Suncorp Group CEO Patrick Snowball has unveiled his plans to streamline complex insurance functions to deliver a “one company, many brands” strategy.

During a market update last week a confident Mr Snowball said Suncorp is weighed down by multiple general insurance systems, employing entities and financial systems.

He sees simplification as the key to greater efficiency.

“Unlike most incoming CEOs there is no transformational agenda I need to embark upon,” he said. “We have everything we need to get this company back on a very positive trajectory.”

He hasn’t changed his mind about retaining the banking division and says management changes were intended to address an “imbalance” between specialist and generalist leaders.

The titles of Suncorp’s two new divisional general insurance leaders – Mark Milliner (Personal Insurance) and Anthony Day (Commercial Insurance) – have been reclassified as CEO, in line with Vero NZ boss Roger Bell.

Andrew Mair fills Mr Day’s previous job as EGM Intermediated Distribution, while Darren O’Connell is now EGM Commercial Portfolio and Underwriting Management.

Neil Singleton is EGM Statutory Portfolio & Underwriting Management while Gerard McDermott is EGM Direct Distribution, Administration & Servicing; Paul Smeaton EGM Commercial Claims and Matt Pearson EGM Commercial Insurance CFO.

The position of EGM Statutory Claims remains vacant at present.

Suncorp Personal Insurance has been reorganised into five divisions: retail distribution, claims, niche and innovation, customer product and pricing, and finance.

The appointments comprise EGM Retail Distribution Gary Dransfield, EGM Claims Jason McCracken, EGM Niche Markets and Innovation Andrew Mulvogue, EGM Customer Product and Pricing Natasha Fenech, and CFO Terese Wood, who joins from IAG in February.