Prime Minister Anthony Albanese has today named Daniel Mulino as Assistant Treasurer and Financial Services Minister.

Dr Mulino chaired the recent House of Representatives Economics Committee inquiry into insurers’ responses to the 2022 floods and was considered a likely contender for the financial services role.

Insurance Council of Australia chair and Suncorp CEO Steve Johnston said before the announcement that he would welcome Dr Mulino’s appointment, and applauded the way he conducted the floods inquiry.

“I think he did it constructively, and I think ultimately the quality of that document was all the better for the approach that he took,” Mr Johnston told insuranceNEWS.com.au.

“He’s no easy touch for the industry. He’s pretty aggressive, pretty focused on making sure the industry does better, but he does it in a very constructive way.” 

Dr Mulino was elected to federal parliament in 2019 and holds the Victorian seat of Fraser, which was affected by the Maribyrnong floods in 2022. He is an economist by training, with a PhD from Yale University, and has lectured at Monash University.

Previous assistant treasurer and financial services minister Stephen Jones did not recontest his seat at this month’s federal election.

Mr Albanese has confirmed Jim Chalmers will continue as Treasurer and Katy Gallagher as Finance Minister.