Former Zurich CEO Raj Nanra has been appointed CEO at premium funder Macquarie Pacific Funding.

Mr Nanra left Zurich suddenly in April, and was later succeeded by Tim Plant.

His new position starts with immediate effect. He replaces Rachael Lavars, who spent four years as CEO.

Macquarie Pacific Funding Chairman Bruce Bollom says Mr Nanra brings more than 20 years’ industry experience and proven leadership skills.

“Mr Nanra will be focused on furthering the transformative work that has been underway across the business, which is driving enhanced value for customers and delivering a broader range of innovative financial solutions for the insurance broking sector,” he said.

Macquarie Pacific Funding is a joint venture between Steadfast and Macquarie Bank.