Calibre Insurance CEO Mike Hooton has left the company at the completion of a contract with Hollard Insurance.

The Calibre business, which focuses on the SME market, will be folded into Hollard’s new commercial insurance division.

Hollard Executive Director and CEO Richard Enthoven says in a note to staff that the formation of the new division “is an important step in Hollard’s commercial growth strategy”.

He says it will allow the company to “combine expertise, enabling deeper focus, driving more efficiency and re-engaging our ability to leverage off our combined technological capabilities”.

Mr Enthoven praises Mr Hooton’s contribution “as he ensured the successful integration of Calibre into Hollard”. 

“He leaves with our best wishes for the future.”

Calibre was formed after Steadfast bought listed insurer Calliden in December 2014. Steadfast kept Calliden’s underwriting agencies and sold the general insurance portfolio to Great Lakes Australia, who named it Calibre.

Hollard bought Calibre from Munich Holdings Australasia on August 31 last year, and on April 1 took over the underwriting of Calibre’s business from Munich Re’s Great Lakes Australia and appointed Mr Hooton CEO.

Munich Re has been selling off its Great Lakes assets after deciding last year to focus solely on reinsurance in the local market.