Tim Plant has been promoted to CEO of QBE’s Australian and New Zealand operations, replacing Colin Fagen who moves into a new role as Group Chief Strategy Officer.

Mr Plant, current head of the insurer’s Corporate Partners and Direct business, has more than 20 years’ experience in international insurance and reinsurance including more than 13 years with QBE.

Group CEO John Neal says that Mr Fagen will be responsible for leading major growth and efficiency initiatives across QBE globally.

“Colin has done an excellent job leading our Australian and New Zealand Operations to consistently profitable performance over the last four years,” he said.

“I am delighted that Colin has agreed to take on this broader role with international responsibility and we look forward to his ongoing contribution to our global business.

“Promoting Tim into the role of CEO for Australian and New Zealand Operations was a logical decision given his strong contribution to QBE and his leadership of our Corporate Partners and Direct business.”

Both roles are effective from August 18.

More information in our regular bulletin on Monday.