IAG’s decision to unite its Australian businesses into one division will accelerate decision-making processes in the company, CEO Peter Harmer says.

As reported by insuranceNEWS.com.au in a Breaking News bulletin on Wednesday, the newly formed Australia Division brings together the Australian Consumer, Australian Business, Operations and Satellite divisions under COO Mark Milliner, who becomes CEO Australia Division.

Mr Harmer says in a message to staff that the new division will help the company transform from a “product-centric organisation to one that is more focused on the customer”.

Describing the change as a “logical next step for IAG”, he says it will ensure the group maintains its leadership position in key Australian markets.

The new management structure sees Australian Business Division CEO Ben Bessell become EGM Business Distribution. He will report to Mr Milliner, but will remain a member of IAG’s Group Leadership Team.

Consumer Division CEO Anthony Justice, whose reporting relationship also changed in the restructure, has decided to leave the company.

insuranceNEWS.com.au understands Mr Justice, who joined IAG in 2011, is highly regarded within the management group. Mr Harmer says Mr Justice has been a valued executive and his “passion and commitment” will be missed.

CFO Nick Hawkins retains responsibility for the group’s New Zealand and Asia divisions.

IAG will report its financial results for Australia, New Zealand and Asia on August 23. The Australia Division results will be reported in consumer and business segments.

See ANALYSIS.