Sterling Insurance has promoted Chris Dardaneliotis to CEO, replacing Tony Parington, who has become Chairman.

“This is a great opportunity for Chris and is an example of promoting talent from within an organisation,” Mr Parington said.

Mr Dardaneliotis joined Sterling in 2007 and has held various management roles, including acting as CEO in Mr Parington’s absence.

Mr Parington has been CEO since 2011. He replaces former MD George Condell who has stood down from the chairmanship but remains a director.

“We had a three-year plan to replace our CEO and we have been mentoring Chris for the past 12 months,” Mr Condell told insuranceNEWS.com.au.

Mr Parington says the changes allow him and Mr Condell – both founding directors – to focus on developing the business.

Sterling specialises in underwriting hard-to-place and complex risks. Mr Condell says the group plans to expand into aviation and personal accident cover, because it has the expertise for both in-house.