The Hollard Insurance Company’s outgoing CEO Richard Enthoven says the executive changes announced last week are part of an “adapt and change” mindset that is key to ensuring the business continues to grow strongly in the Australian market.

As part of the changes, Mr Enthoven will focus on his role as MD of Hollard Holdings Australia, the group’s holding company.

Personal Lines CEO Paul Fahey, who joined the business in 2016, will take over from Mr Enthoven as CEO. The transition process is expected to be complete by July 1.

“Growth, the like of which we’ve experienced, brings with it new opportunities, and we have to adapt and change accordingly,” Mr Enthoven told insuranceNEWS.com.au.

“Along with the need to scale our growth, we face other opportunities, including changing customer expectations, COVID-19 and a period of immense regulatory reform.

“The thing that will see us through these challenges and the next stage of our development, is the link between our purpose and our strategic direction.

“To support that, I need to step away from the day-to-day running of the company and focus on our purpose and our key strategic initiatives.”

Mr Enthoven says the business is on track to finish this financial year with gross written premium of close to $1.6 billion.

He says the business has grown significantly over the past 22 years. From a start-up of three people, the business now has a team of 600 “Hollardites” with more than 20 distribution partners and 500 broker relationships.

Mr Enthoven is excited about his new challenge and has confidence in his appointed successor and the team.

“I am passionate about our purpose of empowering a resilient future and believe that better defining and accelerating it is a necessary evolution of our business lifecycle,” Mr Enthoven said.

“I look forward to having more capacity to focus on the issues that can truly move the dial for our people, our partners and our customers.

“We have the people and the skills to achieve this, and we are blessed with leaders like [Mr Fahey] and the other members of the Hollard Leadership Team who can take Hollard through this transition.”

He says Mr Fahey “has driven a reinvigorated focus on employee engagement and accelerated investment in good customer outcomes and digital capabilities” since joining the business.

“His diverse experience leading large teams across pricing, product, distribution and operations in general insurance has assisted Hollard in delivering ongoing profitability improvements,” Mr Enthoven said.

“And he has done so whilst retaining the openness, sincerity and transparency that have been the secret sauce of our past success.”