IAG director Jon Nicholson will retire from the board on Wednesday after nearly a decade.

He joined the board in 2015 and served on the committees for people and remuneration, risk, and nomination, including as chair of the first two.

Chair Tom Pockett says Mr Nicholson has made a significant contribution to the group.

“Jon helped oversee IAG’s response to very significant natural disasters in Australia and in New Zealand, including some of the largest earthquakes, bushfires and floods ever experienced,” Mr Pockett said. 

“As chair of the risk committee, Jon oversaw a significant uplift in the risk capabilities of the company. He also provided considered input and insight regarding strategic and reinsurance risks.”