

He is chair at Challenger, and previously chaired Lawcover Insurance and Habitat for Humanity Australia. He has worked as Genworth Mortgage Insurance Australia CEO and was at Royal Sun Alliance in the UK and India.

“It is a privilege to have the opportunity to guide Suncorp as a dedicated general insurance company, continuing to deliver outcomes for shareholders, customers and communities,” Mr West said.

Ms McLoughlin has been chair for seven years and recently oversaw the sale of Suncorp Bank and return of capital to shareholders.

She says Suncorp is now a “significantly more resilient business”, aided by investment in transformative technology.

“I am proud of the value that has been delivered to our shareholders, through a period when we have faced significant challenges ... and a very complex process to sell Suncorp Bank,” Ms McLoughlin said.

“We have led Suncorp through a significant transformation to become a pureplay general insurance company ... I am confident Duncan and our CEO Steve Johnston together will continue to lead the business successfully into its next chapter.”

Mr West will take the new role from September 25.