Trade credit insurer Coface Australia has appointed Paul McGahen, the former boss of specialist legal professional indemnity (PI) insurer LawCover, as its new CEO.

Coface’s Asia-Pacific Platform Manager Richard Burton says Mr McGahen “brings with him the right mix of skills, experience and deep understanding of the Australian insurance market to lead Coface Australia through the next stage of its development”.

Mr McGahen says he aims to increase understanding of credit insurance and raise its market penetration in Australia.

A fellow of the Institute of Chartered Secretaries and Administrators and a member of the Australian Institute of Company Directors, he previously spent several years in senior leadership roles at Allianz.

He will be replaced at LawCover by Michael Halliday, a former COO of medical indemnity provider MDA National.

Mr Halliday helped expand MDA WA from a Perth-based entity of about 3000 members to a national organisation with almost 35,000 members and clients.

He has more than 25 years’ experience in the industry and has consulted to medical and other PI organisations.