Sterling Insurance MD and chair Tony Parington will leave at the end of this month after 23 years with the specialist underwriting agency.

Mr Parington has continued leading the agency since ATC Insurance acquired it for $33.2 million in June last year.

Now, ATC chief commercial officer Shane Sheppard will become chair of the agency, supported by an executive team including liability underwriter and director Linda King and liability head and director James Emerson.

“Sterling Insurance is entering an exciting new chapter under Shane’s chairmanship, building proudly on Tony’s legacy with the continued support of the ATC Group,” ATC said.

“[Mr Sheppard’s] appointment … reinforces Sterling Insurance’s ongoing commitment to strong governance, strategic growth and building on the foundations established over the past two decades.”

ATC has thanked Mr Parington for his stewardship of the business since the buyout. Highlights have included securing professional indemnity binding authority with Lloyd’s and expanding the national footprint with staff recruitment in Queensland, Victoria and WA.

“Tony has made an extraordinary contribution to Sterling over many years, and on behalf of the board, shareholders and staff, I thank him for the legacy he leaves behind,” Mr Sheppard said.

“Through his leadership, Sterling has built a reputation for underwriting excellence, strong broker relationships and exceptional service.”

Mr Sheppard says he looks forward to working closely with the agency’s management team.

“Sterling has an outstanding brand, highly talented people and a clear strategic direction. The business is extremely well positioned to capitalise on future opportunities while continuing to deliver specialist solutions and service excellence to brokers and clients.”