Duncan West formally stepped down from the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) board at its annual general meeting in Melbourne on Friday.

Mr West has been an institute director since 2002 and was president from 2009-11.

He was most recently EGM Insurance at NAB and MLC Wealth Management, and has previously served as CEO with CGU Insurance and Vero.

ANZIIF President Jonathan Fox called Mr West “a true patron of the industry”.

Since last year’s AGM two directors have joined the board: ANZIIF CEO Prue Willsford and Paul Munton, GM Broker Products at Lumley General Insurance New Zealand.

Steve Nevett, Tom Reddacliff and Joan Fitzpatrick stepped down as directors during the period.

Mr Fox will continue as President, with Deputy President Karl Armstrong also keeping his role.

Marsh SVP Cheryl Richardson was given a service award for her contribution to the institute and the insurance industry and Steadfast EGM Allan Reynolds was confirmed as an honorary life member of ANZIIF.