Assistant Treasurer Bill Shorten has reappointed two board members of the Australian Reinsurance Pool Corporation (ARPC) for a further three years.

NAB executive and SBS director Patricia Azarias and Treasury executive director James Murphy will both serve on the ARPC board until April 2014.

Ms Azarias is an economist with expertise in infrastructure planning and financing, financial management and corporate governance, and co-chairs the risk and audit committee of the NSW Director of Public Prosecutions.

Mr Murphy has served on the ARPC board since 2004 and has been the executive director for Treasury’s Markets Group since 2003. He previously held positions with the International Monetary Fund and the Attorney-General’s Department.

The ARPC board is comprised of eight members from a range of insurance, regulatory, law and financial backgrounds.