Peter Daly retires after seven-decade career
Peter Daly is retiring as Chairman of Aioi Nissay Dowa Insurance Company Australia, which trades as Adica Insurance.
Mr Daly, who has held the Chairman role since August 2008, is replaced by Sally Freeman who joined Adica's board last year and was formerly a KPMG Australia Partner for 15 years.
“I started work in the insurance industry in 1952 (aged 16) and when I retire at the end of this year, it will be the end of a chapter in my life, having completed 70 years in the insurance industry,” Mr Daly tells insuranceNEWS.com.au.
“I have been the office boy and I have served on 29 boards - Chair of three general insurance companies. I have personally enjoyed every moment. I can assure you the insurance industry is certainly not a dull place and to the contrary, can be very exciting.”
Adica CEO & MD Dean Cullen says Mr Daly served as a mentor to many within the industry and was an early champion of gender equity, and oversaw the development of Adica over many decades from a handful of employees to a company of over 200 staff, insuring more than 290,000 vehicles.
“We at Adica are so grateful for Peter's contribution and support over his 15 years as our Chairman. Peter has guided Adica through its foundation to a company with sustained growth and a good standing in the Australian market today,” Mr Cullen said.
“We wish Peter all the best in his retirement and are thrilled to have Sally lead us through the next exciting phase of Adica's future.”
Mr Daly came to Australia in 1980 from South Africa and was appointed CEO and MD of Norwich Winterthur Group in 1983. His father and four brothers all worked in insurance.
He was Insurance Council of Australia (ICA) CEO from 1991 to 1997, and its President from 1986 to 1987.
Mr Daly was the inaugural Chairman of the Financial Ombudsman Service – a forerunner to the Australian Financial Complaints Authority (AFCA) – retiring on 1 June 2009, as well as HDI-Gerling Australia Insurance Co Chairman, and Australian Landscape Trust Chairman.
Mr Daly was awarded the Order of Australia for services to the insurance industry and to the community in 2004, particularly through the advancement of external dispute resolution and consumer protection.
Mr Daly was also awarded life membership of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) in 2017.