Allianz has appointed Daryl Madden as CEO of the Territory Insurance Office (TIO), effective from August 31.

Mr Madden joined Allianz in 2011 as group manager reporting and planning, and most recently has been Acting GM for Policy Services.

“We have given considerable thought to the future requirements of TIO and Territorians, and I am confident Daryl will be an excellent leader for TIO,” Allianz Australia MD Niran Peiris said.

“We are progressing well with our plans for TIO and have already delivered a number of new product offerings to Territorians.”

Mr Madden has previously worked with major insurance companies in Australia and the US, including Suncorp from 2007-10, State Farm Insurance and Allstate Life Insurance.

He replaces Allianz Chief Market Manager Paul Kernaghan, who has been acting as CEO for seven months following Allianz’s acquisition of TIO.