IAG has removed “Insurance Australia Group” from its new logo, to better reflect its growing international presence.

New CEO Peter Harmer says the purple logo, which is part of a new brand identity, recognises the “significant presence” in New Zealand and key Asian markets.

“Brand recognition plays an integral role in telling the IAG story, so our visual identity must be distinctive, modern and engaging, reflecting our future aspirations and supporting our plans to engage with a broader set of stakeholders,” Mr Harmer said.

He says the branding also aims to strengthen the link between IAG and its brands.

“Our research shows customers value knowing who stands behind the insurance brands they choose, particularly the financial security, strength and scale that comes from… IAG.”

The group owns CGU, NRMA Insurance, SGIO, SGIC, WFI and Swann Insurance in Australia, NZI, State, AMI and Lumley in New Zealand, Safety and NZI in Thailand, AAA Assurance in Vietnam and Parolamas in Indonesia.

It also has general insurance joint ventures in Malaysia, India and China.

Mr Harmer begins as MD and CEO this week, replacing Mike Wilkins. Former Suncorp Personal Insurance CEO Mark Milliner will join as COO in mid-2016.