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Freedom chief to leave as wind-down continues

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The CEO of Freedom Insurance Group, Sean Williamson, will leave next month after the role was made redundant.

Freedom has nearly wound down all its operations, reporting a $33.4 million loss for the first half of the year.

During this period it has halted unsolicited life insurance sales calls after they drew criticism at the Hayne royal commission, run a remediation program for affected customers and written down goodwill with respect to its advisory business Spectrum Wealth.

Freedom has endured a protracted process of closing down and selling different parts of its business since it began discussions with key financial backers in March and suspended sharemarket trading.

It sold its policy administration business to Genus Life Insurance for $5 million. Freedom shut Spectrum Wealth last month after an exodus of key personnel.

“Freedom would like to recognise the significant contribution Sean has made in navigating Freedom through what has been a complex and difficult process,” the company said.