AIA Australia has named Peter Yates as Chairman, replacing Theresa Gattung.

The insurer says the appointment will allow Ms Gattung to focus on her role as Chairman of AIA New Zealand and other interests, following 12 years with the Australian business after joining as independent director in 2009.

Mr Yates has served on the AIA Australia board for more than 10 years and as deputy chairman since 2016.

He is presently a director of Linfox Australia and Mutual Trust Pty Ltd. He is also chairman of a number of organisations including the Australian Science Media Centre and the Royal Children’s Hospital Foundation.

In the June 2011 Queen’s Birthday Honours, Mr Yates was awarded a Member of the Order of Australia for services to education, to the financial services industry and to a range of arts, science and charitable organisations.