MDA National has produced a “commercially solid result”, outgoing CEO Peter Forbes told the group’s annual general meeting in Perth last week.

The medical defence insurer has net assets of $145 million, up from $132.2 million at June 30, he says.

Meanwhile, Mr Forbes has confirmed he will retire in June.

“In more than 20 years of service… Peter has led the organisation from [being] the Medical Defence Association of WA to a truly national organisation that supports more than 37,000 members and insureds today,” President Julian Rait said.

Several new members of the mutual board were announced at the meeting, including Michael Hollands, John Trowbridge and Stephen Scudamore.

Mr Trowbridge is MDA National Chairman. He and Mr Scudamore also sit on the insurance board.

Guy van Hazel and David Watson retired from the mutual board, while Fiona Bettenay stepped down from the mutual and insurance boards. Eva Skira will leave the insurance board at the end of the year.

A spokesman could not say whether the process of selecting a new CEO has begun, or whether they will be hired internally or externally.