NSW state-owned insurer icare has announced CEO Richard Harding has resigned and will leave the organisation in October.

Mr Harding joined icare in 2021 when the workers’ compensation provider was in crisis and under intense public scrutiny over its performance following the resignation of former CEO John Nagle.

The insurer says Mr Harding, previously CEO at Auckland-based Tower, implemented significant reforms.

“Richard’s leadership has been unwavering, with a focus on ensuring the organisation is providing the best possible outcomes for the people relying on the insurance schemes operated by icare,” Chairman John Robertson said today.

“He has shown resilience during some challenging times, resetting the organisation’s focus, stabilising performance and delivering on public expectations.”

insuranceNEWS.com.au understands that Mr Harding, who has more than 35 years of financial services experience, intends to take up board positions and told staff he is leaving for "purely personal reasons".

Mr Robertson says icare has introduced a new claims model that will generate improved outcomes for injured workers and the organisation is in a “solid position” to keep improving.

“In particular, Richard has led a significant improvement within the icare culture, creating an open, transparent and constructive environment that enables people to make a difference,” he said.

icare will start looking for a new CEO and says it will provide an update when the process is complete.

“Everyone at icare has consistently focused on delivering better outcomes for the people we serve,” Mr Harding said. “I’m proud of what we have all achieved together and look forward to seeing momentum build, and the team continue delivering better outcomes for vulnerable people.”

Mr Harding took over the top role from Don Ferguson, who became interim CEO after Mr Nagle departed following an appearance before a NSW parliamentary committee hearing.