Arthur J Gallagher has appointed Nick Cunningham as CEO of subsidiary Elantis Premium Funding.

Mr Cunningham, who joined the company in 2014, replaces Jurgen Rammesmayer, who became Arthur J Gallagher (Australia) COO in January.

MD Australia and New Zealand Steve Lockwood says Mr Cunningham is the natural choice.

“Against the backdrop of a generally challenged insurance market, our premium funding business has delivered sustainable growth by offering forward-thinking, commercial solutions that truly resonate with brokers and their clients,” he said.

“Nick has made a strong contribution to our current market position and is well positioned to provide continuity and focus for the business in the next phase of its growth.”