Zurich has begun the search for a new chief executive for its Australian general insurance operation following the resignation on Friday of CEO Shane Doyle.

The announcement of Mr Doyle’s decision to quit after just over a year in the position sent shockwaves through the industry on Friday. He had just completed a complex restructure of the company’s distribution strategy and management and had built a reputation for strong and effective leadership.

Zurich Australia has now had five CEOs in the past 10 years – a comparatively rapid turnover of people at the top.

The longest-serving CEO in that period was David Smith, who was appointed in June 2006. He left the company last year when the Australian operation was split into life/investment and general insurance arms.

A reliable source told insuranceNEWS.com.au on Friday that Mr Doyle’s decision to resign was “a personal decision based on a change in career direction”.

It’s understood he will move to a role outside Australia working for a London-based company, which did not return requests from insuranceNEWS.com.au for confirmation before publication deadline.