Suncorp has developed a new statutory claims division in a bid to strengthen its Commercial Insurance leadership team and create greater growth options.

The new division aims to bring together all compulsory third party (CTP) insurance and workers’ compensation claims, allowing Suncorp to better leverage off its size as the country’s largest personal injury insurer.

Commercial Insurance CEO Anthony Day says three existing Executive GMs will take on roles in the new division.

Paul Smeaton will move from his position as EGM Commercial Claims to lead the new division as EGM Statutory Claims. He will be replaced in his old role by Matt Pearson. Chris McHugh will take on the role of EGM Statutory Portfolio and Underwriting Management.

Suncorp is still on the hunt for a CFO of Commercial Insurance with Chief Risk Officer General Insurance Bruce Lambert taking on the role as an interim measure.