Youi long-term employee Nathaniel Simpson has been appointed CEO, taking over the top job in July from Hugo Schreuder, who moves to the Youi board from next year.

Sunshine Coast-based Mr Simpson is currently Chief Product Officer. A qualified actuary, he has worked at Youi and its South Africa-based parent company Outsurance Group for 17 years.

"I’m committed to ensuring our customers remain at the core of what we do,” he said.

Mr Schreuder, who also lives on the Sunshine Coast, was Youi’s founding CEO in 2008 after joining Outsurance in 2003. He was appointed to the board of the Insurance Council of Australia (ICA) in December.

“I would like to extend our heartfelt gratitude to Hugo for his exceptional leadership and unwavering commitment to Youi,” said David Foster, who became Youi Chairman at the start of this year, taking over from Campbell Corfe who stays on as Non-Executive Director.

Youi’s Australian business posted a 39% fall in operating profit to $57 million in the last financial year on higher catastrophe claims and a change in reinsurance arrangements.