IAG has appointed Justin Breheny as Group Chief Risk Officer.

Mr Breheny, currently based in Singapore as CEO Asia, will take up the position in Australia from October 1.

He will be replaced by Duncan Brain, who has been Deputy CEO Asia.

IAG CEO Mike Wilkins says Mr Breheny has expertise in developing and mature markets, plus extensive experience across financial services.

“The appointment of Justin as CRO builds on our robust approach to risk management and further demonstrates our commitment to IAG’s risk and governance framework.”

Mr Brain has been a member of IAG’s team in Asia since 2005.

“Duncan is ideally placed to lead our Asia business as we increasingly move our focus from development to delivery,” Mr Wilkins said.

Asia represents about 7% of IAG’s gross written premium (GWP) and is on course to reach a target of 10% by 2016, he says.

Mr Brain will oversee the rollout of capability transfer programs and the delivery of GWP growth in developing markets.

IAG has operations in Thailand, Malaysia, India, China and Vietnam, and continues to investigate opportunities in Indonesia.