IAG has named Nick Hawkins as CEO, taking over from Peter Harmer on November 2.

Mr Hawkins was given responsibility for the insurer’s day-to-day operations five months ago following a decision by Mr Harmer to retire. He will leave the group on November 1.

As reported in a Breaking News bulletin earlier today, Mr Hawkins was CFO for 12 years before being named Deputy CEO in April, He has served as CEO in IAG’s New Zealand operation and was considered one of the two most likely candidates for the job.

CEO Australia Mark Milliner was also considered a strong internal candidate. Last month insuranceNEWS.com.au summed up IAG's challenge in selecting between the two.

Chairman Elizabeth Bryan said today that Mr Hawkins “has a deep understanding of both global and domestic general insurance along with operational and financial experience, and this will ensure a smooth transition for IAG”.

Mr Hawkins, 52, joined IAG in 2001 from KPMG, where he was a partner specialising in financial services and worked in the firm’s offices in Perth, London and Sydney.

He says IAG’s purpose has never been more important than now as it helps customers and communities recover from last summer’s natural disasters, while facing ongoing challenges from climate change and the pandemic.

Ms Bryan today thanked Mr Harmer for his contribution as IAG CEO over the past five years.

“Under Peter’s leadership IAG has sharpened its focus on delivering better outcomes for customers and their communities while performing well financially,” she said.

IAG is still finalising the appointing of a permanent CFO after Michelle McPherson took up the position on an acting basis in April.