IAG Chief Strategy Officer Leona Murphy will leave the insurer at the end of this year.

MD and CEO Mike Wilkins is to hand over to Peter Harmer next month, and Chairman Brian Schwartz is also stepping down this financial year.

Ms Murphy IAG joined in 2007 and has held a number of executive roles, with particular focus on disaster mitigation and community resilience.

She is returning to Queensland to “focus on the next stage of her career as a non-executive director”.

Mr Wilkins paid tribute to her contribution.

“Leona has been a key member of our team and was instrumental in IAG’s journey over the past eight years,” he said.

“In particular, her leadership and commitment to creating a purpose-led organisation and to delivering on our transformation agenda have ensured IAG is well placed for the future.”

A profile of Ms Murphy featured in the October edition of Insurance News (the magazine).