Club Marine CEO Greg Fisher will retire this month to focus on recovering from a serious cycling accident.

Mr Fisher says it was an “emotional decision” to end his 40-year career.

He spent more than six months in hospital after a collision at the end of 2011, and despite nerve transplants he still suffers mobility problems.

Having returned to work two days a week, he was attending rehabilitation sessions on three days.

“All the advice from my doctors was that I was focusing too much on work and not enough on my rehabilitation,” he told insuranceNEWS.com.au. “I had to take the view that my health was the most important thing.”

Mr Fisher started his career in December 1973 as a junior with NZI in Ballarat.

He worked for NZI in the UK and Fortis Australia before joining Allianz in 2002 as chief GM broker and agency division. He became CEO at Club Marine in 2010.

He says he is proud of his team and wishes them the best for the future.

“Club Marine has been the industry’s No.1 pleasurecraft insurer for the past 40 years. It is well positioned to maintain that and also expand into other opportunities in the leisure market.”

On the industry’s future, he says “buying via the internet and direct players is going to make the broker market focus on the level of professionalism they provide. It is a real big challenge for those guys.”

Niran Peiris, MD of Club Marine’s parent Allianz Australia, says Mr Fisher’s “experience and the sense of fun he brings to his roles will be sorely missed” by colleagues and the industry.

Mr Fisher will leave on August 16. The search for his replacement is under way, with Allianz GM Financial Institutions Michael Winter stepping in as caretaker CEO.