It’s been a relatively quiet week in insurance. Wesfarmers is waiting to mop up the last bits of OAMPS shareholding, Suncorp CEO John Mulcahy has completed most of the heavy negotiating and is now just waiting to hear if the regulators will let his company take over Promina, and IAG CEO Michael Hawker’s time as president of the Insurance Council of Australia (ICA) is coming to an end.

Mr Hawker, who in the past year has bought his way into a significant number of foreign companies, will stand aside when his term is competed at the end of the year. His successor will be Mr Mulcahy.

QBE COO Vince McLenaghan will take over Mr Mulcahy’s role as Deputy President.

Mr Hawker will remain on the ICA board. He has been credited with overhauling the council over the past 16 months. 

The full board line-up for 2007 is yet to be finalised but is expected to be announced soon.