IAG grabs top UK executive to head direct division
After several years of confusion at the top of its direct insurance division, IAG has appointed an experienced manager from the UK direct insurance market to make it perform.
Andy Cornish, a highly regarded player in the UK market, will start work in George Street in January. He’s at present the divisional MD of the Royal Bank of Scotland’s (RBS) insurance arm – the second-largest insurer in the UK.
Mr Cornish’s new role steering the IAG personal lines and consumer insurance division is the last big job to be filled by CEO Mike Wilkins.
“I look forward to the contribution Mr Cornish will make leading our largest business, Direct Insurance in Australia,” Mr Wilkins said.
Mr Cornish, 52, has spent nine years at RBS Insurance. He’s credited with successfully growing the bank’s commercial insurance division after previous stints at Green Flag Group, Zurich Insurance and Eagle Star Insurance.
He will take over from Acting CEO Gary Dransfield who will resume his role as Head of Retail Sales and Service for NRMA Insurance, SGIO and SGIC.
The move to Sydney comes at an interesting time for Mr Cornish. The cash-strapped Royal Bank of Scotland is expected to sell 51% of its insurance business to Swiss Re and private equity group CVC for £6 billion ($14.6 billion) within a matter of weeks.
The bank’s insurance operation has 18,000 staff. It is the UK’ largest motor insurer and a major player in travel, home and pet insurance. It is also the biggest direct insurer in Spain.
Andy Cornish, a highly regarded player in the UK market, will start work in George Street in January. He’s at present the divisional MD of the Royal Bank of Scotland’s (RBS) insurance arm – the second-largest insurer in the UK.
Mr Cornish’s new role steering the IAG personal lines and consumer insurance division is the last big job to be filled by CEO Mike Wilkins.
“I look forward to the contribution Mr Cornish will make leading our largest business, Direct Insurance in Australia,” Mr Wilkins said.
Mr Cornish, 52, has spent nine years at RBS Insurance. He’s credited with successfully growing the bank’s commercial insurance division after previous stints at Green Flag Group, Zurich Insurance and Eagle Star Insurance.
He will take over from Acting CEO Gary Dransfield who will resume his role as Head of Retail Sales and Service for NRMA Insurance, SGIO and SGIC.
The move to Sydney comes at an interesting time for Mr Cornish. The cash-strapped Royal Bank of Scotland is expected to sell 51% of its insurance business to Swiss Re and private equity group CVC for £6 billion ($14.6 billion) within a matter of weeks.
The bank’s insurance operation has 18,000 staff. It is the UK’ largest motor insurer and a major player in travel, home and pet insurance. It is also the biggest direct insurer in Spain.