Ian Frith, the recently retired founder of heavyweight national insurance broker IC Frith & Associates, has become CEO and major shareholder of Nautilus Marine Underwriting Insurance Agency.

The appointment comes a month after Nautilus MD Paul Wilson agreed to stand down for 30 days and pay $375,000 in damages to Allianz Australia.

Mr Wilson was previously CEO of Allianz subsidiary Club Marine but left abruptly in April last year with two other senior managers to set up Nautilus Marine Insurance Agency.

Last month Mr Wilson consented to judgement being entered against him in a lawsuit brought by Allianz and agreed he breached contractual and fiduciary duties to Club Marine.

Nautilus Marine National Marketing Manager Mark Crockford told Sunrise Exchange News the company still hasn’t decided what job title Mr Wilson will return to Nautilus under.

“Paul founded this company, and despite standing down temporarily he is definitely part of the executive team,” he said.

Mr Frith, a 35-year industry veteran, sold IC Frith & Associates 12 months ago but remained as Chairman. He says the opportunity arose to get back into marine insurance. And it’s obvious he’s raring to go.

“In 12 months this company, which started with three highly skilled people, now employs 13 staff and has opened offices in Victoria, Queensland, NSW and WA.”